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Saturday, Jun 15, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

AI and Autonomy

Windfall Geotek completes exploration targeting services in Newfoundland with AI

The system generated 12 targets covering 1,208 square kilometers, using 4,942 gold assays

Windfall Geotek completes exploration targeting services in Newfoundland with AI
From left to right, Jeff Swinoga CEO of Exploits Discovery, and ground expert Nick Ryan in Newfoundland. Image via Exploits Discovery Corp.

Windfall Geotek Inc. (TSXV:WIN) (OTC:WINKF) (FSE:L7C2) completed its artificial intelligence mineral exploration targeting services for Exploits Discovery Corp. (TSXV: NFLD) at its Exploits South District Property Package in central Newfoundland.

The company said on Wednesday that it generated 12 AI targets covering 1,208 square kilometers, using 4,942 gold assays. The target analysis noted potential upside for new discoveries outside of the scope of known gold mineralization for the project.

Despite the vast size of the area, only a limited amount of exploration has been conducted over the past 40 years. This lack of extensive exploration makes the area an ideal candidate for appraisal using Windfall’s system. Furthermore, there are opportunities for option and joint ventures on these properties.

Windfall Geotek’s AI targeting technology processes geological data from diverse sources to pinpoint the most probable drilling targets. This technology is versatile, working for a wide range of metals including copper, lithium, gold and uranium, among others.

The company utilizes geological data from multiple sources, such as drill holes, rock samples and publicly available resources, to construct models. These models can predict with high accuracy the locations where a specific metal or group of metals is likely to be found, thereby significantly enhancing the success rate of exploration programs.

“As we advance our new Horseshoe gold discovery and target development further to the north at our Gazeebow claims, we are pleased that this new technology was able to assist us with identifying numerous gold targets within our relatively unexplored southern claims,” said Jeff Swinoga, president and CEO of Exploits Discovery.

The Middle Ridge property is on a big fault in the Dunnage Zone, which is part of the Gander River Ultramafic Belt (GRUB). This fault is marked by a type of rock called ophiolitic rock. The company discovered that the GRUB Line is part of this fault and is believed to be a pathway for fluids deep within the Earth, including those that carry gold. This structure is linked to significant gold deposits, especially in offshoots from the GRUB Line. These offshoots are found in rocks from the Silurian period in the Exploits Subzone.

Gold target map. Image from Windfall Geotek.

Read more: Xtract One Technologies screening tech included in TSA approved product list

Read more: Databricks inks agreement to acquire AI startup MosaicML for US$1.3B

Artificial intelligence offers benefits to various industries

Artificial Intelligence offers numerous benefits across various industries, with efficiency and productivity being one of the key advantages. By automating routine tasks, AI can significantly enhance efficiency and productivity.

This is particularly evident in the manufacturing sector where AI-powered robots can operate around the clock, often with greater precision and consistency than human workers.

Furthermore, AI’s ability to analyze vast amounts of data to identify patterns and trends is invaluable. This predictive analysis capability enables businesses to forecast future outcomes, which is especially beneficial in industries like finance for predicting stock market trends, or in healthcare for anticipating disease outbreaks.

Huawei Technologies Co combined artificial intelligence, internet-of-things and 5G into a device that could automate the functions of an entire mine in the Shaanxi coal mines in China earlier this year. The program not only boosted production and operational safety, but also led to improved efficiency during exploration, tunnelling and mining.

Another use case for artificial intelligence and mining comes as a result of the partnership between BFP Group Limited (ASX: BHP) and Microsoft Corp. (NASDAQ: MSFT), which implemented AI to improve copper recovery rates at BHP’s Escondida copper mine in Chile.

Announced on Tuesday, the initiative comes as a response to the company’s Copper Concentrator Challenge launched in Sept. 2022, issued to increase copper recovery rates.

The partnership is making use of BHP’s new Azure Machine Learning operations platform, along with other Azure services such as Azure Synapse Analytics and Azure Data Lake Storage. These services from Azure help manage machine learning operations, store data, analyze data and improve their mining operations overall.

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