Becker
Located in Chile, 250 km south of Santiago and 40 km west of Talca, the Becker gold project is an intermediate to low sulfidation potential "bonanza-style" gold vein system located within Cretaceous andesites proximal to an intrusive granodiorite-diorite contact along the western margins of the Central Andes.The Becker project covers an area of 20 square kilometres, and was acquired by staking.
Past exploration (circa 1995 by Arauco Resources) discovered a zone measuring some 1500 by 1200 metres within which occurs a significant number of quartz fragments and boulders to 4 metres in diameter. Follow-up work at the time encountered six quartz veins with strike lengths up to 350 metres and widths varying from 0.5 to 4 m. Previous sampling returned anomalous gold values along the entire vein lengths, with peak values of 23.5, 37.2, 40.7, 63.5, 70.0 and 79.0 g/t Au.
In June 2009, Oretech Resources Inc. ("Oretech"), a Vancouver-based private company, was granted an option to earn a 51% interest in the Becker project, with a further option to increase their interest to 70%.
To earn its 51% interest, Oretech must complete a total of $600,000 in work programs on Becker, issue an aggregate of 300,000 shares to Condor, and make cash payments totaling $165,000 within two years of signing. Upon earning a 51% interest, Oretech may increase its interest in the project to 70% by completing a further $400,000 in work programs, issuing an additional 200,000 shares to Condor, and making an additional cash payment of $100,000 on or before June 29, 2012.
Oretech is intending to complete a business combination with Hedger Capital Inc. as Hedger's qualifying transaction under the policies of the Exchange.
Condor has been advised by Oretech that a National Instrument 43-101 technical report on the Becker project has been completed. A copy of the report, dated November 9 2009, can be found under Hedger Capital's filings at www.sedar.com
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