• Pinestar completed a 1,683 metre, 18 hole, drill program on the Becker property between February and June 2011. Drilling activity focussed on the northern part of the concessions, known as the Guindos area.
• Drill results included 3.1 m of 3.9 g/t Au near surface (BK11-13), and 4.6m of 3.3g/t Au plus 9.9 g/t Ag (BK11-03) at 16m depth.
• Pinestar's channel sampling at Guindos returned peak values of 8.3 g/t Au and 9.1 g/t Au over 2.5 and 6.0m respectively.
• The main target at Becker is the Las Lajuelas area in the southern part of the concessions, which remains to be drill tested.
Prospective for: 'Bonanza-style' Gold & Silver Veins
The 20 sq km Becker property is located 250 km south of Santiago and 40 km west of the city of Talca.
49% owned. Pinestar Gold Inc. (TSX-V:PNS) earned a 51% interest by completing $600,000 in cumulative exploration work, paying $175,000 cash, and issuing 400,000 Pinestar shares to Condor.
Pinestar have an option to increase their interest to 70%. To exercise this option, Pinestar must complete cumulative exploration expenditures of $1 million, make an additional cash payment of $100,000, and issue an additional 200,000 Pinestar shares to Condor, prior to June 29, 2012.
As part of its commitment Pinestar completed a National Instrument 43-101 technical report on the Becker project (dated November 9, 2009) and this report may be viewed on the Pinestar website.
Previous regional exploration by a Canadian junior resource company in 1995 led to the discovery of a 1500 by 1200 m zone within which were found a significant number of quartz vein fragments and boulders up to 4 m in diameter. Follow-up work at the time included backhoe trenching and encountered six quartz veins with strike lengths of up to 350 m and widths varying from 0.5 to 7 m. Sampling at that time returned highly 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. There are currently 11 known veins recorded, all of which are open for extension along strike and at depth. Prior to Pinestar's 2011 program, the Becker property had not been drill-tested.