Becker
Highlights:• Pinestar began an 1,100 metre drill program on the Becker property in February 2011, and subsquently increased the program to 1,500 metres.
• High grade gold assays from a series of 11 epithermal quartz veins within an area of 1.5 by 1.2 km
Prospective for: 'Bonanza-style' Gold & Silver Veins
Location:
The 20 sq km Becker property acquired by staking is located in Chile, 250 km south of Santiago and 40 km west of Talca
Ownership:
100% owned. Pinestar Gold Inc. (TSX-V:PNS) has an option to earn a 51% interest in the project, with a further option to increase its interest to 70%. In order to earn a 51% interest, Pinestar must complete $600,000 in exploration work by June 29, 2011, pay $175,000 cash and issue 400,000 Pinestar shares to Condor.
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 work:
Previous regional exploration by Canadian junior resource company, Arauco Resources in 1995 led to the discovery of a zone measuring some 1500 by 1200 m 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 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.