Located 250 kilometers south of Santiago and 40 kilometers west of Talca,
Region VII Chile, the 2,000 hectare Becker Property covers several, intermediate
to low sulfidation epithermal gold-silver vein systems. These vein systems are
hosted within Cretaceous andesitic volcanics proximal to an intrusive
granodiorite-diorite contact. Prior exploration activity circa 1995 by Arauco
Resources (“Arauco”) discovered an arcuate generally north-south trending zone
measuring some 300 by 900 metres at surface with a significant number of quartz
fragments and boulders to 4 metres in diameter. Sampling of these boulders by
Arauco 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. Follow-up geological
mapping and geochemistry at the time encountered a total of 11 NE to NWstriking,
steeply-dipping white massive, drusy and bladed quartz veins with strike
lengths up to 350 metres and widths varying from 0.5 to 7 metres, along with
quart-sericite-carbonate replacement of andesitic wall rocks. Extensive hand
pitting and backhoe trenching programs conducted along these veins returned
peak values from the main ‘Veta Lajuelas’ ranging from 4-5 g/t Au over 2-3
metres to 12.25 g/t Au over 3 metres and 9.6 g/t Au over 7.5 metres width. The
current property owners, Condor Resources Inc, (“Condor”) estimate the cost of
Arauco’s exploration work, if completed today, would be in the order of US$
200,000. Based on more recent personal experience executing similar programs in
the same general area the author believes this to be a reasonable cost estimate.
Becker is an exploration stage property on which no drilling has been done to date
and no resources exist.
Subsequent to a due diligence field review Oretech Resources Inc. (“Oretech”)
negotiated in mid June 2009 an option agreement with Condor wereby Oretech canearn a 70% interest in the Becker project in Chile, by completing work programs totaling
CAN$ 1,000,000, issuing a total of 500,000 shares of Oretech or it’s assignee and
making cash payments totaling CAN$ 265,000 on or before June 29, 2012. Since the
signing of this agreement Minera Polar Chile Limitada, La Serena, Chile on behalf
of Ortech has completed to date, grid geochemical soil sampling and geological
mapping in the Lajuelas vein area and prospecting, reconnaissance geological
mapping and rock sampling in the previously un-explored Guindos sector of the
property. A test transient electro-magnetic (“TEM”) geophysical survey was also
carried out by Quantec Geoscience, Santiago, Chile on behalf of Oretech over the
southern half of the Lajuelas vein system. These programs have resulted in the
discovery of a new coincident gold in soil and geophysical anomaly flanking the
east side of the known Lajuelas vein system and two new clusters of auriferous
veins with peak gold values of 2.07 to 9.24 g/t in the Guindos sector 3 km
northeast of Lajuelas. Oretech’s expenditures as of 30 September 2009 for the
above exploration programs total US$ 91,805.
The author believes that the Becker property has excellent potential to host
medium to high grade gold and silver rich epithermal vein and breccia deposits
which could be amenable to both underground and open pit mining. Hence the
author recommends that Oretech carry out the following two phase exploration
program to further evaluate the Becker property.
A) detailed geological, geochemical and TEM geophysical surveys plus a 1000
metre program of HQ diamond drilling in the Lajuelas vein system and,
B) detailed geological, geochemical, TEM geophysical surveys and 500 metres of
reconnaissance drilling in the two new Guindos zones plus reconnaissance
prospecting and sampling on the rest of the property.
These proposed surveys are expected to cost US$ 600,000.