Being carried out by New-Sense Geophysics, the survey involves airborne radiometrics and magnetometer surveys using a Eurocopter AS350 B3.
Scheduled to be completed before the end of September, the survey includes 150m line-spacings to be flown for about 3,000 line-kilometers.
As part of recently signed agreement, Condor offered a 270 day exclusivity period to MMG to carry out a mandatory due diligence program, which includes the airborne survey, and follow up mapping and sampling, at Brahma/Austral.
Within six years of execution of the deal, MMG will complete cumulative exploration expenditures of $7m perform preliminary economic assessment to earn a 70% interest in the project, if it decides to proceed with an option agreement.
The Brahma/Austral project concessions cover about 186km² located south-east of the city of Talca in southern Chile.
