ALORO MINING CORP. – (the “Company or Aloro”) ALORO MINING CORP. – (“Aloro” or the “Company”) is pleased to announce that Alamos Gold Inc. (“Alamos”) has informed Aloro that it has started its initial drill exploration programs on the Los Venados claims, Mulatos District, Sonora Mexico.
Alamos’ initial drill programs will focus on both the high sulfidation area in the south portion of the property near the Mulatos open pit, and the low sulfidation gold mineralized area to the north where high grade veins have been identified. The drilling will be following up on the regional mapping and sampling programs performed by the Alamos geologists, as well as initial exploration programs and data collected by Aloro, including drilling. The initial drill programs will be on the Los Venados #1 concession.
Alamos has the option to acquire a 70% interest from Aloro by incurring an aggregate of USD$5,000,000 in exploration expenditures and making certain cash payments over the course of three years in two mining concessions, commonly known as the Los Venados Project located in the Municipality Sahuaripa, in the State of Sonora, Mexico. (See news release of October 20, 2020)
As the operator, Alamos will be conducting the exploration on the Los Venados Project until a participation level is attained.
The Company’s continues to review additional exploration properties. The Company continues to follow up and negotiate on 3 gold properties as potential property acquisitions.
Thomas A. Doyle, President, CEO, stated “We are very pleased that Alamos has started its initial drill exploration programs on the Los Venados Project. With Alamos’ experience and geologic knowledge gained in the immediate area with their major gold mine, I look forward to their success.”
About Aloro Mining Corp. Aloro holds the 3199 hectare Los Venados Project (LV) which is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. Aloro also shares with Alamos, common borders to the east and north. The western border is shared with Agnico Eagle Mines Limited where it operates the La India open pit. The known mineralization within the Mulatos District is gold-dominant, high sulfidation mineralized system, with accessory silver and copper.
|ALORO MINING CORP.|
Per: “Thomas A. Doyle”
Thomas A. Doyle
President & CEO
For further information, please contact:
Thomas A. Doyle
Phone: (604) 689-5722
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