ALORO MINING CORP. – (the “Company or Aloro”) is pleased to report that Alamos Gold Inc. (“Alamos”) has informed Aloro, that after a drill rig became available, it has resumed its drill exploration program on the Los Venados claims, Mulatos District, Sonora Mexico.
Alamos’ current drill program is focusing on the high sulfidation gold mineralized area in the south, where gold mineralization was identified in Aloro’s initial drill program. Drill hole LVRC-012 cut 32m of blind strong silicic alteration with brecciated vuggy silica and sulfides containing the best gold intercept of 4.57 meters of 1.72 gpt Au. The intercept was interpreted to be at the margin of concealed felsic dome by the Company’s Technical Advisors at the time. (See news release of February 05, 2019)
|Drill hole ID||From (m)||To (m)||Length (m)||Au (g/t)||Ag (g/t)|
The initial hole will follow-up to LVRC-012, with 2 more drill holes planned in the area for approximately 1100 meters.
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 releases of October 20, 2020, amended November 16, 2021)
As the operator, Alamos will be conducting the exploration on the Los Venados Project until a participation level is attained.
Quality Assurance/Quality Control (“QA/QC”)
Melvin A. Herdrick, P. Geo, a qualified person under NI 43-101, has reviewed and verified the technical content and data disclosed in this press release. Mr. Herdrick verified the data by supervising the onsite drilling and sample collection during this program.
Thomas A. Doyle, President, CEO, stated “We are happy that Alamos will test the high sulfidation area with a follow-up hole to LVRC 012. We have been pleased with the thorough exploration program to date on the Los Venados Project by Alamos. “
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 and low sulfidation mineralized systems, 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.