Aloro controls the Los Venados Project is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. 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 sulphidation type with accessory silver and copper.
The Los Venados Project, consists of two mining concessions covering an area of approximately 3,199 hectares. The concessions are situated approximately 220 kilometres east-southeast of the city of Hermosillo, the capital of the State of Sonora. Road access to the property is readily possible via paved and gravel roads from Hermosillo southeast to Mulatos via Sahuaripa.
Historic exploration work by Phillips Petroleum, Homestake Mining, Kennecott, Placer Dome and others have focused on the large high sulphidation gold deposits at and near the current Mulatos mine. The Los Venados Project has received geochemical sampling, geological mapping, 2 induced polarization geophysical surveys totaling 17.3 line kilometers, and very limited diamond drilling in the northern portion of the property.
The Mulatos Gold District is a large area, within which large altered areas are receiving intense exploration by a number of companies including Alamos Gold Inc, Agnico Eagle Mines Limited and Fresnillo PLC. Within 10 kilometers of the Los Venados concession boundary, there are at least 10 known gold deposits that are receiving extensive pre-development and production work.
Geological mapping completed identified three large alteration zones coincident with known anomalous soil and rock geochemical samples. The results from two additional east-west lines of induced polarization surveying confirmed the presence of a suspected buried intrusion, possibly mineralized, in the vicinity of anomalous soil and rock samples returning values in excess of 1 gpt gold. The results of this preliminary work are shown in the accompanying Exploration Targets Map.
Exploraciones Aloro, S.A. de C.V., has an agreement in place with the local Ejido granting exploration access to the project. The Company recently received a new permit from SEMARNAT, replacing the previous issued drill permit. The new permit will allow for the drilling of 12 drill holes, the building of 12 drill sites 14 x 7 meters suitable for using a reverse circulation drill, and the construction 3,693 meter access road 7 meters wide in order to reach the 12 new locations.
Aloro Mining Corp. looks forward to advancing and developing the Los Venados Project.