Introduction

Aloro has signed an Option Agreement to acquire 100% of the Quitovac Gold Mine Project (Quitovac) in Sonora, Mexico. Quitovac is located in the prolific Mojave-Sonora Megashear, where a large part of Mexico’s recent gold production is derived. Aloro has entered into the agreement with Cuesta Del Cobre, S. De R.L. De C.V. of Hermosillo, Sonora, Mexico.

Summary

The Quitovac Gold Mine Project consists of 14 mineral concessions that cover 2,643.82 hectares of highly prospective geological units for gold mineralization. The Quitovac area is located approximately 220 km northwest of Hermosillo, Sonora, the state capital, and 45 km south of the US International border at Sonoyta, Sonora, Mexico.

The Quitovac mineralized area is classified with the other orogenic shear zone gold deposits of the region including the gold mines of Mesquite, La Choya (8kms south), La Herradura (35 kms south, produced over 425,288 oz Au in 2020), San Francisco, and El Chanate. All these gold deposits are similar in character and are stated to be part of the Mojave-Sonora Megashear.

Both "hardrock" gold mining and gold placer activity were described as being active south of Quitovac village around 1833-1840 with more extensive work being initiated around 1880 through 1910. Total production of the "Quitovac mines" from these historic times was estimated at 150,000 oz. gold.

Four modern drilling campaigns at Quitovac have been completed and total 110 drill holes with 12,450 meters drilled. All past drilling has been located. Aloro has past exploration data and drill information for the above programs. Drilling to date has been shallow, < 100M and is open in all directions.

Aloro looks forward to advancing and developing the Quitovac Mine Project.