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    AORO   CA02053E1016

ALORO MINING CORP.

(AORO)
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Aloro Mining : ALAMOS GOLD RESUMES DRILLING ON LOS VENADOS

08/23/2021 | 10:37am EDT

ALORO MINING CORP. (the 'Company or Aloro') is pleased to announce that Alamos Gold Inc. ('Alamos') has informed Aloro that after a short break and evaluation it has resumed its reconnaissance drill exploration program on the Los Venados claims, Mulatos District, Sonora Mexico.

Alamos' current drill program is focusing on the low sulfidation epithermal gold mineralized area to the north where gold mineralization at surface has been identified. The drilling will be following up on the regional mapping and new sampling programs performed by the Alamos geologists, as well as initial exploration programs and data collected by Aloro. The Alamos geological team continues with detailed mapping and sampling of the Los Venados #1 and #2 concessions. Alamos has already exceeded its first year exploration expenditure commitment.

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.

As the operator, Alamos will be conducting the exploration on the Los Venados Project until a participation level is attained.

Thomas A. Doyle, President, CEO, stated 'We are very pleased with Alamos' thorough exploration program to date on the Los Venados Project.

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.

Contact:

Thomas A. Doyle

Tel: (604) 689-5722

Email: info@aloromining.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ALAMOS GOLD INC. -0.20% 9.89 Delayed Quote.-11.06%
ALORO MINING CORP. 0.00% 0.05 Delayed Quote.11.11%
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04/29Aloro Mining Corp. Reports Earnings Results for the Full Year Ended December 31, 2020
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More news
Financials
Sales 2020 - - -
Net income 2020 -0,25 M -0,20 M -0,20 M
Net Debt 2020 0,18 M 0,14 M 0,14 M
P/E ratio 2020 -8,92x
Yield 2020 -
Capitalization 2,56 M 2,07 M 2,07 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 69,6%
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Managers and Directors
Thomas A. Doyle President, Chief Executive Officer & Director
David Allen Cross Chief Financial Officer & Director
Gregory C. Burnett Independent Director
James M. Carter Independent Director
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