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. (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.
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.
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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Aloro Mining Corp. published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2021 12:33:05 UTC.