ALORO MINING CORP. (the “Company” or “Aloro“) is pleased to provide an update on its Los Venados Project, Sonora, Mexico.
The Los Venados Project (LV) is located in the central part of 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, with accessory silver and copper.
As part of the ongoing exploration follow-up, beginning 2017, a reconnaissance program of sampling, mapping and assaying was conducted within the property. The large area of these mineralized and partially brecciated showings define a rhyodacitic volcanic dome that is associated with high sulphidation style alteration have been confirmed to have anomalous gold, bismuth and molybdenum in rock. Several felsic dome/ silica breccia complexes have been located throughout the property. The soil gold anomaly coincides well with the known extents of felsic dome/silica breccia complex in the southeastern portion of the concession. This felsic dome/ silica breccia complex is the highest priority exploration target observed in the southern portion of the LV mining concession and will be the initial area of drilling.
In the 4th quarter of 2017, Aloro commissioned Geofisica TMC of Mazatlán, Sinaloa, Mexico to carry out an induced polarisation (IP) survey on the Los Venados Property. This program consisted of 5.3 line-km of IP and was designed to test this felsic dome/ breccia complex. Only two lines were read during the last survey. Line 72500 N is oriented in an E/W direction, is 2.1 km long and located 300 m south of the last grid line set up in 2016 by Prospec MB survey. Line 19400 E is oriented in N/S direction is 3.2 km long and crosses the eastern part of the main grid. The previous Prospec MB survey was six lines running E/W across the property for 12.0 line-km.
The Company received the IP results and interpretation of the Geofisica IP survey report. The Company further asked Geofisica to reprocess the Prospec MB data and re-interpret all the integrated geophysical data into a single report. The results of this combined information have further confirmed a significant drill target of approximately 300 meters by 800 meters coincident with the outcropping geochemically anomalous felsic dome. This main target was mapped 1:500 scale for approximately 50 hectares, where detail was focused on alteration, lithology and structural data, as well as, sampling where necessary. Map digitizing is underway.
The 3D IP Model and IP Report has been posted on the Company’s website at www.aloromining.com.
3D Model is here: http://www.aloromining.com/i/pdf/3D-INV-RESULT–DDH-PROPOSAL.PDF
IP Report is here: http://www.aloromining.com/i/pdf/REP_275-VFE_v1_current.pdf
A new environmental permit for drilling and road building is being submitted for approval by Semarnet (Ministry of Environment and Natural Resources). This new permit is focused on the main target in the southeast of the LV concession, The Informe Preventivo, (permit) will specify and include 12 drill locations, road building, and the change from core drilling to reverse circulation drilling.
The change from core to reverse circulation drilling is based on examples of drilled areas by other companies in the area where they obtained consistently better sample recoveries with reverse circulation drills than they did from comparable areas with core drilling.
Melvin A. Herdrick , PGeo, a qualified person under NI 43-101, is responsible for the technical content contained in this press release. Mr. Herdrick has supervised the preparation of and approved the scientific and technical disclosures in this news release.
|ALORO MINERALS CORP.|
Per: “Thomas A. Doyle”
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