Frankfurt Symbol 4LPP Aloro to Acquire the Historic Quitovac MINE Project
January 31, 2023 TSX.V Symbol AORO
FRANKFURT Symbol 4LPP
ALORO TO ACQUIRE THE HISTORIC QUITOVAC MINE PROJECT
ALORO MINING CORP. – (the “Company” or “Aloro”) is pleased to announce that it 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.
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 sout h of the US International border
at Sonoyta, Sonora, Mexico.
The Quitovac mineralized area is classified with th e other orogenic shear zone gold deposits of the
region including the gold mines of Mesquite, La Choya (8kms south), La He rradura (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.
Please see the Quitovac location map:
https://aloromining.com/site/assets/files/5230/quitovac_location_map_mojave-
sonora_megashear_gold_depo.pdf
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.
Please see the Quitovac historic photo:
https://aloromining.com/site/assets/files/5230/historical-quitovac.jpg
Four modern drilling campaigns at Quitovac have been completed and total 110 drill holes with 12,450
meters drilled.
The following table specifies the various drill campaigns and company involved with each drill
campaign.
Company Year No. of drill holes Meters drilled
Penmont (Penoles-Newmont) 1987-1990 63 RC plus 2 core 6700
Santa Cruz 1996 20 RC 2885.5
Copper Ridge Exploration 2004-2005 13 Diamond drill core 1134.4
Minera Mystery 2011-2012 12 RC 1730
Terms of option are as follows:
This transaction is subject to the approval of the TSX Venture Exchange.
Thomas A. Doyle, President, CEO , stated “The acquisition of Quitovac gives Aloro a strong
exploration presence in the Mojave-Sonora Megashear. I look forward to the news flow from this area
as well as updates coming from Los Venados as Alam os Gold continues their exploration as part of
their US$5,000,000 Option Agreement.”
About Aloro Mining Corp.
Aloro controls the 3,199 hectare Los Venados Project, which is located in the central part of the Mulatos
Gold District. The western property boundary is shared with Agnico Eagl e Mines Limited where it
operates the La India open pit mine, and it is directly adjacent to the active Mulatos open pit of Alamos
Gold Inc. to the south. The known mineralization within the Mulatos District is gold-dominant, mainly
high sulfidation epithermal type of mineralization, with accessory silver and copper.
ALORO MINING CORP.
Per: “Thomas A. Doyle”
Thomas A. Doyle
President & CEO
http://www.aloromining.com/
For further information, please
contact:
Thomas A. Doyle
Phone: (604) 689-5722
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
Payment Date
Cash Payment
Amount Share Issuance
Within 30 days of the Approval Date $35,000+VAT 200,000
On or before the date that is one (1) year after
the Approval Date $45,000+VAT 200,000
On or before the date that is two (2) years
after the Approval Date $55,000+VAT 200,000
On or before the date that is three (3) years
after the Approval Date $65,000+VAT 200,000
On or before the date that is four (4) years
after the Approval Date $75,000+VAT 300,000
On or before the date that is five (5) years
after the Approval Date $100,000+VAT 400,000
On or before the date that is six (6) years
after the Approval Date
$200,000+VAT 500,000
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.