The church is near the village of Krotos, on a steep slope within the Loutra gorge.

It is built inside a cave and is dedicated to the Virgin Mary as Zoodochos Pigi (life-giving fountain) because of a natural fountain in the rock. An inscription above its entrance indicates that it was built in 1765. The church was restored in 1999.

According to tradition, a shepherd found the icon of the Virgin Mary in the cave. It was considered a miracle, because it wasn’t originally placed there, so he founded the cavernous church.