Luna Gold Corp Website
Luna Gold Corp. is in the business of acquiring, exploring, operating and developing gold resource properties in Brazil. Luna's proven management team has extensive experience in all facets of the mining industry, and are focused on achieving optimized production of 60,000 oz Au per year at Aurizona, increasing the resource base, expanding on the maiden NI 43-101 resource estimate at Cachoeira and developing Cachoeira as an organic growth pipeline project.
Total gold resources at Aurizona are currently estimated at 904,300 oz M&I, and 400,000 oz Inferred. Luna has commenced a 20,000m drill program to increase the size of the Aurizona resource base and define new oxide gold deposits within trucking distance of the Aurizona plant. Total gold resources at Cachoeira are currently estimated at 446,000 oz M&I, and 221,300 oz Inferred. Additionally, the Company is actively exploring for new deposits in the Maranhão Greenfields area.
Overview The Aurizona gold project is located in northeast Brazil between the cities of São Luis and Belém. The main orebody, Piaba, is a 2.9 km long orogenic gold deposit hosted in the Proterozoic Aurizona greenstone belt. The geologic setting of the project area, the São Luis Craton, is an eastern extension of the Guiana Shield which contains several major Proterozoic gold deposits (e.g. Las Cristinas, Omai, Rosebel) extending from Venezuela to Brazil (Figs 1 and 2).
The Aurizona project totals approximately 190,000 ha and is divided into two main areas:
- Aurizona Main - This area contains the Piaba and Tatajuba deposits and over 10 satellite targets, which collectively form a gold camp. It covers an area of approximately 20,000 ha and is limited by the outer limits of the Company's fully permitted mining license and the Tatajuba exploration permit (Figs. 3, 4a & 4b).
- Maranhão Greenfields. The Maranhão Greenfields project consists of all Company exploration permits located outside of the Aurizona Main area and covers an area of 170,000 ha. There are over 100 hard rock (primary) gold garimpos located within the Maranhão Greenfields permits (Fig. 3).
Overview Cachoeira is an advanced gold exploration project located in northeast Brazil between the cities of São Luis and Belém. It consists of tens of mineralized zones, which include isolated quartz vein systems, hydrothermally altered host rocks, and stockworks within the N-S trending Cachoeira Shear Zone (CSZ). Drilling to date has intersected high-grade mineralized structures and wider zones of lower-grade gold mineralization. Like Aurizona it an orogenic gold deposit hosted by intrusives and volcanics, albeit it is structurally more complex. The geologic setting of the project area, the Gurupi Greenstone Belt, is an eastern extension of the Guiana Shield which contains several major Proterozoic gold deposits (e.g. Las Cristinas, Omai, Rosebel) extending from Venezuela to Brazil (Figs 1 & 2).
The Cachoeira project consists of three mining licenses and one exploration permit totaling approximately 3,700 ha and is divided into two main target areas:
- Tucano - Tucano is located south of Cachoeira village (Fig. 3) and is the highest priority target at Cachoeira. It consists of a series of multiple stacked gold mineralized zones extending over a strike length of 400m hosted in a volcanic sequence. It is currently the site of a small garimpo (artisanal mine) operation.
- Cachoeira North - The Cachoeira North area consists of Luna's mining permits located north of the federal highway BR-316 (Fig. 3). Two sub-parallel N-S trending mineralized trends host numerous gold targets including Coruja and Arara, drilled by Luna in 2008, and which returned high gold grades. There are over 20 hard rock (primary) gold garimpos located in the Cachoeira North area.
The Maranhão Greenfields project consists of all Company exploration permits located outside of the Aurizona Main area and covers an area of 170,000 ha (Fig. 3). There are over 100 hard rock (primary) gold garimpos located within the Maranhão Greenfields permits (Fig. 3). Luna has inherited a large database covering Maranhão Greenfields from the project vendors which includes airborne geophysical surveys, soil, auger and drill data. These data are being reviewed and targets prioritized. Luna initiated a reconnaissance program of mapping and rock chip sampling in 2008 which returned gold values of up to 9.71 g/t Au in rock grab samples (these samples were neither part of, nor alone do they constitute, a statistically representative sampling program). The Company has also commissioned a high resolution satellite image (Geoeye-01) covering the entire project area.