Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
LUNA GOLD FURTHER INCREASES STRATEGIC LAND POSITION AT AURIZONA
Dec 13, 2010 09:21:00 (ET)
VANCOUVER, Dec 13, 2010 /PRNewswire via COMTEX/ -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce that it has been granted a further 35,000 ha of new mineral exploration licenses in the Aurizona Regional project area by the Brazilian Mines Department (DNPM).
The granting of the four new exploration licences has increased the Company's landholding to 165,000 ha of contiguous areas 100% owned by Luna's Brazilian subsidiary company. The Aurizona Regional project area is located to the southwest and southeast of the Aurizona Main project area and contains multiple shear zones and numerous historic artisanal gold workings. A new claim map has been uploaded to the Luna Gold website at www.lunagold.com or to view map directly click here.
Luna's President & CEO, John Blake, comments, "This latest addition to our landholding further consolidates our dominant and strategic land position in the prospective Aurizona Regional district. The area is 100% owned by Luna and has seen very little modern exploration."
The Aurizona Regional project is located within the São Luis Craton, southeast of the Guiana shield, which hosts several major gold deposits including Rosebel and Las Cristinas. Geologic reconstruction of the South American and African continents places the São Luis Craton in close proximity to the Birimian Gold Belt of West Africa. Strong geologic and structural similarities exist between the São Luis Craton, the Guiana shield and the West African Craton. The area is characterized by low relief and an extensive sedimentary cover sequence with deep weathering profiles. Over 50 gold garimpos (artisanal gold workings) occur within the Aurizona Regional project area. Historic exploration in the district was limited to soil and rock sampling, auger drilling, geophysical surveys and some shallow reconnaissance drill holes.
Luna's VP Exploration, Titus Haggan, states, "These areas were staked following a detailed reinterpretation of Luna's proprietary aerogeophysical survey in late 2009 and field reconnaissance in early 2010 which identified extensions to the Aurizona Group greenstone terrain in northwest Maranhão in areas previously mapped as crystalline basement. Numerous regional scale structures and strong magnetic anomalies occur in the new areas which are characteristics shared with the Aurizona Main gold camp. Our exploration teams are currently exploring in four target areas at Aurizona Regional."
News Release November 29, 2010
http://www.lunagold.com/s/NewsReleases.asp?ReportID=431043
Vancouver, November 29, 2010 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to provide an update on exploration activities at its Cachoeira gold project including results of extensive auger drilling and surface channel sampling programs at the Coruja and Arara targets located to the north of the Tucano deposit within the Cachoeira Shear Zone. A new map has been uploaded to the Luna Gold website at www.lunagold.com or to view map directly click here. Highlights include:
750 meter long mineralized quartz vein system averaging 1.5 meters wide defined at Coruja via surface channel sampling including:
•8.07 meters @ 3.17 g/t Au including 1.01 meters @ 17.01 g/t Au in channel OC-51 along vein
•5.07 meters @ 4.42 g/t Au and 10.83 meters @ 3.24 g/t Au including 4.04 meters @ 7.68 g/t Au in channel OC-52 along vein
•1.96 meters @ 11.64 g/t Au and 4.70 meters @ 5.40 g/t Au in channel OC-92 along vein
Surface oxide mineralization defined via auger drilling program at Coruja including:
•7.00 meters @ 4.77 g/t Au including 1.00 meter @ 23.00 g/t Au and 5.00 meters @ 1.68 g/t Au in auger hole TX0353
•7.00 meters @ 1.06 g/t Au in auger hole TX0368
•3.00 meters @ 2.25 g/t Au in auger hole TX0331
Surface oxide mineralization defined via auger drilling program at Arara including:
•4.50 meters @ 1.30 g/t Au in auger hole TX0271
•6.60 meters @ 21.83 g/t Au including 1.60 meter @ 88.28 g/t Au in auger hole TX0291
Luna's President & CEO, John Blake, comments, "These ongoing results continue to unlock upside potential and increased confidence in the Cachoeria deposit. These results combined with those previously drilled, are being incorporated into a maiden NI 43-101 mineral resource estimate to be released in December 2010 for the Cachoeira Gold Project.
New image in the Ibox and several new announcements. All looking good!
b4
LUNA GOLD SIGNIFICANTLY INCREASES LAND POSITION AT AURIZONA AFTER IDENTIFYING MULTIPLE GEOPHYSICAL ANOMALIES
Nov 16, 2010 08:30:00 (ET)
VANCOUVER, Nov 16, 2010 /PRNewswire via COMTEX/ -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce that it has been granted a further 70,000 ha of new mineral exploration licenses in the Aurizona Regional project area by the Brazilian Mines Department (DNPM).
The granting of the eight new exploration licences more than doubles the size of the Aurizona Regional landholding which now totals 130,000 ha of contiguous areas 100% owned by Luna's Brazilian subsidiary company. The Aurizona Regional project area is located to the southwest and southeast of the Aurizona Main project area and contains multiple shear zones and numerous historic artisanal gold workings. A new claim map has been uploaded to the Luna Gold website at www.lunagold.com or to view map directly click here.
Luna's President & CEO, John Blake, comments, "This is a major addition to our landholding. Luna has consolidated a dominant and strategic land position in the prospective Aurizona Regional district. The area is 100% owned by Luna and has seen very little modern exploration. It is an exciting time for the Company as we near feasibility level production at Aurizona and advance the resource drill program at the Piaba deposit."
The Aurizona Regional project is located within the São Luis Craton, southeast of the Guiana shield, which hosts several major gold deposits including Rosebel and Las Cristinas. Geologic reconstruction of the South American and African continents places the São Luis Craton in close proximity to the Birimian Gold Belt of West Africa. Strong geologic and structural similarities exist between the São Luis Craton, the Guiana shield and the West African Craton. The area is characterized by low relief and an extensive sedimentary cover sequence with deep weathering profiles. Over 50 gold garimpos (artisanal gold workings) occur within the Aurizona Regional project area. Historic exploration in the district was limited to soil and rock sampling, auger drilling, geophysical surveys and some shallow reconnaissance drill holes.
Luna's VP Exploration, Titus Haggan, states, "The landholding was staked following a detailed reinterpretation of Luna's proprietary aerogeophysical survey in late 2009. The reinterpretation coupled with field reconnaissance has identified extensions to the Aurizona Group greenstone terrain in northwest Maranhão in areas previously mapped as crystalline basement. Numerous regional scale structures and strong magnetic anomalies occur in the new areas which are characteristics shared with the Aurizona Main gold camp. Our exploration teams are currently exploring in four target areas at Aurizona Regional."
New PR looks great!
b4
http://www.lunagold.com/s/NewsReleases.asp?ReportID=427421
New press release!
b4
News Releases October 27, 2010
Luna Gold Reports High-Grade Gold Intersections From Auger Drilling And Channel Sampling At Cachoeira
http://www.lunagold.com/s/NewsReleases.asp?ReportID=425170
Charts are half art and half science.
Patterns do repeat and I think you have a winner here.
Once again it pays to follow B4ATF.
Great charts! I made that a sticky.
b4
Thanks pn, this site still sucks. I need to update the Ibox and get a bunch of new info posted. This is all crap from 2006. I like Luna a lot but have not put much time in on the board yet.
b4
"Ome small step for man... One giant leap for..."
Great to see you here gem!
b4
You seem to have the "GOLDEN TOUCH" my friend,Good Luck here with Luna.Looks like you made the second Luna Landing.
Kind of a sleeper like most juniors right now. Buyouts and consolidation will be the ticket next year. Those who produce already have the edge and reserves like Luna's with equipment on site and ready to roll will be the first apples picked off the tree.
Junior picks get rarer everyday. You know I got some 10 baggers in mind but this multi bag play is worth a look.
Thanks for joining the board pn!
b4
This board has been fairly neglected. Luna has a very bright future. I am the new moderator. If you are holding and watching LGCU I will welcome new data and some assistants. PM or just post to the board. Price to book is really positive. Let's get some word out!
b4atf
Using a base case gold price of $1,000 per ounce, the Report shows that Aurizona has a net pre-tax cash flow (undiscounted) of $153 million with an after tax Net Present Value (NPV) of $81 million using a 8% discount rate. The mine would recover approximately 670,000 ounces of gold at a waste to ore strip ratio of 3.4 to 1 over a 12-year mine life.
Doug Casey and Jim Sinclair have mentioned this play recently.
b4
Not very much new content on this board. Luna has geat potential for a buyout in my opinion. Nice proven preserves and Brazil is the first of the BRICS.
News Releases September 03, 2010
Luna Gold Releases Updated NI 43-101 Technical Report for Aurizona Gold Project
--------------------------------------------------------------------------------
Vancouver, September 3, 2010 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce the results of the updated NI 43-101 compliant technical report, entitled "NI 43-101 Technical Report Mineracao Aurizona S.A, Aurizona Project, Maranhão, Brazil, dated September 1, 2010" (the "Report") for its 100% owned Aurizona Gold Project ("Aurizona") located in the state of Maranhão, northeastern Brazil between the cities of São Luis and Belém. The Report was completed by SRK Consulting (U.S.) Inc. ("SRK"), using a base case Measured and Indicated Mineral Resource of approximately 0.9 million ounces of gold (21.1 million tonnes grading 1.3 g/t gold at a cut-off grade of 0.3 g/t which relates to the economic cut-off in the Report) based on January 15, 2009 estimates. Using a base case gold price of $1,000 per ounce, the Report shows that Aurizona has a net pre-tax cash flow (undiscounted) of $153 million with an after tax Net Present Value (NPV) of $81 million using a 8% discount rate. The mine would recover approximately 670,000 ounces of gold at a waste to ore strip ratio of 3.4 to 1 over a 12-year mine life.
Mineral Resources as at January 15, 2009
kt
Au g/t
Au Ounces
Measured
1,500
1.44
69,000
Indicated
19,621
1.29
835,300
Measured and Indicated
21,121
1.33
904,300
The Inferred Mineral Resource is 0.4 million ounces of gold (10.9 million tonnes grading 1.14 g/t gold at the same cut-off grade).
The Report is based on and supports the resource estimate previously disclosed in January 2009 and demonstrates strong financial returns in the current economic climate and will be the foundation for further growth as Aurizona continues with the commissioning of its process plant and exploration programs.
"This report continues to demonstrate the robust economics of Aurizona. Management sees this as a good start to build upon in the coming years", commented Jim Bahan, Luna's President & CEO. "We are now focused on ramping up production in the coming months and launching our aggressive exploration program to expand the company's total gold resources."
All dollar amounts presented in this press release are expressed in US dollars. An exchange rate of 1.80 Brazilian Reais to US dollars was used where costs were based on Brazilian expenditures.
The report will be filed and made available on SEDAR.
Summary Highlights
Estimated Contained Gold
729,000
oz
Estimated Net Recoverable Gold (based on 92% recovery)
670,000
oz
Mill throughput rate
Daily
4,100
Tonnes
Annual (million)
1.5
Tonnes
Life of Mine
12
Years
Overall Strip Ratio
3.4
Capital Expenditure
Initial
$65.2
M
Sustaining
$17.7
M
Total
$82.9
M
Total Operating Cost per ounce (1)
$516
Years 1 to 3
Life of Mine
Gold Production (oz per year)
51
56
Average feed grade to mill (grams per tonne)
1.25
1.32
Operating cost per ounce
$481
$516
Sensitivity Analysis
Economic results for the Base Case plant throughput of 1.5Mtpa and 1.8Mtpa are as follows:
Base Case
Base Case + 20%
(1.5 Mtpa)
(1.8 Mtpa)
Net Present Value (NPV) at 8% Discount Rate
$81M
$100M
Net Cash flow (NPV at 0% Discount Rate)
$153M
$170M
Internal Rate of Return (IRR)
44%
58%
The basis of this assumption is that the Company's operations can increase production from 1.5Mtpa to 1.8Mtpa without any significant capital investment. It should be noted that the 1.8Mtpa sensitivity merely accelerates the 1.5Mtpa production schedule and does not account for seasonality of mining rate assumed in the 1.5Mtpa base case.
1.Total operating costs per ounce is a non-GAAP measure. It does not have a standardized meaning prescribed by GAAP and may not be comparable to similar measures presented by other mining companies.
About Luna Gold Corp
Luna is a gold mining and exploration company engaged in the exploration and development of gold deposits and advanced stage gold exploration projects in Brazil. The Company is currently commissioning its Aurizona gold mine in Maranhão, Brazil.
http://www.lunagold.com/s/NewsReleases.asp?ReportID=417464
September 07, 2010
Luna Gold Clarifies Press Release on Its Updated NI 43-101 Technical Report for Aurizona
--------------------------------------------------------------------------------
Vancouver, September 7, 2010 -- Luna Gold Corp. (TSXV-LGC). Further to its September 3, 2010 press release with respect to its updated NI 43-101 compliant technical report (the "Report") for its 100% owned Aurizona Gold Project ("Aurizona") Luna Gold Corp. ("Luna" or the "Company") wishes to provide additional information to clarify its earlier press release. The Report was completed by SRK Consulting (U.S.) Inc. ("SRK") and up-dates the mineral resources (outlined in our September 3, 2010 press release) and mineral reserves of the Piaba Gold deposit. Mineral reserves are based on a culmination of pit optimization, pit design and associated mine economics and are corrected for site (July 13, 2010) topography and stockpile survey. Only measured and indicated resources were used to estimate proven and probable reserves within the pit limits. Inferred material is treated as waste with zero grade.
Summary of Proven and Probable Reserves for Piaba (As of July 13, 2010)
kt
Au g/t
Au Ounces
Proven
1,418
1.46
67,000
Probable
15,749
1.36
664,000
Proven and Probable
17,167
1.36
731,000
Notes:
(1) Proven and Probable reserves include inventory stockpiles.
(2) SRK is not aware of any environmental, permitting, legal, title, taxation, political or socioeconomic factors which may materially affect the stated reserves. For the additional information with respect to the assumptions and parameters relating to the above reserve estimates the reader should refer to the Report.
The September 3, 2010 press release summarizes the economic analysis of the Report required by Item 25 of Form 43-101F1 for a development property. For clarification, the economic analysis is based on the mineral reserves only.
About Luna Gold Corp
Luna is a gold mining and exploration company engaged in the exploration and development of gold deposits and advanced stage gold exploration projects in Brazil. The Company is currently commissioning its Aurizona gold mine in Maranhão, Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
Jim Bahan-- President and CEO
Website: www.lunagold.com
For further information contact Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317.
Hi board, I own a bunch of Luna. We sure are not getting the benefit of the rise in gold. Still I am green and expect a pretty good jump soon.
b4
huge record volume here today yet the price did not move much, only slightly up. what shall happen tomorrow?
Wed Aug 6, 2008
Luna Gold Intercepts 30.00 M Of 3.52 g/t Au And 40.00 M Of 2.01 g/t Au At Aurizona Demonstrating Vertical Continuity Of High-Grade Gold Mineralization
--------------------------------------------------------------------------------
View PDF Version of News Release
Vancouver, August 6, 2008 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce new assay results from the Company's ongoing drill program at Piaba, the main gold deposit at its wholly owned gold project, Aurizona. Significant mineralized intercepts are highlighted below.
30.00 meters @ 3.52 g/t Au including 2.00 meters @ 28.29 g/t Au in hole BRAZD-262
7.00 meters @ 3.67 g/t Au in hole BRAZD-263
60.00 meters @ 1.39 g/t Au in hole BRAZD-264
12.00 meters @ 3.25 g/t Au and 40.00 m @ 2.01 g/t Au including 7.00 meters @ 7.06 g/t Au in hole BRAZD-265
Luna's CEO, Tim Searcy, comments "Drilling from the fresh rock zone, in the central portion of Piaba, continues to return grades that are well above average for the deposit. This, obviously, has very positive implications for continued resource growth at Piaba. Furthermore, these deeper intercepts are approximately 50m below the pit floor as modeled in Luna's recently delivered Feasibility Study (see press release dated July 7th) and represent excellent potential to enhance the project economics."
Complete assay results have been received for a further 5 holes totaling 978 meters drilled in the east-central portion of the Piaba deposit (assays for the full length of each hole will be available on the Company's website shortly, and will be updated as new information is released). All drill holes intersected gold mineralization. Significant mineralized intercepts are tabulated below.
Thu Jun 26, 2008
Luna Gold Intercepts 6.00 M Of 12.58 G/T At The Cachoeira Gold Project, Pará State, Brazil
--------------------------------------------------------------------------------
Vancouver, June 26, 2008 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce assay results from the first nine holes of the Company's ongoing 6,000 m drill program at its Cachoeira gold project, including hole LCD-009 which intercepted 6.00 meters of 12.58 g/t Au. Significant mineralized intercepts are highlighted below.
6.00 meters @ 12.58 g/t Au in hole LCD-009
2.00 meters @ 9.50 g/t within 15.00 meters @ 1.75 g/t Au in hole LCD-008
2.00 meters @ 5.40 g/t Au in hole LCD-007
14.35 meters @ 1.68 g/t Au in hole LCD-004
1.00 meter @ 9.52 g/t Au in hole LCD-006
97.00 meters @ 0.43 g/t Au in hole LCD-001
Luna's CEO, Tim Searcy comments, "This first set of drill results from Cachoeira highlights the quality of projects that Luna is acquiring in the northeast of Brazil. The advanced stage exploration ongoing at Cachoeira is an excellent complement to the feasibility work ongoing at the Aurizona project 100 km to the northeast."
He continues, "These results come from the Arara target, which is the most northerly target along the 5 km of variably mineralized strike at Cachoeira. The Company is very pleased with the high grade intervals encountered at Arara, as it is viewed, primarily, as an underground type target. Further south along strike, the targets Coruja and Toucano have potential for both broad zones of lower-grade mineralization and structurally controlled higher-grade mineralization. Drilling will continue at Cachoeira for two months as the Company has a contract for a minimum of 6,000 m in this phase. Luna anticipates the delivery of the first NI 43-101 resource estimate for Cachoeira by the second quarter of 2009. The estimate will incorporate historic drilling from previous operators and Luna's recent results."
Complete assay results have been received for 9 holes totaling 1940 metres. Significant mineralized intercepts are tabulated below (assays for the full length of each hole will be available on the Company's website shortly, and will be updated as new information is released). The holes were drilled on east-west sections spaced approximately 50 meters apart on the Arara Target Area in the north of the project area. Project maps have been updated to the Company's website. (http://www.lunagold.com/i/pdf/Arara_Plan_Map_240608.pdf)
Tue May 20, 2008
Luna Gold Increases Resources by 48% at the Aurizona Gold Project, in Brazil
--------------------------------------------------------------------------------
View News Release in PDF Format
Vancouver, May 20, 2008 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to release a NI 43-101 compliant resource for its wholly owned Aurizona gold project, in Maranhão State, Brazil. Luna has increased both the indicated and inferred resource, from their historic levels, by 48%. Aurizona now has a measured and indicated resource of 763,000 ounces gold and an inferred resource of 525,000 ounces gold.
Table 1. - Aurizona 43-101 Resource Estimate (May 2008)
Measured Indicated M&I Inferred
--------------------------------------------------------------------------------
tonnes
(Kt) Au
(g/t) oz tonnes
(Kt) Au
(g/t) oz oz tonnes
(Kt) Au
(g/t) oz
--------------------------------------------------------------------------------
Piaba 1,400 1.39 63,000 15,361 1.29 635,000 698,000 10,760 1.36 469,000
Tatajuba 1,554 1.30 65,000 65,000 1,859 0.94 56,000
--------------------------------------------------------------------------------
total 1,400 1.39 63,000 16,915 1.29 700,000 763,000 12,619 1.29 525,000
1) 0.3 g/t cut-off
2) 20g/t cap at Piaba and a 10g/t cap at Tatajuba
3) block dimensions are 10m x 10m in the xy plane and 3m on the z axiz
4) Piaba database consists of 150 diamond drill holes and 62 RC holes
5) Tatajuba database consists of 45 diamond drill holes
6) Piaba drill results released after 28 January 2008 have not been included in this resource estimate
7) Tatajuba drill results released after 19 March 2008 have not been included in this resource estimate
8) Mineral resources that are not mineral reserves do not have a demonstrated economic viability
9) the independent QP responsible for the mineral resource estimate is Leah Mach, CPG, of SRK Consulting, Denver
Luna's CEO, Tim Searcy, comments, "The Company has had great success in upgrading and expanding the historic resource. 4,500m of drilling at Piaba and 1,800m at Tatajuba has increased the resources by nearly fifty percent. I am confident that the deposit will continue to grow, because: 1) drilling has not yet identified a bottom to the deposit, 2) Orogenic gold deposits, like the deposits at Aurizona, typically have good vertical continuity, and 3) the last five holes reported from Piaba (please see the press release dated 28 February 2008 & 22 April 2008) were not included in this estimate, but they have all intersected similarly styled mineralization at depths amenable to open-pit mining. The Company continues to drill at Aurizona, with the focus still on Piaba and Tatajuba."
SRK Consulting has been commissioned to undertake a 43-101 reserve statement for Luna Gold on the Aurizona project. This resource estimate constitutes part of that work. Luna intends to file a NI 43-101 compliant technical report within 45 days of this release.
Exploration Targets
A number of parallel to sub-parallel trends exist to the northwest and southeast of the main Piaba-Tatajuba structure; please visit www.lunagold.com/i/maps/Aurizona_Targets.jpg to see the locations of the various trends. Some of these trends have been drill tested by past operators along various sections. Selected results from the historic drilling are listed in Table 2.
Table 2. - Significant Intercepts from Satellite Targets (Historic Drilling from previous operators)
Target Hole # From
(m) To
(m) Length
(m) True
Width
(m) Grade
(g/t) Comments
--------------------------------------------------------------------------------
Micote BRAZD-013 89.00 101.27 12.27 6.1 3.16 - includes 0.95m of 31.76 g/t
117.00 124.15 7.15 3.6 2.65 - includes 0.7m of 12.7 g/t
BRAZD-014 0.00 29.43 29.43 14.7 1.34
BRAZD-035 90.72 96.00 5.28 2.6 12.18 - includes 0.78m of 75.0 g/t
Boa Esperança BRAZD-160 47.88 57.50 9.62 6.2 1.01
BRAZD-163 1.20 9.00 7.80 5.0 1.14
BRAZP-08 22.00 33.00 11.00 3.8 1.24
Pé Grande BRAZD-153 8.80 18.20 9.40 6.2 1.47
Ferradura BRAZD-172 14.00 26.00 12.00 7.7 1.39
BRAZD-178 32.00 39.00 7.00 4.5 2.88
Sao Lourenço BRAZD-127 44.00 48.00 4.00 2.8 4.60
54.00 58.78 4.78 3.4 5.77 - includes 0.55m of 20.68 g/t
BRAZD-149 4.00 7.15 3.15 2.0 10.73 - includes 1.3m of 32.63 g/t
Rio Bonito BRAZD-046 30.00 32.23 2.23 1.3 2.50
Pirocaua BRAZD-182 67.00 106.46 39.46 25.4 1.67
BRAZP-05 0.00 5.00 5.00 5.0 2.11
- the complete drill database for the Aurizona project can be found at www.lunagold.com
Luna's Exploration Manager, Titus Haggan states "Limited drilling and deposit reinterpretation has provided very positive results to date. Drilling at Aurizona is ongoing, focusing on depth expansion at Piaba and strike and depth expansion at Tatajuba. In addition, Luna has yet to test a number of the other satellite deposits that occur in the immediate vicinity of Piaba and Tatajuba within the area defined as Aurizona Main. In the coming months, a second drill rig will be added to the project to begin the testing of these targets."
Methodology of the Resource Estimate
Mineralized envelopes were defined at 0.3g/t for both Piaba and Tatajuba. At Piaba, an indicator was used to define waste and mineralized zones within the mineralized envelope. Grade estimation for both deposits utilized inverse distance squared using only composites within the mineralized envelope. Estimation parameters for measured and indicated required a minimum of 2 drillholes, minimum of 4 composites and maximum of 15. Grades were estimated in 2 passes, with all composites within 15m of the block centroid for the first and within 60m for the second. A third pass which required only 1 drillhole and a minimum of 3 composites and that all composites be within 120m of the block centroid was used to estimate the inferred blocks. The resources were classified as Measured, Indicated, or Inferred based on the pass in which the block was estimated. The resource model was verified by visual inspection of the blocks and drillholes on cross-sections and horizontal sections, by comparison of the statistics of the blocks and composites, and by swath plots through the deposit.
Geology & Mineralization
The Piaba and Tatajuba deposits are classified as Orogenic Gold Deposits and represent ENE trending near vertical mineralized envelopes of gold mineralization within a major ENE-trending fault zone in the Aurizona Group. The Piaba deposit is hosted in a northern hanging wall volcanic sequence. The deposit footwall is formed by a distinctive graphitic volcano-sedimentary sequence which delimits the deposit to the south. The volcanic sequence is andesitic to basaltic in composition. Primary gold mineralization shows a close spatial association with graphitized andesites and diorites and strong quartz veining with an associated chlorite-carbonate overprint. Piaba is a bulk tonnage, low-grade gold deposit amenable to open pit mining methods situated in a tropical environment similar to other gold deposits in this part of South America including the Las Cristinas and El Callao gold deposits in Venezuela, the Omai Gold Mine in Guyana, and the Gross Rosebel gold deposit in Suriname. Mineralization at Tatajuba is similar in nature to Piaba.
About Luna Gold Corp
Luna is a mining exploration company focused on the acquisition, exploration, and development of gold resources and advanced stage gold exploration projects in northeastern Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
Tim Searcy, P. Geo. - President and CEO
Website: www.lunagold.com
For further information contact Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
Regulatory Footnotes
Exploration on the Aurizona Project was initiated in 1978 by Brascan Recursos Naturais S.A. (Brascan) and continued through the 1990's with work by Brascan, Unamgen Mineração e Metalurgia S.A (Unamgen) an exploration subsidiary of Gencor Ltd and Eldorado Gold Corp (Eldorado). Luna acquired the property in 2007 and commenced exploration soon after. Historic drill core (HQ [63.5mm] diameter) analyses by previous operators Uamgem and Eldorado were conducted at Nomos Laboratory in Rio de Janeiro and Bondar Clegg Laboratory in Luziânia, Goias respectively. Unamgen and Eldorado conducted laboratory QA/QC programs and retained all original assay certificates. Luna used Acme Laboratories Ltda in Maraba, Brazil and Vancouver, Canada. Luna's QA/QC program consists of blanks, Certified Reference Materials (CRM), pulp check assays at ALS Chemex in Belo Horizonte, Minas Gerais and coarse reject check assays at Acme and at ALS Chemex. The Piaba resource estimate contains drill data produced up to 01/12/2007 and Tatajuba contains drill data produced through 01/02/2008.
Leah Mach, CPG, of SRK Consulting is a Qualified Person as defined under National Instrument 43-101. Ms Mach is responsible for the resource estimate on the Aurizona Project.
Tim Searcy, PGeo, APEGBC, Luna's President and CEO, is a Qualified Person as defined under National Instrument 43-101 has reviewed and approved of all the disclosure in this document.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the United States Securities Act of 1933 and applicable state securities laws or an exemption from such registration is available.
Thu May 15, 2008
Luna Gold Nominates Mr. Nolan Watson for Board of Directors
--------------------------------------------------------------------------------
Vancouver, May 15, 2008 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce that Mr. Nolan Watson has agreed to stand for election as a director at the Company's Annual General Meeting scheduled for June 18th 2008.
Tim Searcy, Luna's President comments: "We are pleased to be in a position to add Mr. Watson to Luna's board of directors. His experience financing and growing precious metals companies will strengthen the board at this important time, as Luna moves its Aurizona project towards development."
Mr. Watson is the Chief Financial Officer of Silver Wheaton, a TSX and NYSE listed company, and the largest pure silver company in the world. Mr. Watson was Silver Wheaton's first full-time employee and has played an instrumental role in building that company. Mr. Watson has participated in a number of equity and debt financings, and in the role of Silver Wheaton's CFO, led the 3rd largest bought deal financing in Canadian history.
Mr. Watson, a former Valedictorian of the Chartered Accounting Program, is a Chartered Financial Analyst charterholder and holds a Bachelor of Commerce Degree, with honours, from the University of British Columbia. Prior to his role with Silver Wheaton, he worked in the Corporate Finance department of Deloitte and Touche where he specialized in financial advisory services, including mergers and acquisitions.
Director, Gregg Sedun, will not be standing for re-election at Luna's AGM, but has agreed to join the Company's advisory board and will continue to provide guidance to the Company. Luna would like to thank Mr. Sedun, a founder, for his efforts in advancing the Company. The management and directors of Luna wish Mr. Sedun all the best in his future endeavors.
Tue Apr 22, 2008
Luna Gold Intercepts 73.00 M Of 1.47 G/T Au At Aurizona And Continues To Extend Gold Mineralization At Depth
--------------------------------------------------------------------------------
Vancouver, April 22, 2008 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce new assay results from the Company's ongoing drill program at Piaba, the main gold deposit at its wholly owned gold project, Aurizona. Significant mineralized intercepts are highlighted below.
20.24 meters @ 2.30 g/t Au including 5.24 meters @ 4.25 g/t Au in hole BRAZD-252
73.00 meters @ 1.47 g/t Au in hole BRAZD-253
39.00 meters @ 1.56 g/t Au in hole BRAZD-255
Luna's CEO, Tim Searcy, comments, "This latest round of drilling at Piaba has focused primarily on extending the mineralization at depth. The first four holes, reported here, extend the mineralization at depth; however, the deepest of these mineralized intercepts are less than 150 m in the vertical. Therefore, there is still significant depth potential at Piaba that remains to be tested."
Complete assay results have been received for a further 4 holes totaling 795 metres drilled in the east central portion of the Piaba deposit. None of the results from this round of drilling have been included in the upcoming resource estimate, due out in mid May. All the drill holes intersected gold mineralization. Significant mineralized intercepts are tabulated below.
HOLE ID AZI DIP DEPTH (m) FROM (m) TO (m) INT (m) AU (g/t)
BRAZD-252 168 50 224.65 69.00 75.00 6.00 2.15
113.00 117.00 4.00 2.29
121.76 142.00 20.24 2.30
including 121.76 127.00 5.24 4.25
BRAZD-253 168 55 236.80 81.00 154.00 73.00 1.47
166.00 175.00 9.00 1.50
BRAZD-254 168 50 204.70 113.00 139.69 26.69 1.39
including 138.00 139.69 1.69 8.28
BRAZD-255 168 50 128.85 23.00 62.00 39.00 1.56
including 50.00 57.00 7.00 3.17
Table1. Mineralized intercepts from the Piaba deposit. Width in the table represents core width of the intersections, and does not represent the true width.
Luna's Exploration Manager, Titus Haggan states, "The Piaba drill program continues to intersect gold mineralization at depth. The gold is hosted in a highly altered volcanic sequence cut by quartz veins located within the major Aurizona structure, which also hosts the Tatajuba satellite deposit. The drill holes reported here are the first holes from the new Piaba deep drill program and the results demonstrate that the deposit remains open at depth."
Three of the drill holes were sited to test the vertical continuity to the fresh rock mineralization at Piaba. All these holes extended gold mineralization at depth. Drill hole BRAZD-252 intersected several zones of gold mineralization including 6.00 m @ 2.15 g/t in oxide and two zones of fresh rock mineralization, the best of which returned 20.24 m @ 2.30 g/t Au. BRAZD-253 intersected 73.00 meters @ 1.47 g/t Au from 81.00 meters depth and considerably extends the deposit at depth in this area. BRAZD-254 intersected 26.69 meters @ 1.39 g/t Au and also extends the depth of mineralization. BRAZD-255 was an infill hole on section 375W required for mine planning and intersected 39.00 meters @ 1.56 g/t Au.
About Luna Gold Corp
Luna is a mining exploration company focused on the acquisition, exploration, and development of gold resources and advanced stage gold exploration projects in northeastern Brazil.
Jesus look at what this did...
hmmmm looked at this one today. watching might grab some at some point.
Followers
|
5
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
135
|
Created
|
12/12/05
|
Type
|
Free
|
Moderators |
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.
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.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |