Luna Gold Corp. (fka LGCUF)

[b4atf]

LUNA GOLD DRILLS 19.00 M @ 1.45 G/T AU AND 2.00 M @ 130.45 G/T AU AT AURIZONA

Mar 15, 2011 08:30:00 (ET)

VANCOUVER, March 15, 2011 /PRNewswire via COMTEX/ -- Luna Gold Corp. ("Luna" or the "Company") is pleased to announce positive assay results from eight holes from its ongoing resource drill program at the Piaba gold deposit, Aurizona. An updated drill plan map and cross sections have been uploaded to the Luna Gold website at www.lunagold.com or to view directly click below. Significant mineralized intercepts are highlighted below:

19.00 m @ 1.45 g/t Au including 2.00 m @ 5.99 g/t Au and 1.00 m @ 6.44 g/t Au in BRAZD285

15.00 m @ 1.46 g/t Au including 1.00 m @ 4.20 g/t Au in BRAZD286

9.00 m @ 2.23 g/t Au including 1.00 m @ 10.65 g/t Au and 2.00 m @ 8.85 g/t Au in BRAZD287

2.00 m @ 130.45 g/t Au and 6.00 m @ 1.67 g/t Au including 2.00 m @ 3.83 g/t Au in BRAZD288

Direct Links

400W 900W 1000W Aurizona Drill Plan Map Feb. 2010

Luna's President & CEO, John Blake, comments, "We are pleased with the level of consistency in our drill results that demonstrate the strike and depth continuity of the ore body. Consistent mineralization along strike and at depth is encouraging for our objective to increase gold ounces in a resource update at the completion of our drill program planned for delivery in the Q4 of 2011."

The Company embarked on a 20,000 m drill program in August 2010 and currently has seven drill rigs in operation at Aurizona. Assays from 15 holes have been received and samples from 7 additional holes are at the assay lab. Drilling is currently focused on infilling over the 3 kilometer strike length of the Piaba deposit to increase measured and indicated resources. Holes are being drilled on 100 meter spaced sections to a maximum depth of -300 meters RL. Drill production has increased significantly in recent weeks.

Complete assay results have been received for eight drill holes totaling approximately 1,738 m drilled on five sections in the central portion of the Piaba deposit. In seven holes core was recovered from 100 meters depth to accelerate drill production and reduce costs. All drill holes intersected gold mineralization and the deposit remains open at depth on all sections. Significant mineralized intercepts are tabulated below.


SECTION HOLE ID AZI DIP START DEPTH (M) END DEPTH (M) FROM (M) TO(M) INT(M) AU (G/T) UNCAPPED
100W BRAZD284 168 62 100.00 238.50 210.00 221.00 11.00 0.98
224.00 234.00 10.00 0.59
BRAZD289 168 51 100.00 229.75 150.00 154.00 4.00 0.67
163.00 171.00 8.00 1.52
199.00 206.00 7.00 1.31
200W BRAZD285 168 59 100.00 295.80 156.00 157.00 1.00 4.54
161.00 166.00 5.00 1.17
182.00 223.00 41.00 0.95
INCLUDING 190.00 191.00 1.00 4.58
INCLUDING 211.00 212.00 1.00 6.97
232.00 239.00 7.00 1.19
245.00 264.00 19.00 1.45
INCLUDING 253.00 255.00 2.00 5.99
INCLUDING 260.00 261.00 1.00 6.44
286.00 291.00 5.00 1.45
400W BRAZD287 168 71 100.00 377.65 164.00 168.00 4.00 1.18
172.00 177.00 5.00 0.81
181.00 186.00 5.00 0.72
216.00 225.00 9.00 0.78
231.00 234.00 3.00 1.50
252.00 253.00 1.00 12.55
261.00 265.00 4.00 1.70
296.00 299.00 3.00 1.55
307.00 311.00 4.00 1.76
315.00 324.00 9.00 2.23
INCLUDING 323.00 324.00 1.00 10.65
330.00 335.00 5.00 1.06
374.00 376.00 2.00 8.85
BRAZD291 168 63 100.00 319.25 142.00 146.00 4.00 1.43
166.00 167.00 1.00 15.85
173.00 179.00 6.00 2.59
INCLUDING 175.00 176.00 1.00 10.00
204.00 214.00 10.00 0.84
INCLUDING 213.00 214.00 1.00 3.29
220.00 233.00 13.00 0.62
244.00 250.00 6.00 0.99
270.00 273.00 3.00 1.54
278.00 282.00 4.00 1.00
292.00 300.00 8.00 1.90
INCLUDING 294.00 295.00 1.00 7.08
309.00 314.00 5.00 2.02
900W BRAZD286 168 67 100.00 293.65 161.00 162.00 1.00 16.95
169.00 184.00 15.00 1.46
INCLUDING 183.00 184.00 1.00 4.20
270.00 272.00 2.00 2.47
BRAZD288 168 55 100.00 202.00 144.00 145.00 1.00 4.29
151.00 153.00 2.00 130.45
159.00 166.00 7.00 0.76
169.00 176.00 7.00 1.38
INCLUDING 171.00 172.00 1.00 4.83
180.00 186.00 6.00 1.67
INCLUDING 184.00 186.00 2.00 3.83
lOOOW BRAZD290 168 78 0.00 481.35 300.00 314.00 14.00 0.93


Table 1. Mineralized drill intercepts from the ongoing Aurizona resource drill program. Intervals are calculated as composites using a 0.30 g/t Au cut-off and maximum 2 meter internal waste. True widths to be established.

Luna's VP Exploration, Titus Haggan, states, "Drilling rates have accelerated significantly with the mobilization of two additional rigs and we are currently on schedule to finalize drilling ahead of an updated resource estimate at Aurizona in the fourth quarter of 2011. Near mine exploration targets are also being brought to the drill stage and will be included in the 2011 resource update."

About Luna Gold Corp Luna Gold is a producing gold company, with development and exploration projects. Gold production is from the Aurizona Mine in Maranhão state Brazil, development is the Cachoeira deposit Para, Brazil and the Company is exploring in a large strategically placed land position in Maranhão, Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.

John Blake- President and CEO