Luna Gold Corp

Published : August 10th, 2011

Defines Priority Gold Target at Maranhao Greenfields and Further Extends Landholding by 20,000 Hecta

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Bismuth |

News Release Wednesday, August 10, 2011

Luna Gold Defines Priority Gold Target at Maranhao Greenfields and Further Extends Landholding by 20,000 Hectares


Vancouver, August 10, 2011 - Luna Gold Corp. (TSXV-LGC) (BVL-LGC) ("Luna Gold" or the "Company") announces positive surface exploration results from the Areal target located within Luna Gold's 100% owned prospective Maranh�o Greenfields project area. Areal is located 20 km due southwest from the Aurizona mine and is one of several greenfields gold targets being advanced by Luna Gold. Data from geochemical and geophysical surveys combined with geological mapping indicate that a large shear hosted gold mineralizing system exists at Areal. Project maps have been uploaded to the Luna Gold website at www.lunagold.com or to view directly click below. Areal is a priority drill target for 2012 and can be summarized as:

  • Major gold in soil anomaly measuring 1.70 km X 0.45 km at a 50 ppb Au cut-off with maximum values of 8.97 g/t Au associated with garimpeiro workings, mineralized quartz vein sets and sulfidized felsic intrusives
  • Gold anomaly is associated with elevated Bi and Mo values and is hosted within a major NW trending shear corridor with well defined footwall mafic volcanics - prospective structural corridor
  • Reconaissance rock grab and channel sampling program returned gold values up to 1.60 g/t Au
  • Follow-up programs to commence in Q3 to advance Areal to drill stage in 2012

Areal Location Map
Areal Geology Map
Areal Geophysical (RTP) Map

Luna Gold's President and CEO, John Blake, comments, "We are very pleased with the exploration results from Areal which is one of several gold targets being generated by Luna Gold. Our exploration team is focused on the discovery of multimillion ounce gold deposits hosted within regional shear corridors at Maranh�o Greenfields which holds significant potential in becoming a new Brazilian gold district. The addition of a further 20,000 ha to the Maranh�o Greenfields project adds to our dominant landholding now totaling 190,000 ha in this emerging gold district and further strengthens Luna Gold's growth profile".

Areal was an active garimpo (artisanal mine) in the 1980's where miners worked northwest trending quartz veins hosted within sulfidized tonalities, syenogranites and granites. Luna Gold conducted a geochemical survey followed by a ground magnetic survey and geologic mapping program which has identified a 1.7 km long gold in soil anomaly within a northwest trending shear zone. Gold mineralization is associated with outcropping quartz veins and hydrothermal alteration and is coincident with a pronounced magnetic low that is associated with altered felsic intrusives within the shear corridor. The geophysical anomalies correlate very well with the geologic mapping and importantly have identified a mafic volcanic footwall sequence providing a strong structural control to the mineralization. Gold shows certain correlation with molybdenum, bismuth and lead consistent with a shear hosted intrusive mineralizing system. The scale of the anomaly and geological and geophysical associations are consistent with Luna Gold's Greenfields target criteria. Luna Gold's geologists collected 303 reconnaissance rock chip and channel samples from across the Areal target with a maximum gold value of 1.60 g/t Au.

Luna Gold's VP Exploration, Titus Haggan, states, "Luna Gold's objective at Maranh�o Greenfields in 2011 is to discover district scale gold mineralizing systems and advance the best targets to drill stage for the 2012 exploration season. The exploration results at Areal are very encouraging and indicate a major surface gold anomaly associated with elevated Bi, Mo and Pb values hosted within a series of sheared and altered felsic intrusives. Geologic mapping has groundtruthed the soil anomalies and points to a clear association of gold with quartz veining and sulfidation of the intrusives. Ground magnetic surveys have confirmed the target structure and geology which is hosted within a major NW-trending shear zone. A project grid has been established at Areal and an auger program will commence in Q3 followed by a trenching program ahead of drilling in 2012. This is the first target to be reported from Maranh�o Greenfields and several more are in the pipeline. Following the receipt of these excellent results we have extended the soil grid targeting extensions to Areal and will report results from this and other ongoing programs at Maranh�o Greenfields project in due course."

About Luna Gold Corp.

Luna Gold is a producing gold company with development and exploration projects. Gold production is from the Aurizona Mine in Maranh�o, Brazil, and development is focused on the Cachoeira deposit in Para, Brazil. The Company is exploring a large strategically placed greenfields land position in Maranh�o, Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.

John Blake - 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Regulatory Footnotes


Luna operates a rigorous QA/QC protocol on all aspects of geochemical sampling and analytical procedure. Soil sampling programs are supervised by mining technicians and samples are collected on regular grids surveyed using total stations. Soil samples are collected at a nominal 0.50 meter depth or deeper corresponding to the B soil horizon. Several types of ancillary data are recorded including soil type, granulometry, magnetism, and the presence of laterite. Channel and rock sampling is supervised by geologists and mining technicians and recorded on special log sheets. All areas intended for sampling are assessed and marked-up for sampling by geologists. For surface channel sampling all sample faces are cleaned to a depth of 15 centimeters and marked for sampling which is conducted at nominal 1 meter intervals using appropriate sampling tools which are cleaned between each sample. Sample intervals are surveyed using a Total Station. All samples are stored in secure locked areas under Company supervision. Samples are transported from the Aurizona project to the ALS Chemex sample preparation facility in Belo Horizonte, Minas Gerais accompanied by Luna personnel. Soil and rock channel samples are assayed for gold via fire assay (30 and 50 grams) at ALS Chemex, Lima, Peru. Luna operates a rigorous QA/QC program for soil and rock samples which involves the insertion of blanks, CRM and sample duplicates. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.

Titus Haggan Ph.D., EurGeol Certified Professional Geologist #746, Luna's Vice President Exploration is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has supervised the preparation of and reviewed the technical disclosure in this press release. Non- qualified persons currently work on Luna's exploration programs under the guidance of Titus Haggan. Dr. Haggan takes responsibility for work, information and advice generated by non-Qualified persons and has taken the steps required to ensure that the work, information and advice is sound.

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.

Forward-Looking Statements

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to the exploration program for the Company's Aurizona, Areal and Maranh�o Greenfields projects and any planned resource upgrades. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by Luna Gold Corp. are forward-looking and subject to various risks and uncertainties, both known and unknown, many of which are beyond the ability of Luna Gold Corp. to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Forward-looking information is subject to known and unknown risks and uncertainties that may cause Luna Gold Corp.'s actual results, performance or achievements may be materially different from those expressed or implied by such forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, mine development and production costs, the projected life of the Company's mines, future production levels, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

You can also view this News Release on our website at:
http://www.lunagold.com/s/NewsReleases.asp?ReportID=470785
 
 

Home | Corporate | News | Projects | Investors | Contact | Disclaimer | |
This email was sent to .com
Data and Statistics for these countries : Brazil | Peru | All
Gold and Silver Prices for these countries : Brazil | Peru | All

Luna Gold Corp

DEVELOPMENT STAGE
CODE : LGC.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Luna Gold is a gold exploration company based in Canada.

Luna Gold holds various exploration projects in Brazil.

Its main asset in development is AURIZONA in Brazil and its main exploration properties are AURIZONA and CACHOEIRA in Brazil.

Luna Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 262.6 millions as of today (US$ 193.1 millions, € 173.6 millions).

Its stock quote reached its highest recent level on March 23, 2012 at CA$ 3.30, and its lowest recent point on May 20, 2022 at CA$ 0.03.

Luna Gold has 104 640 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Luna Gold Corp
9/30/2011Announces Closing of Private Placement
7/26/2011Announces The Closing of a US $30 Million Senior Secured Cre...
7/21/2011Enters Into Debt Amendment Agreement With Eldorado and Brasc...
10/30/2009Accelerates Expiry Date of Outstanding Share Purchase Warran...
2/26/2009Closes $31 Million Private Placement
11/18/2008Closes Private Placement Of C$2.46 Million
3/13/2008Closes Private Placement Of C$4 Million
3/7/2008Announces CAD 4.0 Million Private Placement
Nominations of Luna Gold Corp
3/1/2012Announces Appointment of New Director
7/9/2009Appoints New Director & Engages Up Communications
Financials of Luna Gold Corp
11/13/2012. Announces Results for the Third Quarter of 2012
5/18/2011Reports Operational and Financial Results for the Three Mont...
3/29/2011Reports Operational And Financial Results For The Three Mont...
Project news of Luna Gold Corp
1/9/2013Announces Record Production of Over 74,000 Ounces in 2012
12/8/2011(Aurizona)Announces Major Resource Update at Aurizona
8/10/2011Defines Priority Gold Target at Maranhao Greenfields and Fur...
7/25/2011(Aurizona)Drills 19.00 Meters @ 4.67 g/t Au and 53.00 Meters @ 2.09 g/...
7/5/2011Q2 Production Update
6/6/2011(Aurizona)Drills 48.00 Meters @ 3.29 g/t Au Including 12.00 Meters @ 7...
2/16/2011Intersects 81.50 Meters @ 1.18 G/T Au Including 2.04 Meters ...
2/10/2011(Cachoeira)Files NI 43-101 Technical Report For Initial Resource Estima...
2/9/2011(Aurizona)Announces Commercial Production at Aurizona
5/21/2010(Aurizona)Announces Full Process Commissioning And Commencement Of Gol...
1/13/2010(Aurizona)Provides a Development Update on its Aurizona Gold Project
9/25/2008(Aurizona)Intercepts 15.00m of 4.45 g/t Au and 31.00m of 2.27 g/t Au a...
8/6/2008(Aurizona)Intercepts 30.00 M Of 3.52 g/t Au And 40.00 M Of 2.01 g/t Au...
7/7/2008(Aurizona)Announces Results Of The Feasibility Study For Its Aurizona ...
6/24/2008(Aurizona)Intercepts 57.00 M Of 1.25 g/t Au At Aurizona, Extending Gol...
4/23/2008(Aurizona)Intercepts 73.00 M Of 1.47 G/T Au At Aurizona And Continues...
2/21/2008(Aurizona)Secures Grinding Mills For The Aurizona Gold Project
1/28/2008(Aurizona)Intercepts 33.00 m of 2.46g/t Au from Surface and 5.00 m of ...
1/26/2008(Red Rock)Update On Its Red Rock Project, Cortez Trend, Nevada
1/10/2008(Aurizona)Intercepts 63.80 m of 2.54 g/t Au and 6.50 m of 15.82 g/t Au...
Corporate news of Luna Gold Corp
3/11/2013Announces Completion of Secured Credit Facility
2/19/2013Announces Corporate Secured Credit Facility
1/24/2013(Aurizona)Receives Construction Authorization for Aurizona Phase I Exp...
10/5/2012Graduates to the BVL
9/25/2012(Cachoeira)Brazil Resources Inc. Completes Acquisition of the Cachoeira...
9/25/2012(Cachoeira)Announces Completion of the Sale of Cachoeira
9/20/2012Conditionally Approved to Graduate to the TSX
9/10/2012(Aurizona)Sandstorm Gold Ltd. To Contribute Towards Expanding Producti...
3/2/2012Reports Operational and Financial Results for the Three Mont...
2/24/2012Announces Effective Date Of Share Consolidation
2/14/2012Announces Shareholder Approval of Share Consolidation
1/19/2012(Aurizona)Aurizona Gold Mine Announces Record Gold Production In Q4 An...
12/22/2011Announces Proposed Share Consolidation
11/29/2011(Aurizona)Drills 23.00 Metres @ 4.04 g/t Au Including 6.00 Metres @ 12...
10/13/2011Announces Exercise of Over-Allotment Option
10/7/2011(Aurizona)Aurizona Gold Mine Third Quarter Production Update
9/22/2011Announces Terms of Equity Financings
9/6/2011(Aurizona)Aurizona Gold Mine August Production Update
9/3/2011Announces Equity Financings
8/8/2011Reports Operational and Financial Results for the Three And ...
8/3/2011Announces the Addition of Augusto Baertl as Advisor to Manag...
6/28/2011(Aurizona)Drills 44.00 Meters @ 4.94 g/t Au Including 5.00 Meters @ 30...
5/5/2011Increases Operational and Exploration Strength of Management
4/13/2011Applies for a Secondary Listing on the Lima Stock Exchange a...
3/15/2011(Aurizona)Drills 19.00 m @ 1.45 g/t Au and 2.00 m @ 130.45 g/t Au at A...
6/9/2010Increases Financing To $33,130,000
1/18/2010Completion Of A US$15 Million Project Debt Facility
2/5/2010Named as Part of 2010 TSX Venture 50
10/15/2009Acceptance Of An Offer Of Finance For A US$15 Million Projec...
10/21/2009Launches New Website
10/19/2009Announces Release of Funds and Shares from Escrow
9/30/2009Provides Development Update
7/30/2009Hires Chief Financial Officer
7/27/2009Names Dr. J. David Lowell And Geoff Loudon As Advisors To Th...
7/15/2009Provides Development Update
5/15/2009Enters Into US$17.8 Million Gold Sales Agreement Contract
1/6/2009Renegotiates Aurizon Goldfields Share Purchase Agreement
12/12/2008Renegotiates Earn-In Terms For The Cachoeira Project
12/8/2008Intercepts 21.45 M Of 5.87 G/T Au Including 7.95 M Of 14.96 ...
9/8/2008Intercepts 20.00 M Of 9.04 G/T Au Including 6.00 M Of 27.72 ...
6/26/2008Intercepts 6.00 M Of 12.58 G/T At The CachoeiraGold Project=...
5/21/2008Nominates Dr. Thomas O'Neil For The Board Of Directors
5/15/2008Nominates Mr. Nolan Watson for Board of Directors
3/4/2008 Awards 6,000 Meter Drill Contract and Provides Exploration ...
2/25/2008Awarded Major Landholding In The Aurizona Gold Belt, Brazil
1/16/2008Hires Chief Financial Officer
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (LGC.V)Other OTC (LGCU)
2.51+0.80%3.38+6.29%
TSX-V
CA$ 2.51
09/18 16:27 0.020
0.8%
Prev close Open
2.49 2.51
Low High
2.40 2.68
Year l/h YTD var.
0.820 -  2.79 167.02%
52 week l/h 52 week var.
0.820 -  2.79 67.33%
Volume 1 month var.
110,901 -%
24hGold TrendPower© : 34
Produces
Develops Gold
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/17/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2024161.46%2.890.75
2023209.68%1.790.21
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.08+0.35%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.91-2.73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+2.70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.