Luna Gold Corp Intercepts 30.00 M Of 3.52 g/t Au And 40.00 M Of 2.01 g/t Au At Aurizona Demonstrating Vertical Cont by 24hgold

Wednesday, August 06, 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.

Table 1. Mineralized intercepts from the Piaba deposit. Width in the table represents core width of the intersections, True width, where available, is also shown. An updated Piaba plan map showing the location of these drill holes has been uploaded to the Luna website.

Luna's Exploration Manager, Titus Haggan states, "The most significant aspect of these new results is that they continue to demonstrate strong vertical continuity to the Piaba deposit and more importantly that gold grades are increasing with depth in several areas. The mineralized intervals in drill holes BRAZD-261, 262 and 263 all show an increase in average gold grade compared to holes drilled up-section. The Luna drill program continues to hit significant intervals of gold mineralization demonstrating the existence of a large orogenic gold deposit at Piaba which has a strike length of over 2.3 km."

The drill holes were sited to test the vertical continuity of the fresh rock mineralization within a 760 m strike length at Piaba. All holes successfully extended gold mineralization. Drill holes BRAZD-261 and 263 intersected 16.00 m @ 1.59 g/t Au and 7.00 m @ 3.67 g/t Au respectively, extending gold mineralization to a depth of -100 m RL (RL is "reference level"; at Aurizona the RL is sea level) in this area. Drill holes BRAZD-262 intersected 30.00 m @ 3.52 g/t including a high-grade interval of 2.00 m @ 28.29 g/t Au extending mineralization to a depth of -130 m RL. BRAZD-264 was drilled parallel to the deposit dip on section 200E to provide additional grade control information and to extend mineralization and intersected 60.00 m @ 1.39 g/t and 16.00 m @ 1.17 g/t Au. BRAZD-265 was drilled 60 m vertically beneath BRAZD-204 (59.00 m @ 1.48 g/t Au) to determine continuity of the mineralization. This hole intersected 12.00 m @ 3.25 g/t Au and 40.00 m @ 2.01 g/t including a high-grade intercept of 7.00 m @ 7.06 g/t Au extending mineralization to the -180 m RL level in this area.

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

Luna operates a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and sawn in half. One half of the HTW (71 mm diameter) core is maintained for future reference and one half of the core is sent for analysis. Samples are collected in approximately 1 meter intervals or less when a mineralized zone is encountered. All core and samples are stored in secure locked areas. Samples are transported from the Aurizona project to the ALS Chemex sample preparation facility in Belo Horizonte, Minas Gerais accompanied by Luna personnel. Samples are assayed at ALS Chemex Labs in Belo Horizonte using a 50 and 30 gram fire assay with AAS finish. Each sample batch contains approximately 10% of randomly inserted internal control samples consisting of certified analytical standards, blanks (barren rock) and 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 Brazil Exploration Manager is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has reviewed the technical disclosure in this press release.

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
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Luna Gold Corp.'s periodic filings with Canadian Securities Regulators. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future. 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.

Légende
	Production
	Mine développement
	Découverte
	Exploration
	Ancien producteur
Sur Google Earth, cliquez sur les pictogrammes, pour voir les informations du projet, accéder à sa page, ou à la page de la compagnie.