Luna Gold intercepts 33.00 m of 14.54 g/t Au at the Aurizona gold project, Brazil
08:30 EDT Wednesday, March 19, 2008
VANCOUVER, March 19 /PRNewswire-FirstCall/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce new assay results from Tatajuba, the main satellite deposit at Aurizona. Complete assay results have been received for a further eleven holes (1,326 metres), ten of which are strongly mineralized. Significant mineralized intercepts are tabulated below.
- 17.00 meters @ 2.06 g/t Au in hole BRAZD-241
- 12.00 meters @ 4.06 g/t Au in hole BRAZD-242
- 48.00 meters at 1.15 g/t Au including 18.00 meters at 2.32 g/t Au in
hole BRAZD-247
- 33.00 meters at 14.54 g/t Au including 9.00 meters at 30.80 g/t Au
and 2.63 meters at 59.66 g/t Au in hole BRAZD-250
- 34.00 meters at 1.43 g/t Au in hole BRAZD-251
Luna's CEO, Tim Searcy, comments, "We are very pleased with the drilling results from Tatajuba. The consistency of the mineralization combined with intercepts of higher grade material confirms our view that the gold potential of the Aurizona region has been underestimated in the past. As we aggressively push the Piaba deposit towards development, we will continue exploring at Piaba, Tatajuba, and the other satellite deposits on the project, as well as the 47,000 ha of prospective ground that we have recently been awarded in the region."
TRUE
DEPTH FROM TO INT WIDTH AU
HOLE ID AZI DIP (m) (m) (m) (m) (m) (g/t)
-------------------------------------------------------------------------
BRAZD-241 358 50 81.05 31.00 48.00 17.00 6.0 2.06
BRAZD-242 358 50 80.25 27.00 39.00 12.00 6.0 4.06
including 36.00 37.00 1.00 0.5 27.80
BRAZD-243 178 50 90.45 14.00 26.00 12.00 n/a 1.05
30.00 45.00 15.00 n/a 1.09
BRAZD-244 178 50 145.20 78.00 98.00 20.00 12.0 1.31
BRAZD-245 178 50 135.20 84.00 89.55 5.55 3.8 2.27
BRAZD-246 178 50 120.25 59.00 70.00 11.00 11.0 1.33
BRAZD-247 178 50 80.55 2.00 50.00 48.00 48.0 1.15
including 13.00 31.00 18.00 18.0 2.32
BRAZD-248 178 50 130.50 65.00 91.40 26.40 17.5 1.15
including 87.00 91.00 4.00 2.6 4.86
BRAZD-249 358 60 151.05 no significant intercept
BRAZD-250 358 50 150.55 23.00 56.00 33.00 15.0 14.54
including 31.00 40.00 9.00 4.1 30.80
and 47.00 49.63 2.63 1.2 59.66
BRAZD-251 358 50 161.10 94.00 128.00 34.00 19.0 1.43
134.00 137.00 3.00 n/a 1.47
144.00 147.00 3.00 n/a 1.88
Drill Results from the Tatajuba deposit, at the Aurizona project.
Width in the table represents core width of the intersections, True width where available is also shown. To view assays for the full length of each hole please go to www.lunagold.com. To view location of Tatajuba relative to Piaba
please click on:
lunagold.com
TATAJUBA
Tatajuba is the principal satellite deposit within the Aurizona Main gold camp and is located 1.8 km west from the Piaba deposit along the same structural lineament. Drill holes BRAZD-241 to 251 were drilled on 50 m spaced sections in the central and eastern portions of the Tatajuba deposit to extend both the oxide and fresh rock gold mineralization.
Luna's Exploration Manager, Titus Haggan states, "The new drill results have exceeded our expectations for Tatajuba, which was previously considered to be a narrow discontinuous deposit. The Luna drilling has defined a continuous, sub-vertical to north-dipping, mineralized zone of over 550 m strike extent which remains open along strike and at depth. Gold grades are very consistent within the mineralized zone which attains very high grades in the eastern area, as demonstrated by BRAZD-250. All assay data have now been received for Tatajuba and work will now commence on a preliminary resource estimate."
From west to east BRAZD-241 intersected 17.00 m @ 2.06 g/t Au in oxide on Section 2150W. BRAZD-242 intersected 12.00 m @ 4.06 g/t Au from 27.00 m core depth. BRAZD-243 intersected two wide zones of near surface oxide mineralization. Drill holes BRAZD-244 and 245 intersected zones of fresh rock mineralization which significantly extend the previously known depth of mineralization at Tatajuba. BRAZD-246 and 247 were drilled as step-up and step-back holes from historic drill hole BRAZD-167 (16.15 m @ 1.73 g/t Au) on Section 1950W and both holes hit the main mineralized zone with BRAZD-246 intersecting 48.00 m at 1.15 g/t Au from 2.00 m core depth. BRAZD-248 intersected 26.40 m @ 1.15 g/t Au 50 m east on Section 1900W.
BRAZD-250 and 251 were drilled as step-up and step-back holes from historic drill hole BRAZD-114 (53.34 @ 2.82 g/t Au) on Section 1800W in the east margin. Step-up hole BRAZD-250 intersected a wide zone of bonanza-grade gold mineralization of 33.00 m @ 14.54 g/t Au in oxide from 23.00 m core depth including 9.00 m @ 30.80 g/t Au and 2.63 m @ 59.66 g/t Au. Step-back hole BRAZD-251 intersected 34.00 m @ 1.43 g/t Au in fresh rock from 94.00 m, intersected several narrow mineralized zones and ended in mineralization at 161.10 m. These results define a steeply, north-dipping, mineralized zone which widens at depth.
Drilling is ongoing at the Aurizona project and will continue for the foreseeable future. Currently, one rig is drilling fence holes into the deeper portions of the Piaba deposit. Upon completion of that program, a rig will be mobilized back to Tatajuba to continue the expansion drill program there.
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
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 Lima, Peru using a 30 gram fire assay with AAS finish. Each sample batch contains 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. 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. Luna Gold does not assume the obligation to update any forward-looking statement.
CONTACT: Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317
SOURCE Luna Gold Corp.
For further information: Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317
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