VANCOUVER, March 1 /CNW/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to provide a further summary of progress on its wholly owned Aurizona gold project in Maranhão State, Brazil. Photographs of construction activity are taken at regular intervals and may be viewed on the Company's website at http://www.lunagold.com/s/Building_Aurizona.asp.
Luna's CEO, Jim Bahan, comments, "Further to our announcement of January 12, I am pleased to confirm that commissioning of the process plant gravity circuit has started. The stand-by diesel generators and two of the three ball mills are being used in this phase of plant start up. The plan is to produce gold from gravity only until the carbon-in-leach plant (CIL) plant comes on line, which is expected in the second quarter of 2010. The gravity tailings generated in the coming months, and those from previous garimpeiro workings, will then be directly treated in the CIL, as supplementary feed to run-of-mine (ROM) ore."
Further progress highlights:
- Tailings dam civil construction is completed and finishing works are
- Construction of the CIL plant, apart from the feed thickener,
continues with completion expected in the second quarter of this
year. The feed thickener is completed and will be utilized in
commissioning the gravity circuit.
- Mining has commenced in the Piaba pit and currently there are in
excess of 100,000 tonnes of ore on stockpile for feeding the plant in
the event of pit stoppages.
- Construction of the 69Kv power line is in progress with planned
completion in the second quarter of this year.
About Luna Gold Corp.
Luna is a mineral exploration and development company engaged in the acquisition, exploration, and development of gold resources and advanced stage gold exploration projects in Brazil. The Company is currently developing its Aurizona gold project in Maranhão, Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
Jim Bahan - CEO
Neither the 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.
All statements other than statements of historical fact included in this news release are forward-looking information that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and expectations of the Company in relation to its Arizona gold project. These statements are identified through the words "plan" and "expected" (or derivations thereof) in this news release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include: delays in construction of the CIL plant and other mine construction delays; availability of capital and financing; general economic, market or business conditions; regulatory changes; timeliness of government or regulatory approvals and other risks detailed from time to time in the filings made by the Company with Canadian securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements or information whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
SOURCE LUNA GOLD CORP.
For further information: For further information: Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317