VANCOUVER, Feb. 28 /CNW/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the
"Company") is pleased to announce new assay results from the Company's drill
program at Piaba and the first drill results from Tatajuba, the satellite
deposit located 1.8 km west of Piaba. Complete assay results have been
received for a further five holes (752 metres), four of which were drilled at
Tatajuba and one from Piaba. All the drill holes intersected wide zones of
gold mineralization. Significant mineralized intercepts are tabulated below.
- 40.00 metres @ 2.32 g/t Au (including 0.85 metres @ 51.10 g/t
Au) and 9.00 meters @ 4.11 g/t Au in hole BRAZD-239
- 33.50 meters @ 1.05 g/t Au in hole BRAZD-236
- 24.00 meters @ 2.51 g/t Au in hole BRAZD-237
- 31.00 meters @ 1.49 g/t Au in hole BRAZD-238
- 20.00 meters @ 1.30 g/t Au in hole BRAZD-240
Luna's CEO, Tim Searcy, comments, "These are very positive results. Hole
BRAZD-239 is now the deepest hole ever drilled on the project and it confirms
the presence of a wide mineralized zone, greater than 20 m true width, that
contains some very high grade gold intercepts. Even as the Company rapidly
approaches the completion of its feasibility study on Aurizona, it continues
to expand the resource potential of the project, at depth on Piaba and along
strike and at depth on Tatajuba."
DEPTH FROM TO INT WIDTH AU
HOLE ID AZI DIP (m) (m) (m) (m) (m) (g/t)
BRAZD-236 178 50 130.30 50.00 83.50 33.50 24.0 1.05
BRAZD-237 178 50 140.20 51.00 75.00 24.00 24.0 2.51
BRAZD-238 358 60 130.50 11.00 42.00 31.00 6.5 1.49
75.00 81.00 6.00 na 1.15
BRAZD-240 178 50 74.60 0.00 12.00 12.00 12.0 1.14
21.00 41.00 20.00 20.0 1.30
BRAZD-239 168 65 276.20 88.10 115.80 27.70 13.6 2.11
124.20 129.00 4.80 2.4 1.37
137.00 146.00 9.00 4.7 4.11
165.00 205.00 40.00 22.0 2.32
including 182.00 182.85 0.85 0.5 51.10
214.00 218.00 4.00 2.2 1.50
Table 1. Mineralized intercepts from initial drill holes, Piaba and
Tatajuba deposits. Width in the table represents core width of
the intersections, and does not represent the true width.
(To view the plan map showing the drill hole locations please
click on: (http://www.lunagold.com/i/pdf/Original.pdf/) 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:
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-236 to 238 and BRAZD-240 were drilled
in the western portion of the Tatajuba deposit to extend both the oxide and
fresh rock gold mineralization intersected by previous operators. BRAZD-236
intersected 33.50 m @ 1.05 g/t Au in oxide from 50.00 m core depth. BRAZD-237
and 240 were drilled as step-back and step-up holes respectively from historic
drill hole BRAZD-164 (17.00 m @ 2.21 g/t Au) on section 2350W. BRAZD-237
returned 24.00 m @ 2.51 g/t Au, which is the highest value for a fresh rock,
gold intercept at Tatajuba. BRAZD-240 intersected two zones of near surface
oxide mineralization of 12.00 m @ 1.14 g/t Au from surface and 20.00 m @ 1.30
g/t Au from 21.00 m core depth. BRAZD-238 also intersected a wide zone of near
surface oxide mineralization of 31.00 m @ 1.49 g/t Au from 11.00 m core depth.
New geological interpretation has identified that gold mineralization at
Tatajuba is hosted within intermediate to mafic volcanic sequence associated
with strong hydrothermal alteration. The rocks of the Aurizona Group have been
dated as early Proterozoic.
BRAZD-239 is a step-back hole from BRAZD-212, which intercepted 46.80 m
of 8.94 g/t Au (see the press release dated November 21st). BRAZD 239
intersected several wide zones of gold mineralization including 27.70 m @ 2.11
g/t Au, 9.00 m @ 4.11 g/t Au and significantly 40.00 m @ 2.32 g/t Au. The
latter result extends mineralization by 36 vertical meters and demonstrates
that the deposit remains open at depth. This hole enables a true thickness
calculation of 25.8 m for the mineralized body intersected in BRAZD-212 within
a wider mineralized envelope of 50 m.
Luna's Exploration Manager, Dr. Titus Haggan states, "The first drill
results from Tatajuba are very encouraging. All holes intersected
mineralization, and samples from a further 10 holes are currently at the
laboratory. Historic drilling at Tatajuba was limited to 30 holes the majority
of which intersected gold mineralization. This data coupled with the latest
results indicate that like Piaba, Tatajuba is open along strike and at depth.
The current drilling program is being conducted to provide additional data for
a new resource and reserve estimate for Tatajuba."
Dr Haggan continues, "The gold results from BRAZD-239 are significant in
that they confirm that mineralization extends at depth and remains open. No
drill holes have yet defined the base of mineralization at Piaba. Following
the latest results, Luna's drilling is now concentrated on testing the deeper
portions of the deposit to assess the depth extent and resource potential of
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
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
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 No.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
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.
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
For further information:
For further information: Investor Relations at (604) 689-7317 or toll
free at 1-866-689-7317