VANCOUVER, Aug. 9 /CNW/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the
"Company") is pleased to announce it has awarded the drill contract for its
wholly-owned Aurizona Gold Project to Geosol of Belo Horizonte, Brazil.
Geosol, an ISO-901 accredited company, will begin the program in
mid-August and, using two rigs, will drill a minimum of 3,750 meters. The
primary purpose of the program is to upgrade the quality of the saprolite
resource estimate for feasibility purposes; however, this program will also
include exploration drill holes designed to test the continuity of the gold
mineralization into the bedrock at depth.
More than 290 holes have been drilled at Aurizona, by past operators
(Brascan, Gencor, and Eldorado) totaling over 25,000 meters. Luna's COO, Jim
Bahan, was the Managing Director of Gencor Brazil, when Gencor performed the
majority of the past work, which included significant metallurgical work.
The combination of the past work and continuity of management has allowed
Luna to fast track Aurizona's feasibility study, which is scheduled for
completion in Q1 2008. Further evidence of Luna's ability to fast track
development was provided on July 16th, when Luna announced it had been granted
the operating licence for Aurizona. This was a significant milestone because
it gives Luna greater control over the development timeline at Aurizona.
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.
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