Luna Gold Announces First Quarter Gold Production of 19,414 VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 14, 2014) - Luna Gold Corp. (LGC.TO)(LGC.TO)(LGCUF), ("Luna" or the "Company") is pleased to announce its gold production at the Aurizona Gold Mine for the three month period ended March 31st, 2014 (the "First Quarter 2014").
The Aurizona Gold Mine produced 19,414 ounces of gold during the First Quarter 2014 at an average grade processed of 1.40 grams per tonne.
Geoff Chater, Luna's President and CEO, stated, "We are delighted with this start to 2014 which is a compliment to our operations team. We were able to overcome an unscheduled week-long shutdown in January as well as challenging mining conditions due to the onset of the wet season in Brazil (January-June). First Quarter 2014 gold production benefited from higher than budgeted saprolite ore grade processed, which was offset by lower ore mining rates due to the impact of seasonal rainfall."
Production Data
|
First
Quarter
20141 |
Fourth
Quarter
2013 |
Third
Quarter
2013 |
Second
Quarter
2013 |
First
Quarter
2013 |
| Processed ore (tonnes) |
486,839 |
562,501 |
540,194 |
383,492 |
447,990 |
| Average grade processed (g/t) |
1.40 |
1.38 |
1.32 |
1.69 |
1.40 |
| Average recovery rate |
89% |
89% |
90% |
92% |
90% |
| Gold produced (ounces)2 |
19,414 |
22,177 |
20,997 |
18,853 |
17,203 |
| Gold sales (ounces)3 |
23,002 |
16,755 |
19,812 |
22,819 |
13,017 |
| 1Production statistics are unaudited and may be subject to change. |
| 2Gold produced represents physical gold output from the processing plant. The variance between gold produced and the theoretical gold recovered is represented as changes in estimated gold work in progress inventory. |
| 3Includes gold deliveries to Sandstorm Gold Ltd. |
Luna Gold will provide a more detailed analysis in its Management's Discussion and Analysis and financial results for the First Quarter 2014, which will be released no later than May 15, 2014. Specific release dates for Management's Discussion and Analysis and financial results for the First Quarter 2014, and a conference call reviewing the Company's performance, will be announced in early May.
About Luna Gold Corp.
Luna is a gold production and exploration company engaged in the operation, discovery, and development of gold projects in Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
Geoff Chater - President and CEO
https://online.wsj.com/article/PR-CO-20140414-902831.html