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Luna Gold Corp. is a cash generating gold producer engaged in the operation and exploration of promising gold projects. Luna aims to maximize shareholder return while ensuring safe, healthy, and secure workplaces, minimizing environmental impact, and both engaging with and assisting in community development.
During 2013, Luna sustained positive cash generation and achieved record gold production of over 79,000 ounces while reducing cash costs and identified two major mineralized structures at the Touro Target. Luna’s primary asset is the Aurizona Gold Mine located in the north-east of Brazil.
A Preliminary Feasibility Study (PFS) is underway, targeted for release during second half 2014 and considers expanding average annual gold production to deliver between 200,000oz and 300,000oz upon completion.
In March 2013, Luna released an updated resource estimate for Aurizona of 3.63 million ounces (Moz) Measured & Indicated Resources and 1.04 Moz Inferred Resources, representing increases of 15% and 44% respectively from the December 2011 resource update. In April 2013, Luna announced an updated Piaba Deposit Proven & Probable Reserve of 2.36 million ounces, including 56 million tons (Mt) of ore with a mine life average of 1.32 grams per ton of gold (g/t Au), representing a 222% increase when compared to the July 2010 Reserve statement. Drilling programs conducted by Luna since 2007 have significantly extended the strike and depth extent to the original Piaba ore body and mineralization remains open along strike to the east and west and also at depth where interpreted high-grade plunging structures are being targeted.
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