VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2013) -
Luna Gold Corp. (TSX:LGC)(OTCQX:LGCUF)(LMA:LGC) ("Luna" or the "Company") is pleased to announce its gold production at the Aurizona Gold Mine for both the three month period ended December 31, 2012 (the "fourth quarter") and the full year 2012 ("FY 2012").
The Aurizona Gold Mine produced 21,547 ounces of gold during the fourth quarter. This quarterly record brings Luna's gold production for 2012 to a total of 74,269 ounces, above the Company's guidance of between 68,000 and 70,000 ounces.
John Blake, Luna's President and CEO, stated, "We are encouraged by both another record gold production quarter and a record full year of production. This strong performance can be attributed to increased mill throughput capacity, consistent gold head grade, and improved recovery rates. This level of performance will continue during the first half of 2013, when we anticipate installing a new carbon reactivation kiln, intense leach reactor, and electro-winning cells. The average mining and production rates for the first quarter of 2013 may intermittently reduce as we enter the wet season in Brazil. As a result, we are issuing market guidance of 21,000 ounces for gold production in the first quarter of 2013. And with continuous improvement at the Aurizona Gold mine, we are confident in our full year 2013 gold production reaching 100,000 ounces, a result that will establish a platform for further improvement in 2014."
2012 Production Data
|
Q1 2012
|
Q2 2012
|
Q3 2012
|
Q4 2012*
|
FY 2012
|
|
Processed ore (tonnes)
|
439,820
|
544,524
|
639,571
|
531,289
|
2,155,204
|
|
Average grade processed (g/t)
|
1.25
|
1.18
|
1.10
|
1.33
|
1.21
|
|
Average recovery rate (%)
|
84
|
85
|
88
|
92
|
87
|
|
Gold produced (ounces)
|
16,063
|
17,269
|
19,391
|
21,547
|
74,269
|
| * Note - These production statistics are unaudited and may be subject to change. |
|
Luna Gold will provide a more detailed analysis in its Management's Discussion and Analysis and audited financial results for 2012, which will be released no later than March 29, 2013.
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.
John Blake - President and CEO
Website: www.lunagold.com
Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to future gold production and/or the results of analysis on gold production. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. 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. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. 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. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Contact Information:
Luna Gold Corp.
Investor Relations
(604) 568-7993
www.lunagold.com