Luna Gold Corp. (TSXV-LGC/BVL-LGC) (Luna Gold or the Company) is pleased to announce additional positive assay results from 22 new holes from the recently completed resource drill program at the Piaba gold deposit, Aurizona. An updated drill plan map and 3D Corebox model showing the drill hole locations in the deposit have been uploaded to the Luna Gold website at www.lunagold.com or to view directly click below.
68.00 meters @ 2.46 g/t Au including 11.00 meters @ 6.02 g/t Au and 3.00 meters @ 5.04 g/t Au in BRAZD368 (Section 1100E -- New East Extension)
50.00 meters @ 3.87 g/t Au including 7.00 meters @ 8.47 g/t Au and 1.00 meter @ 53.30 g/t Au in BRAZD360 (Section 0600W -- Deposit Centre)
13.00 meters @ 33.63 g/t Au including 4.00 meters @ 104.83 g/t Au in BRAZD367 (Section 1600W -- New West Extension)
Updated Drill Plan Map
Luna Gold's President & CEO, John Blake, comments, The 40,000 meter drill program is now complete and we are on track to finalize the NI 43-101 resource update in early December 2011. These recent results are excellent in both grade and width which are significantly above the 1.36 g/t Au average grade of the current NI 43-101 reserve. In addition most of the holes reported here are new discoveries along eastern and western strike extensions to the Piaba deposit that lie outside the boundary of the 2009 resource update. We are strongly positioned to increase the Company's gold resources through upgrading inferred resources to the measured and indicated categories and by the addition of new ounces at depth and along strike.
Of the current 40,000 meter drill program, which commenced in August 2010, assays from 94 diamond drill holes totaling 24,577 meters have been received and samples from 40 additional holes are currently at the assay lab and assays will be delivered within 15 days. Today's assay results are for 22 drill holes totaling 5,088 meters drilled on 12 sections covering a strike extent of 3.1 kilometers of the Piaba deposit. In two holes, core was not recovered from surface. Significant mineralized intercepts from holes drilled across the deposit are tabulated below.
Table 1. Mineralized drill intercepts from the ongoing Aurizona resource drill program. Intervals are calculated as composites using a 0.30 gram/tonne Au cut-off and maximum 2 meter internal waste. True widths to be established. Intervals lower than 1.00 g/t Au are not shown.
Luna Gold's VP Exploration, Titus Haggan, states, These latest results are of major significance because they extend the Piaba deposit strike by 600 meters east of the 2009 resource boundary limit (Section 600E) including an interval of 68.00 meters @ 2.46 g/t Au including 11.00 meters @ 6.02 in BRAZD368 (Section 1100E) and 31.00 meters @ 2.65 g/t Au in BRAZD369 (Section 0900E). Similarly new mineralized intervals have been intersected beyond the 2009 western limit of the deposit including 10.00 meters @ 3.51 g/t Au in BRAZD379 (Section 1900W). See updated plan map for location of these new gold intercepts. SRK Denver has been retained to prepare the updated resource and reserve upgrades in conjunction with Luna Gold staff.
About Luna Gold Corp.
Luna Gold is actively engaged in the operation, exploration, acquisition and development of gold opportunities in Brazil. The company currently has a gold mining operation, Aurizona Gold Mine in Maranhão, Brazil, a gold development project, the Cachoeira project in Para, Brazil and the Company is exploring in a large strategically placed greenfields land position in Maranhão, Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
John Blake -- President and CEO
For further information contact Investor Relations at (604) 558 0560