Luna Gold Corp. increased its estimate of gold resources at the Aurizona gold mine in Brazil by 250 percent.
The Vancouver-based company said Thursday its measured and indicated gold resources now total 3.17 million ounces of gold compared with an earlier estimate issued in January 2009.
Inferred resources rose 79 percent to 15.2 million tonnes from the January 2009 estimate.
Luna said work has now commenced on the identification of potential deep structural drill targets beneath the limit of the updated Piaba resource. Drilling has also started at the Boa Esperança target.