Luna Gold Announces Record Production of Over 79,200 Ounces in 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) - 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 2013 (the "fourth quarter") and the full year 2013 ("FY 2013").
The Aurizona Gold Mine produced 22,177 ounces of gold during the fourth quarter. This quarterly record brings Luna's gold production for FY 2013 to a total of 79,229 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, exceeding 2012 annual production by approximately 7%. This strong performance can be attributed to higher gold head grade and improved recovery rates, which were slightly offset by a lower mill throughput."
2013 Production Data
| Q4 20131 | FY 2013 | |
| Processed ore (tonnes) | 562,501 | 1,934,176 |
| Average grade processed (g/t) | 1.38 | 1.43 |
| Average recovery rate | 89% | 90.4% |
| Gold produced (ounces)2 | 22,177 | 79,229 |
| 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. | ||
Luna Gold will provide a more detailed analysis in its Management's Discussion and Analysis and audited financial results for FY 2013, which will be released no later than March 29, 2014. Specific release dates for Management's Discussion and Analysis and audited financial results for 2013, and a conference call reviewing the Company's fourth quarter 2013 performance will be announced later this quarter.
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
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.