Luna Gold Announces Record Quarter Gold Production Over 17,000 Ounces in Second Quarter 2012
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/11/12 -- Luna Gold Corp. (TSX VENTURE: LGC)(OTCQX: LGCUF)(LMA: LGC) ("Luna" or the "Company") is pleased to announce its gold production update at the Aurizona Gold Mine for the quarter ended June 30, 2012.
Aurizona Gold Mine produced a quarterly record in Q2 of approximately 17,269 ounces.
Luna's President and CEO, John Blake, comments, "Luna Gold continued to deliver on its planned quarterly production and we remain on target to produce 60,000 ounces of gold in 2012 from the Aurizona Gold Mine."
Operational improvements continue to progress including successful transition to owner operated truck haulage with twelve (12) CAT 740 articulated dump trucks. Three (3) new 374 CAT excavators have been off-loaded at the port in Sao Luis and are expected to be commissioned early Q3 2012. Orders for a new carbon reactivation kiln, intense leach reactor and electro-winning cells have been placed with deliveries expected in Q3 2012. These equipment components are minor modifications to the existing plant footprint. Engineering is approximately 40% complete and construction expected to begin upon permit approval.
Table of Production for Q1 and Q2 2012
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Q1 Results Q2 Results(i) 2012 Year to Date
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Processed ore - tonnes 439,820 544,524 984,344
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Average grade processed - g/t 1.25 1.18 1.21
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Average recovery rate % 84 85 85
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Gold produced (ounces) 16,063 17,269 33,331
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(i) Note - These production statistics are unaudited and may be subject to change.
Luna Gold will provide a more detailed analysis in the second quarter Management Discussion and Analysis which will be released prior August 15, 2012.
About Luna Gold Corp.
Luna is a gold production and exploration company engaged in the operation, exploration and development of gold deposits and advanced stage gold exploration projects in Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
John Blake - President and CEO
Regulatory Footnotes
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the United States Securities Act of 1933 and applicable state securities laws or an exemption from such registration is available.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Luna Gold Corp.
Investor Relations
(604) 558-0560
(604) 558-0561 (FAX)
www.lunagold.com