VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2012) - Luna Gold Corp. (TSX VENTURE:LGC)(LMA:LGC) ("Luna" or the "Company") is pleased to announce its gold production update for the Aurizona Gold Mine for the quarter ending December 2011 and for the full year 2011.
Aurizona Gold mine produced a quarterly record in Q4 of 13,620 ounces, completing the year 2011 with a gold production of 41,898 ounces in Luna's first full year of production.
Luna's President & CEO, John Blake, comments, "Luna Gold is pleased with gold production. The company continues to demonstrate consistent productive capacity at Aurizona with Q3 and Q4 achieving Feasibility Study levels of gold production."
|Table of Production for 2011
|Processed ore - tonnes
|Average grade processed - g/t
|Average recovery rate %
|Gold produced (ounces)
- Note - These production statistics are unaudited and may be subject to change.
Luna Gold will provide a more detailed analysis in the fourth quarter Management Discussion and Analysis which will be released prior to March 31, 2012. The Company's target production for 2012 is 60,000 ounces of gold from our Aurizona Gold Mine. This production will be achieved with sustainable levels of mined and processed ore tonnes and improvements in Gold recoveries.
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
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.
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 proeduction. 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 the 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.