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Luna Gold Reports Further Positive Assay Results from Piaba Gold Deposit

Luna Gold has proclaimed the further encouraging assay results of 12 new holes from the current resource drilling at the Piaba gold deposit in Aurizona.

Drill Plan Map

The company has intersected 49.60 g/t and 14.75 g/t gold over 0.50 m including 3.43 g/t gold over 12.00 m in the hole BRAZD311, 14.32 g/t gold over 2.00 m and 14.08 g/t gold over 3.00 m, 4.67 g/t gold over 19.00 m in the hole BRAZD314 and 11.70 g/t gold over 0.50 m, 7.11 g/t gold over 2.50 m in the hole BRAZD319.

The CEO and President of Luna Gold, has commented that it began a 20,000 m drilling in August 2010, these results and analysis of the six prior results showed an extremely successful program. The exploration team will stay on the target for the completion of a revised NI 43-101 resource update during the fourth quarter. All the available results have confirmed the consistent mineralization continuity along the depth and strike and the deposit will be open at depth.

The objective of the program is to enhance the gold resources considerably by advancing the inferred resources to the indicated and measured categories and by the adding up of new gold ounces along the strike and at depth.

Luna Gold has received the assays from 14,346 m, totaling 51 holes and 14 additional hole samples are at the assay lab. Assay results for 12 drill holes, 3678 m in total, which are drilled on the 10 sections enclosing 1.5 km strike area of the Piaba deposit, has been released. The core was not taken from the surface of all the eight holes. All the drill holes have cut significant gold mineralization zones and the deposit stays open at depth.

The company drilled 1288 m, totaling three holes at the down-dip. These holes were drilled to find the gold grade distributed vertically, ore to the waste relationship in this section of the deposit, to offer structural information and to offer an improved awareness of the weathering report. The holes corroborate the spaced flat quartz vein’s deposit model, which are associated with the sub-vertical mineralized shear zones that jointly form the high-grade ladder quartz layer arrays in the distributed low-grade mineralization.

Source: http://www.lunagold.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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