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Luna Gold Corp Updates Proven and Probable Mineral Reserve to 2.36 Million Ounces at Piaba Deposit
Apr. 09, 2013 04:25AM PST
Gold InvestingLuna Gold Corp. (TSX:LGC,OTCQX:LGCUF) announced that they have updated Proven and Probable Reserves for its Aurizona Gold Mine in Brazil.
Luna Gold Corp. (TSX:LGC,OTCQX:LGCUF) announced that they have updated Proven and Probable Reserves for its Aurizona Gold Mine in Brazil.
As quoted in the press release:
- Piaba deposit Proven and Probable mineral gold Reserve of 2.36 million ounces including 56 million tonnes of ore with life of mine average 1.32 grams of gold per tonne
- New reserve represents a 222% increase in Proven and Probable Reserves when compared to the Piaba July 2010 Reserve statement
- Piaba deposit reserves are contained within Aurizona property, which also contains Measured and Indicated gold Resources of 3.63 million ounces with inferred resource of 1 million ounces of gold
Luna Gold’s President and CEO, John Blake, said:
Luna Gold is very pleased to announce this substantial increase in reserves at Piaba. The April 2013 Reserve, when combined with the current Phase I expansion, will lead to greater than anticipated gold production at Aurizona.
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