Luna Gold Corp TSXV:LGC announced drill results from the Piaba Gold Deposit of the Aurizona Mine project in Maranhao State, Brazil. Assays include 4.15 g/t gold over 55 metres (including 20 g/t over 1 metre), 2.5 g/t over 21 metres (including 5.21 g/t over 8 metres) and 2.53 g/t over 29 metres (including 57 g/t over 0.5 metres). In accordance with its gold purchase agreement with Luna, Sandstorm Gold Corp TSXV:SSL is entitled to purchase 17% of the life of mine gold produced from the Aurizona Mine at a per ounce price equal to the lesser of US$400 and the then prevailing market price.
President/CEO John Blake stated, “We are again pleased with the level of consistency in our drill results that demonstrate the strike and depth continuity of the ore body. Consistent mineralization along strike and at depth is encouraging for our objective to increase gold ounces in our resource. These excellent results give a high level of confidence in the resource upgrade planned for Q4 2011.”
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Luna Gold Corp
by Ted Niles