Vancouver, June 11, 2013 – Luna Gold Corp. (TSX-LGC) (BVL-LGC) (“Luna” or the “Company”) today announced the identification of the Jupiter, Indus and Juno gold targets at the Company’s Luna Greenfields project. Luna has mapped numerous artisanal gold workings associated with shear zones within this new district, which is located 23 kilometers southeast of the Company’s Aurizona Gold Mine. Target maps and photos can be viewed on the Luna Gold website, www.lunagold.com.
Highlights
New mineralized east-northeast trending Jupiter Shear Zone (“JSZ”) extending for 8 km and hosting over 10 artisanal gold workings - reconnaissance rock and tailings grab sampling program (135 samples) returned grades from below detection limit (0.005 grams per tonne (“g/t”)) gold to 38.90 g/t gold
New Indus target consisting of a 250 meters long outcropping north-northwest trending shear-hosted quartz-vein system located north of the JSZ - reconaissance rock and tailings grab sampling program (103 samples) returned grades from below detection limit to 21.30 g/t gold with over 50 samples exceeding 1.00 g/t gold
New Juno target consisting of a large artisanal pit where gold mineralization is hosted in a shallow dipping shear zone in amphibolite rocks - reconnaissance rock and tailings grab sampling program (46 samples) returned grades from below detection limit to 5.54 g/t gold
“The encouraging initial exploration results at our Jupiter, Juno, and Indus targets further add to the discovery potential of our promising Luna Greenfields project,” stated John Blake, Luna’s President and CEO. “Our exploration team is focused on defining targets that share the characteristics of the gold deposits at the Aurizona Gold Mine in terms of both structural controls and scale. Additionally, we are devoting increased attention to the discovery of higher-grade deposits.”
“Luna’s top priority is to successfully complete the Aurizona Phase I Expansion by the end of 2013 on budget. The Company has adjusted its 2013 exploration field programs in order to conserve the Company’s financial resources to ensure Phase I Expansion delivery targets are met”, explains John Blake, also adding “We remain focused on generating new gold targets through the interpretation of Luna Greenfields’ significant exploration database which we have been developing since 2009. This database consists of over 33,000 surface geochemical samples, in addition to geological, drill, and geophysical data. For the remainder of 2013, the exploration team is conducting detailed target generation studies that will help Luna identify future discoveries.”
Jupiter Shear Zone
The east-northeast-trending JSZ is located in the eastern portion of the Luna Greenfields project approximately 22 kilometers southeast of the Aurizona mine. Eleven separate artisanal workings have been mapped to date within the 8 kilometers long JSZ. These workings range from old flooded pits, where artisanal miners extracted gold from quartz veins (such as artisanal pit JPT01), to surface lateritic workings where gold nuggets were mined using metal detectors. Luna has conducted a reconnaissance stage exploration program within the JSZ that involved surveying of pits and excavations, geological mapping, and soil, rock and tailings sampling. These data are presented on maps on the Company’s website, and collectively they define a mineralized shear corridor. Gold mineralization is predominantly contained in quartz vein sets hosted by Paleoproterozoic intrusives consisting of tonalities and granodiorites. However, low-grade gold mineralization was also identified within some intrusives. Grades from surface geochemical sampling range from below detection limit to 38.90 g/t gold. Table 1 contains a summary of Luna’s reconnaissance rock and tailings sampling program along the Jupiter Shear Zone.
Indus Target
The Indus target is located 20 kilometers southeast of the Aurizona Gold Mine and to the north of the JSZ. Indus consists of a shear controlled north-northwest trending swarm of westerly-dipping (at 50o) quartz veins hosted in saussuritized porphyritic granodiorite displaying strong kaolinization and containing minor pyrite with occasional visible gold. Luna has conducted geologic mapping and a reconnaissance stage rock and tailings sampling program to determine the grade of both the veins and host rock. Initial results are positive, with grades ranging from below detection limit to 21.30 g/t gold and over 50 samples greater than 1.00 g/t gold. A systematic outcrop channel sampling program will be conducted when water levels in the pits drop. Mapping will also be undertaken to the north and south in order to determine the true strike of this vein system.
Juno Target
The Juno target is located 23 kilometers southeast of the Aurizona Gold Mine and is centered on a large artisanal pit (JNO01) that extends for 100 meters in a northeast direction. Gold mineralization is contained in a smoky and milky quartz vein set within a shallow-dipping northeast trending shear zone that cuts through an amphibolite unit. The amphibolite is altered to sericite-kaolin-quartz+chlorite in the footwall of the shear zone. Reconnaissance rock grab sampling has returned samples ranging from below detection limit up to 5.54 g/t gold at the Juno target and an outcrop channel sampling program will be conducted when water levels in the pits drop.
Luna will advance the understanding of these new targets through focused sampling programs, structural mapping and interpretation. The Company’s objective is to rank these new targets against the existing targets at Luna Greenfields. The diverse geology and association of gold mineralization with regional-scale shear zones are significant targets.
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Target maps and photos can be viewed on the Luna Gold website, www.lunagold.com |
