Wednesday, 31st October 2007 (2050 views)

Initial results from four holes drilled on Luna Gold's Aurizona project have yielded the discovery of a new high-grade gold zone, according to the company's chief executive officer.

The holes have been drilled as part of a planned 3,750-metre operation on the site, which is designed to confirm and expand gold resources at the project in anticipation of a full feasibility study set to be released in the first quarter of 2008.

Luna Gold's Tim Searcy said that he was "very pleased" with the results of the programme so far.

"In these first four holes we have discovered a new high grade zone … and we have significantly expanded the depth of known mineralisation well beyond what has been included in previous resource estimates," he said.

Some 2,100 metres of diamond drilling have been carried out on a corridor on the site that extends for 2.4 kilometres on the site's Piaba deposit.

Drilling in this area is set to be finished in November, when the drill operation will move west to explore the Tatajuba zone, located 1.5 kilometres away.

Luna Gold currently has exploration and development operations underway on gold properties in Brazil and the US state of Nevada.

 

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