Luna Gold’s Brazil play to produce some 100 000 oz in 2013
JOHANNESBURG (miningweekly.com) – TSX-listed Luna Gold expected is flagship Aurizona gold mine, in Brazil, to produce between 95 000 oz and 105 000 oz of gold in 2013 at an average cash cost of between $705/oz and $715/oz.
The company said in its 2013 guidance report that it expected the completion of Phase I of the operation’s expansion during the fourth quarter of the year and aimed to increase Aurizona's production run rate to an equivalent of 125 000 oz/y during the fourth quarter.
“This year is poised to be a major year in Luna's development, as we anticipate not only several significant milestones at our Aurizona property but also the formal continuation of drilling at Luna Greenfields, which we believe has the potential to produce several gold deposits,” Luna president and CEO John Blake said on Monday.
Luna expected to spend some $13-million this year on sustaining items and other projects.
The company would continue drilling at the 100%-owned Touro target in the Luna Greenfields with the goal of defining a National Instrument (NI) 43-101-compliant resource.
Luna also anticipated delivery of an updated NI 43-101-compliant resource estimate for the Aurizona gold mine and the Piaba deposit during the first quarter of the year.
In addition, the company planned to release a preliminary feasibility study for Phase 2 of Aurizona's expansion during the fourth quarter of the year.
“Achieving all these objectives during 2013 is an ambitious endeavour. However, I am confident that the dedication and talent of our operational and exploration teams will allow us to reach these goals, and establish Luna as a midtier gold producer," Blake said.
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