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Luna Gold Corp.
Summary
| Project: | Aurizona | |
|---|---|---|
| Deposit: | Aurizona | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 9/12/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 12-9-2016: Luna Gold Corp. announces a Pre-Feasibility Study report for its Aurizona deposit at the Aurizona project. PFS results incl. post-tax NPV (5%) of $201M, IRR of 34%, 7 year LOM. Vancouver, British Columbia — Luna Gold Corp. (TSX-LGC), (“Luna” or | |
| Resources: | (Reserve, P+P): 18.6Mt @ 1.62g/t Au for 969000oz Au contained | |
| CP/QP: | [Resources]: Brett R. Marsh (Phoenix Geoscience LLC.) | |
| ABSTRACT: | Vancouver, British Columbia — Luna Gold Corp. (TSX-LGC), (“Luna” or the “Company”), is pleased to announce the results of its pre-feasibility study (PFS) prepared in accordance with National Instrument 43-101 (NI-43-101) on its 100% owned Aurizona gold mine (Project) located in northeastern Brazil. The PFS indicates that the Project represents a robust, rapid pay-back, high margin, simple open pit mining project that demonstrates strong returns in the current gold price environment. The financial results of the study yielded an after-tax internal rate of return (IRR) of 34% and a net present value (NPV) of $201 million based on a base case gold price of $1,250 per ounce and a discount rate of 5% (at $1,350 per ounce gold price the IRR is 41% and the NPV5% is $256 million). With the completion of the PFS, Luna has restated its Proven and Probable Mineral Reserves for the mine at 969,000 ounces of gold contained in 18.6 million tonnes of ore at a diluted grade of 1.62 grams per tonne (g/t) of gold. This has been underpinned by the re-evaluation of the Mineral Resources at Aurizona following the comprehensive 2015 drilling program, which included 15,000 metres of oriented core drilling, 3,000 metres of RC drilling and re-logging of historic core. The extensive technical work provides a strong basis for the new project and processing flow sheet to treat all ore types. As a result, the combined Measured and Indicated Mineral Resources are now at 1.6 million ounces of gold (inclusive of reserves) contained in 29.9 million tonnes at a grade of 1.67 g/t gold. | |
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