The Aurizona Project is located in the state of Maranhão, north-eastern Brazil centered at Latitude 01º30′ S and Longitude 45º76′ W. All year road access is available from the state capitals of São Luis, Maranhão (320 km) and Belém, Pará (400 km), and is approximately an hour light aircraft flight from either capital city. Aurizona consists of one mine license and three exploration licenses totaling approximately 15,400 ha. Aurizona has a long history of gold mining since the arrival of Jesuit settlers during the 17th century and has experienced several informal gold rushes prior to the first modern exploration programs in the 1990s that culminated in the commissioning of Luna’s Aurizona mine in 2011.
In March 2013, Luna released an updated resource estimate for Aurizona of 3.63 million ounces (Moz) Measured & Indicated Resources and 1.04 Moz Inferred Resources, representing increases of 15% and 44% respectively from the December 2011 resource update. In April 2013, Luna announced an updated Piaba Deposit Proven & Probable Reserve of 2.36 million ounces, including 56 million tonnes (Mt) of ore with a mine life average of 1.32 grams of gold per tonne (g/t Au), representing a 222% increase when compared to the July 2010 Reserve statement. The regional geologic setting of the project area, the São Luis Craton (SLC), is an eastern extension of the Guyana Shield which contains several major Proterozoic gold deposits (for example Las Cristinas, Rosebel and Aurora) extending from Venezuela through to Brazil. Strong similarities also exist between the gold deposits at Aurizona and those located on the West African Craton. The most recent information for the Aurizona Project is contained in a NI 43-101 Technical Report dated April 29, 2013 and filed on SEDAR.
Project geology is dominated by several sub-parallel east north-east trending mineralized shear zones that cut the Aurizona Greenstone Group. There is a strong structural control on the gold mineralization in the Aurizona area which can be seen by the close association of magnetic lineaments with the gold deposits and near mine exploration targets. Mineralization is hosted within district scale shear zones and generally at or close to contacts with a volcano-sedimentary unit which generally forms the structural footwall to the mineralization. Drilling to date has discovered five Orogenic Gold Deposits; Piaba, Tatajuba, Boa Esperança, Conceição and Ferradura all located within the Aurizona Shear Zone (ASZ). Surface exploration programs have also discovered 15 near mine exploration targets at Aurizona that are being explored and advanced by Luna Gold’s exploration team based out of the Aurizona camp.