Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
Luna Gold has commenced production at its Aurizon Gold Mine in Maranhã State, Brazil.
Vancouver-based Luna Gold Corp. produced 10,905 ounces in November and December, with combined 90-day average throughputs over 3,615 tonnes per day, the company announced on Feb. 9. Peak daily throughputs were as high as 5,000 tonnes. The plant is on target for meeting its 4,500-tpd capacity by April 2011.
“Over the course of its construction and production ramp-up, Aurizona has overcome significant challenges and achieved an operational milestone today with the commencement of commercial production,” said Luna Gold President and CEO John Blake.
“Our operational and exploration teams have demonstrated their skills and expertise to achieve this production milestone. We will apply these skills to our next suite of growth projects, which include the expansion of the Aurizona production capacity, increasing the Aurizona resource base, advancing the Cachoeira development project and fast tracking new discoveries in our highly prospective 170,000 ha land holding in Maranhão State.”
Aurizona’s feasibility study has a processing capacity of 55,000 ounces in its first year of operations, ramping up to 60,000 ounces of gold per year for an 11-year mine life, the company stated.
Meanwhile, on Feb. 10 Luna Gold released a NI-43101 report for its Cachoeira project in northern Brazil. The report outlines 12.5 million tonnes of indicated gold resources at 1.11 g/t Au (446,000 gold ounces), and 5.4 million tonnes inferred at 1.27 g/t Au (221,300 gold ounces). The deposits are open along the strike and at depth.
For more details on both announcements, click here
