Largo completes construction of electrical power line and commences
commissioning of crushing systems at the Maracás Vanadium Project, Bahia,
Symbol: LGO (TSX.V)
TORONTO, Oct. 21, 2013 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company")
is pleased to announce that the installation of the main power line to the
Company's Maracás Vanadium Project ("the Project") in Bahia Brazil has
concluded. The 11 megawatt, 86 kilometer electrical power line is now
connected to the national grid and is supplying power for Project operations.
With main power line installation now complete, full commissioning of the
crushing system will commence shortly. Likewise, testing and pre-commissioning
of other completed system areas can now begin.
Mark Brennan, President and Chief Executive Officer, stated: "This is an
extremely exciting milestone for the Project. With power in place we can now
begin the commissioning process. Most system areas of the plant are complete
or nearing completion and will be commissioned and operational prior to the
end of the year, including the crushing and milling systems."
He continued "It is important to highlight the fact that we will be
commissioning the majority of system areas at the Project well ahead of full
commissioning of the plant (which will commence upon the expected completion
of the kiln in Q1, 2014). We believe this will provide us with a useful
cushion to our initial ramp-up schedule and an ability to better address
potential operational flaws well prior to lighting the kiln and beginning
Additionally, Largo announces the completion and successful commissioning of
the Project's water treatment plant.
Largo is a Canadian-based mineral resource exploration and development company
focused on creating a world leading strategic metals company. The immediate
goal of the Company is to develop the Maracás Vanadium Project by Q1, 2014
and to produce WO(3) concentrate from the reprocessing of tungsten tailings
from Currais Novos. Largo's skilled management team both in Canada and
Brazil, are confident in their ability to advance these projects. Largo
currently holds a 100% interest in the Maracás Vanadium Project, a 100%
interest in the Currais Novos Tungsten Tailings Project, a 100% interest in
the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100%
interest in the Northern Dancer Tungsten-Molybdenum property located in the
Yukon Territory, Canada.
Largo is listed on the TSX Venture Exchange under the symbol "LGO".
Mr. Tim Mann P.Eng., a Qualified Person as defined by the National Instrument
43-101, has reviewed and approved the contents of this press release.
For more information please refer to Largo's website: www.largoresources.com
This press release contains forward-looking information under Canadian
securities legislation. forward-looking information includes, but is not
limited to, statements with respect to completion of the private placement,
Largo's development potential and timetable of the Maracás and Northern
Dancer projects; Largo's ability to raise additional funds necessary; the
future price of tungsten and molybdenum; the estimation of mineral reserves
and mineral resources; conclusions of economic evaluation; the realization of
mineral reserve estimates; the timing and amount of estimated future
production, development and exploration; costs of future activities; capital
and operating expenditures; success of exploration activities; mining or
processing issues; currency exchange rates; government regulation of mining
operations; and environmental risks. Generally, forward-looking statements can
be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or "will
be taken", "occur" or "be achieved". Forward-looking statements are based on
the opinions and estimates of management as of the date such statements are
made. Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Largo to be materially different
from those expressed or implied by such forward-looking statements, including
but not limited to those risks described in the annual information form of
Largo and in its public documents filed on SEDAR from time to time. Although
management of Largo has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Largo does not undertake to update any forward-looking statements,
except in accordance with applicable securities laws. Readers should also
review the risks and uncertainties sections of Largo's annual and interim
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE Largo Resources Ltd.
Darcie Ladd Manager Business Development 416-861-9406
Mark Brennan President & CEO
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-0- Oct/21/2013 13:00 GMT
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