Symbol: LGO (TSX.V)
TORONTO, May 16, 2014 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce that it has begun the warming of the kiln at
the Maracas Vanadium project in Bahia, Brazil.
The warming of the kiln signals the conclusion of the commissioning
process at the facility. Once the kiln has reached its design
temperature, Largo will begin feeding vanadium concentrate through the
kiln and downstream facility (see Figure 1: Process Flow) and vanadium
pentoxide production is anticipated to occur shortly thereafter.
Mr. Les Ford, Largo's Senior Vice President and Technical Director of
Brazil Operations, stated: "This is a key milestone in the project's
development. Once the kiln has reached around 1000 Celsius, we will
immediately begin feeding the vanadium concentrate that we have been
stockpiling through the facility." He continued: "Once the feed to the
kiln has begun, there is a buildup of vanadium within the processing
plant for a few days, with first V2O5 flake production starting very
Mark Brennan, Largo's President and Chief Executive Officer, added: "We
are extremely pleased with this development and remain positive about
our prospects during the initial ramp-up period. We look forward to
becoming the world's newest producer of vanadium in the very
Largo is a growing strategic mineral company with projects in Brazil and
Canada. The immediate goal of the Company is to bring its Maracás
Vanadium Project to production in 2014. Largo also has interests in a
portfolio of other projects, including: a 100% interest in the Currais
Novos Tungsten Tailings Project in Brazil, which the Company continues
to develop; a 100% interest in the Campo Alegre de Lourdes
Iron-Vanadium Project in Brazil; and a 100% interest in the Northern
Dancer Tungsten-Molybdenum property in the Yukon Territory, Canada.
Largo is listed on the TSX Venture Exchange under the symbol "LGO".
Mr. Michael Mutchler, Chief Operating Officer to Largo and a Qualified
Person under 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
Join our mailing list to receive regular photo updates of our progress: www.largoresources.com/English/about-us/contact/default.aspx
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 MD&As.
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Image with caption: "Figure 1: Process Flow (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140516_C8721_PHOTO_EN_40398.jpg
SOURCE: Largo Resources Ltd.
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