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 production."
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 WO3 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 MD&As.
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE: Largo Resources Ltd.
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