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
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
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.
For further information:
Manager Business Development
President & CEO
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