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 shortly after."
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 near-term."
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
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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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