TORONTO, March 20, 2015 /CNW/ - Largo Resources Ltd. (TSX-V:LGO) ("Largo" or the "Company") announces that, as a result of a review by staff of the Ontario Securities Commission, Largo revised its corporate presentation to clarify the disclosure contained therein (the revised presentation was posted on February 26, 2015 and can be found on the Company's website). In particular, the presentation was revised to include the name(s) of the relevant Qualified Person (as that term is defined in NI 43-101) who reviewed the technical disclosure contained in the presentation, and to incorporate additional information in slide 18, including, information in respect of cut-off grades, pricing assumptions and other key assumptions to better comply with mineral property disclosure requirements and to help the reader better understand the information. Largo has also deleted certain historical estimate information in respect of its Campo Alegre property as it was not deemed material information at this stage.
Largo is a growing strategic mineral company with projects in Brazil and Canada. The immediate goal of the Company is to ramp-up production at its Vanadio de Maracás Menchen Mine.
Largo's Maracás Menchen Mine boasts the highest grade vanadium deposit yet discovered and is expected to be a low cost producer. With an off-take in place with Glencore, Largo is well positioned to become a leading producer of vanadium globally and is expected to generate substantial cash-flows.
Vanadium is primarily used as an alloy to strengthen steel and reduce its weight. Vanadium enhanced steels are used in a vast and growing range of products that are used and encountered every day; including, rebar, automobiles, transport infrastructure etc. With a compound annual growth rate of over 6% for the past several years (Roskill, 2013), vanadium is a bourgeoning commodity which lacks opportunities for investment in the wider market place. As trends in the steel industry now demand increasingly stronger and lighter products for advanced applications, the use of vanadium is expected to continue this growth over the medium and long term.
Largo also has interests in a portfolio of other projects, including: a 100% interest in the Currais Novos Tungsten Tailings Project in Brazil; 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".
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: please refer to Largo's website: www.largoresources.com or please contact: Darcie Ladd, Corporate Development, Phone: 416-861-9406, Fax: 416-861-9747, e-mail: [email protected], Web Site: www.largoresources.com