Symbol: LGO (TSX.V)
www.largoresources.com
-- Intersected 27 metres grading 1.07% V2O5 on the Novo Amparo
Norte Zone
-- Intersected 20.00 metres grading 1.13% V2O5on the Novo Amparo
Norte Zone
-- Intersected 12 metres grading 1.05% V2O5 on the Sao Jose West
Zone
-- Intersected 12 metres grading 1.03% V2O5 on the Gulcari 'A'
North Zone
TORONTO, March 29, 2012 /CNW/ - Largo Resources Ltd.
('Largo' or the 'Company') is pleased to announce the final assay results from the final 25 drill holes totalling 3,981 meters from the recently completed drill program at its Maracas Vanadium Project in Bahia, Brazil. The below stated results are from the Novo Amparo Norte, Sao Jose West and Gulcari 'A' North zones, located north of the Gulcari 'A' deposit which hosts all the previously reported resources on the Maracas property (see
Figure 1).
Significant results include (these are all true thickness):
-- Hole FNAN10 - 27.00 metres grading 1.07% V2O5, including 21.00
metres grading 1.18% V2O5(Novo Amparo Norte Zone)
-- Hole FNAN15 - 20.00 metres grading 1.13% V2O5(Novo Amparo Norte
Zone)
-- Hole FGAN06 - 7.00 metres grading 1.09% V2O5,including 3.00
metres grading 1.18% V2O5(Gulcari 'A' North Zone)
-- Hole FGAN15 - 12.00 metres grading 1.03% V2O5(Gulcari 'A' North
Zone)
-- Hole FGAN17 - 9.00 metres grading 1.10% V2O5(Gulcari 'A' North
Zone)
-- Hole FSJ21 - 12.00 metres grading 1.05% V2O5(Sao Jose West
Zone)
The current drill holes are step out holes testing new zones north and east from the Gulcari 'A' deposit (see Figure 1). The complete results are presented below in Table 1.
Andy Campbell, P.Geo., Vice President, Exploration of the Company commented: 'I am very pleased with the results that the recently completed drill program has produced and anticipate that this program will lead to a significant increase in the global resources at the project. We targeted specific stepout holes away from the Gulcari 'A' deposit which have led to some of what we believe are considerable extensions to the existing resource. With the drill program completed we are now focused on incorporating these new results into our database and updating our geological model in order to produce a new mineral resource for the project.'
Table 1
Drill Results:
Pd Pt
True
Hole Interval thickness V2O5 Zones
Number From To (metres) (m) (%) (g) (g)
FGAN06 169.00 176.00 7.00 6.00 1.09
Gulcari 'A'
North
zone
including 172.00 175.00 3.00 3.00 1.18 0.46 0.46
Gulcari 'A'
North
FGAN07 177.00 184.00 7.00 6.00 1.05 0.41 0.44 zone
FGAN08 138.00 143.00 5.00 5.00 0.88
Gulcari 'A'
North
zone
and 204.00 207.93 3.93 3.50 0.95
Gulcari 'A'
North
FGAN09 89.30 97.50 8.20 8.00 0.87 0.11 0.58 zone
FGAN10 26.00 29.00 3.00 3.00 0.73
Gulcari 'A'
North
zone
and 86.00 89.00 3.00 3.00 0.52 0.41 0.28
FGAN11 34.00 38.00 4.00 4.00 1.04
Gulcari 'A'
and 48.00 52.00 4.00 4.00 1.00 North
zone
and 110.00 112.00 2.00 2.00 0.56 0.56 0.34
Gulcari 'A'
North
FGAN12 106.00 110.00 4.00 4.00 0.47 0.55 zone
Gulcari 'A'
North
FGAN13 82.50 86.50 4.00 4.00 0.50 0.33 0.33 zone
FGAN14 31.00 34.30 3.30 3.30 1.06
Gulcari 'A'
North
zone
and 90.00 95.10 5.10 5.00 1.00
FGAN15 60.00 63.00 3.00 3.00 1.00
Gulcari 'A'
North
zone
and 104.75 116.25 12.50 12.00 1.03
Gulcari 'A'
North
FGAN16 109.00 112.00 3.00 3.00 1.08 zone
FGAN17 77.00 79.20 2.20 2.00 1.07
Gulcari 'A'
and 104.25 106.40 2.15 2.00 1.00 North
zone
and 137.00 146.00 9.00 8.00 1.10
Sao Jose West
FSJ18 44.00 50.00 6.00 6.00 1.00 Zone
FSJ20 21.00 29.00 8.00 8.00 0.93
Sao Jose West
Zone
and 53.00 57.40 4.40 4.40 0.82
FSJ21 77.00 89.90 12.90 12.50 1.05
Sao Jose West
including 83.00 89.90 6.90 6.50 1.23 Zone
and 112.00 115.20 3.20 3.00 0.71
Sao Jose West
FSJ22 12.00 23.00 11.00 11.00 0.67 Zone
Sao Jose West
FSJ24 9.00 12.00 3.00 3.00 1.00 Zone
Sao Jose West
FSJ25 31.00 34.00 3.00 3.00 0.94 Zone
Novo Amparo
FNAN09 102.00 106.80 4.80 4.50 0.84 Norte
FNAN10 106.45 134.45 28.00 27.00 1.07
including 112.45 134.45 22.00 21.00 1.18 Novo Amparo
Norte
and 144.45 152.00 7.55 7.00 0.83
including 149.45 152.00 2.55 2.00 0.93 0.80 0.48
FNAN11 190.00 200.00 10.00 9.00 0.95
Novo Amparo
Norte
including 197.00 200.00 3.00 2.50 0.93 1.00 0.42
FNAN12 72.00 84.00 12.00 12.00 1.02
Novo Amparo
and 123.00 135.00 12.00 11.00 0.90 Norte
including 133.00 135.00 2.00 2.00 1.03 1.38 0.69
FNAN15 203.00 224.35 21.35 20.00 1.13
Novo Amparo
and 260.65 273.40 12.75 11.50 0.84 Norte
including 268.00 273.40 5.40 5.00 0.94 0.81 0.47
FNAN16 78.50 94.70 15.50 15.00 0.90
Novo Amparo
including 86.00 94.70 8.70 8.50 1.09 Norte
including 88.00 94.70 6.70 6.50 1.15 1.56 0.76
Novo Amparo
FNAN17 86.00 88.00 2.00 2.00 1.46 0.72 Norte
Table 2
Hole Locations:
__________________________________________________________
|Hole | | | | | | |
|Number |Northing |Easting|Elevation|Azimuth|Dip |Depth (m)|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 06|8,486,501|318,658| 305| 290 |-45°| 189.30|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 07|8,486,644|318,695| 307| 290 |-45°| 198.10|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 08|8,486,896|318,728| 307| 290 |-45°| 216.65|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 09|8,486,382|318,562| 301| 290 |-45°| 130.75|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 10|8,486,458|318,581| 305| 290 |-45°| 130.45|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 11|8,486,520|318,612| 312| 290 |-45°| 122.48|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 12|8,486,605|318,620| 304| 290 |-45°| 131.40|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 13|8,486,676|318,620| 310| 290 |-45°| 117.60|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 14|8,486,814|318,629| 312| 270 |-45°| 118.30|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 15|8,486,926|318,652| 319| 290 |-45°| 121.85|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 16|8,487,009|318,710| 312| 290 |-45°| 128.50|
|_______|_________|_______|_________|_______|____|_________|
|FGAN 17|8,487,116|318,711| 316| 290 |-45°| 161.35|
|_______|_________|_______|_________|_______|____|_________|
|FSJ 18 |8,488,656|319,059| 338| 290 |-45°| 156.40|
|_______|_________|_______|_________|_______|____|_________|
|FSJ 20 |8,488,425|318,957| 327| 290 |-45°| 132.20|
|_______|_________|_______|_________|_______|____|_________|
|FSJ 21 |8,488,344|318,997| 322| 290 |-45°| 180.65|
|_______|_________|_______|_________|_______|____|_________|
|FSJ 22 |8,488,346|318,899| 319| 290 |-45°| 153.85|
|_______|_________|_______|_________|_______|____|_________|
|FSJ 24 |8,488,260|318,812| 321| 290 |-45°| 153.80|
|_______|_________|_______|_________|_______|____|_________|
|FSJ 25 |8,488,196|318,800| 319| 290 |-45°| 156.00|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 09|8,492,303|319,981| 339| 290 |-45°| 170.80|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 10|8,492,400|319,978| 339| 290 |-45°| 175.80|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 11|8,492,885|320,117| 352| 290 |-45°| 223.10|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 12|8,492,756|320,048| 354| 290 |-45°| 196.95|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 15|8,492,536|320,051| 365| 290 |-45°| 286.90|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 16|8,492,361|319,900| 350| 290 |-45°| 113.20|
|_______|_________|_______|_________|_______|____|_________|
|FNAN 17|8,492,448|319,934| 351| 290 |-45°| 114.35|
|_______|_________|_______|_________|_______|____|_________|
Quality Assurance and Quality Control
Analytical work was carried out by SGS Minerals in Belo Horizonte, Brazil. The scientific and technical information in this press release has been conducted, reviewed and approved by Andy Campbell, P.Geo., Vice President of Exploration to Largo and a Qualified Person as defined by National Instrument 43-101
About Largo
Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company. Largo currently holds a 90% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailing 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. The immediate goal of the Company is to develop the Maracás Vanadium Project bythe end of summer 2013 and continue to produce WO(3) 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 is listed on the TSX Venture Exchange under the symbol 'LGO'.
For more information please refer to Largo's website: www.largoresources.com
Disclaimer
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 Maracas 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.
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE Largo Resources Ltd.
Image with caption: 'Figure 1 Property Map (CNW Group/Largo Resources Ltd.)'. Image available at: http://photos.newswire.ca/images/download/20120329_C8958_PHOTO_EN_11732.jpg
Largo Resources Ltd.
CONTACT: Darcie Ladd
Manager Business Development
416-861-9406
dladd@largoresources.com
