Toronto, Ontario-(market wire)-08/06/11-Largo resources Ltd. (TSX Venture: LGO) announced today that began a drill hole 13, 5,000 metre diamond on property of Northern Dancer tungsten-molybdenum 1,500 dunams of which crosses the border of British Colombia Yukon 290 km east of Whitehorse.
Diamond drill hole program 13 is part of the work required to complete a Prefeasibility Study, which is today. Drill program will collect sufficient representative sample for the test ????????? working to support PFS (approx. 11 tons). The program also later in the test areas, the molybdenum tungsten drill programs groves 2006, 2007, 2008 to upgrade some of the existing resources of the derived category Indicated to support the PFS. This is a series of angled drill holes across a deposit to test areas.
NI 43-101 resource is present in Northern Dancer: complex Project measured resources of 19.1 million tonnes grading 0.114% WO3 and 0.030% Mo and Indicated resources of 192.6 million tonnes grading 0.100% WO3 and 0.029%-Mo mineral resources evaluation. Measured and Indicated contains 500.1 million pounds of WO3 (tons k 226.9) and 143.8 million pounds of Mu (65.2 k tons).
Inferred resources are estimated 201.2 million tonnes grading 0.089% WO3 and 0.024% Mo containing 393.1 million pounds of WO3 (178.3 k tons) and 107.7 million pounds of Mu (tons k 48.9) (see press release March 12, 2009).
Completion expected PFS by first quarter of 2012, evaluate various engineering studies and environmental.
Deposit of Northern dancer is one of the world's largest known tungsten-molybdenum porphyry style, the core of which is already partially planted on 134-hole drilling diamond, 496 meters of underground your mind. In this work by AMAX minerals research from 1977 to 1980, including 51 holes and Largo who has completed 10 holes, 18 holes in 2006-2007, 38 holes. March 12, 2009 (see press release 12/03/09) Largo announced NI updated 43-101 compliant resource.
On Northern Dancer mineralization, tungsten, molybdenum are concentrated in two areas of overlap partially. Mineralization is hosted in fractions, veinlets and veins associated with trend Northeast sheeted vein structure hosted rocks thought-silicate (skarn), in the related plessy penetration (porphyry quartz-feldspar). Deposit, which have been tested by drilling for 1.2 km along strike, 500 metres vertically 600 meters width, remains open along strike to the Northeast and Southwest as well as depth. Core deposit, molybdenite occurs within and alongside penetration of felsic molybdenum higher grade. Partially overlaps the area surrounding molybdenum is much more extensive area where scheelite tungsten occurs in quartz veins structure sheeted trend Northeast.
Quality control
Mr. Andy Campbell, p. Geo. is a qualified person as defined under national instrument 43-101 is responsible for the scientific work on the program.
About Largo
Largo resources Ltd. is a Canadian natural resource research and development company with two advanced stage projects: deposit maracas vanadium-PGM in Brazil and Northern Dancer deposit tungsten-molybdenum in Yukon. The company owns also project exploration society vanadium Campo Alegre de Lourdes in Brazil. The company listed on TSX Venture Exchange under the symbol of LGO.
For more information please see the Web site of the Largo: www.largoresources.com
Disclaimer
This press release contains statements about future under Canadian securities legislation. Future declarations regarding include but are not limited to, statements regarding the proposed use of proceeds, obtaining regulatory approval; Completion of the financing terms offered; Timetable of Northern dancer and maracas and potential development of Largo projects; Ability of Largo raise funds more needed; Future price of ferrovanadium and vanadium pentoxide; Mineral reserves and mineral resources estimation; Conclusions of the economic evaluation; Realization of mineral reserve; The timing and amount of estimated future production, development and research; Costs of future activities; Capital and operating expenses; The success of exploration society; Mining or processing issues; Currency exchange rates; Government regulation of mining operations; Environmental risks. In General, you can identify future declarations regarding future use of the terms such as "plans", "expects" or "expects", "unexpected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "anticipate", or "believe" or variations of words, phrases or statements, actions, events or results "may" certain, "was", "was", "may" or "will", "Awakening" or "available".
Future statements regarding management's estimates are based on the date such declarations are opinions. Future statements about the subject to known and unknown risks, uncertainties and other factors that could cause actual results, level of activity, performance or achievements to be materially different from those in the Largo, or implied by such statements regarding the future, including but not limited to risks related to: scheduling and availability of external financing conditions acceptable; Unexpected events and delays during construction, expansion and start-up; Variations in ore grade and recovery; Certificate, CRL Government; Actual results of current research activities; Changes parameters in the project plans to continue to be refined; Future price of ferrovanadium; Failure of plant, equipment, or processes to run as expected; Labour disputes, accidents and other risks of mining. Although managing Largo attempted to identify important factors that could cause actual results to vary materially from those contained in the statements about the future, there may be other factors that may cause unintended consequences be of, estimated or intended. There is no guarantee that would prove the statement be precise, the actual results, events, futures was expected such statements than substantial. Accordingly, readers should be placed more reliance on statements about the future. Largo does not undertake to update any statements regarding future except in compliance with applicable securities.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. Securities were not and not registered under the Securities Act of 1933, United States of the revised ("United States Securities Act") or any State securities laws, you may not be offered or sold within the United States or to u.s. persons unless registered under the securities law of the United States securities laws and applicable state or exempt from such logging enabled.
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Contacts: Largo resources Ltd. Mark & CEO BrennanPresident (415) 861-5886mbrennan@largoresources.comwww.largoresources.comSource: Largo resources Ltd.
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