Sign up USA
Proactive Investors - Run By Investors For Investors

Largo increases Campbell pit reserves to 18.4 Mt

Largo Resources shares rose 3.5% on Thursday after the company said it had increased by 40% the mineral reserves for the Campbell pit at its Maracas Menchen vanadium mine in Bahia, Brazil, and released a new mine plan for the Maracas project
Largo increases Campbell pit reserves to 18.4 Mt
Mineral reserves rise 40%

Largo Resources Ltd. (CVE:LGO) shares rose 3.5% on Thursday after the company said it had increased by 40% the mineral reserves for the Campbell pit at its Maracas Menchen vanadium mine in Bahia, Brazil, and released a new mine plan for the Maracas project.

The update, prepared by Whittle Consulting, Micon International Ltd. and RungePincockMinarco (Canada) Ltd., has increased the proven and probable mineral reserves for the Maracas project to 18.4mln tonnes from the 13.1mln tonnes established previously in the 2008 definitive feasibility study for the project (updated in 2009) by Aker Metals, a division of Aker Solutions Canada Inc.

The new mine plan, based on the production of vanadium pentoxide (V2O5) and larger mineral reserves, results in an operating life of the Maracas project and process plant of 15 years at a production rate of 9,600 tonnes V2O5 per annum.

Mark A. Smith, president and chief executive officer of Largo, stated: "We are very pleased with the updated reserve as it continues to demonstrate the robust nature of the project. The reserve supports the high performance of our operation." He further stated, "The reserve is the result of our greater understanding and knowledge of the orebody, and the next phase of our work will be to systematically upgrade the resources in the satellite deposits in order that they may contribute to the expansion of the project."

Largo shares ended up 3.57% at C$0.58 on Thursday.

View full LGO profile View Profile

Largo Resources Ltd Timeline

Newswire
July 05 2016

Related Articles

Kin Mining's Trevor Dixon talked release of the company's Definitive Feasibility Study at Proactive'
September 14 2017
Trevor Dixon talked pending DFS and gold ounce growth strategy at Proactive's CEO Sessions.
Gold-plus-dollars.jpg
February 21 2017
Pershing Gold is planning to produce an initial 88,500 ounces per year from the Relief Canyon mine in Nevada
picture of mining drill
August 03 2017
Latest results from drilling at the Sanama Hill target at Ferensola confirmed continuity of the mineralisation
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use