Largo Resources: 40 Percent Increase in Maracas Mineral Reserves

Largo Resources (TSXV:LGO) has announced a 40 percent increase in mineral reserves at the Campbell pit at its Maracás Menchen vanadium mine in Brazil.
As quoted in the press release, highlights included:

• 40% increase in Proven and Probable Mineral Reserves to 18.4 million tonnes, at a grade of 1.17% V₂O₅.
• Retrospective increase of 51% in aggregate tonnage when factoring in tonnage mined to date.
• Mine life of 15 years.
• The ore averages 29.5% magnetics (magnetite) which yields an average concentrate grade of 3.32% V₂O_5.
• New mine plan to produce V₂O₅ flakes rather than ferrovanadium (“FeV“) to improve project economics and allow faster ramp-up of production.

Largo President and CEO, Mark Smith, said:

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. 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.

Click here for the full press release.