VANADIUM: Largo witnesses big increase in Maracas reserves, updates mine plan

BRAZIL – Toronto-based Largo Resources says the tonnage of reserves have jumped 40% at its Maracas Menchen vanadium mine in Bahia. Proven and probable reserves  now stand at 18.4 million tonnes grading 1.17% V₂O₅. The larger reserves give the mine another 15 years of life at an annual mill throughput of 1.12 million tonnes. Annual  production of 9,600 tonnes of V₂O₅ is the target. The changes that are to be made will require no capex commitment and will leave the mill the flexibility to treat more resources that Largo expects will become available in satellite deposits. The satellite deposits were discovered in 2011 and 2012, and a preliminary economic assessment has been prepared. Largo’s Maracas mine is the world’s only primary vanadium producer. Visit www.LargoResources.com.