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Largo Resources Ltd.
Summary
| Project: | Maracas | |
|---|---|---|
| Deposit: | Campbell Pit | |
| Location: | Brazil | |
| Commodities: | Vanadium | |
| Date: | 5/26/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-5-2016: Largo Resources Ltd. announces a Resource Estimation report for its Campbell Pit deposit at the Maracas project. Updated mineral reserves at Campbell Pit, 40% increase on last estimate. Largo Resources Ltd. (Largo) has completed construction an | |
| Resources: | (Reserve, P+P): 18.392Mt @ 1.17% V2O5 at Campbell Pit | |
| CP/QP: | [Resources]: Robert Campbell (Internal) | |
| ABSTRACT: | Largo Resources Ltd. (Largo) has completed construction and development, and is currently ramping up to name plate capacity, at its Maracás Menchen Vanadium Mine Operation located in Bahia, Brazil. This Reserve Statement and New Mine Plan reports on the Whittle optimization of the Campbell Pit (Gulçari A). The Company commissioned the Report to look at the optimization of the Campbell Pit and the first updating of the Mineral Reserves since mining was commenced in September, 2013. The operation now only produces vanadium pentoxide (V2O5) with annual name plate production of 9,600 tonnes of V2O5 flake. Ferrovanadium (FeV) may be looked at again in the future. In 2015 Largo retained Whittle Consulting Pty. Ltd. (WCL) to prepare the optimized mine plan and plant feed schedule for the Maracás Menchen Mine using its proprietary Prober software described in Section 16 of this report. WCL subcontracted Micon International Limited (Micon) to assist with pit optimization studies and mine scheduling. This scope was later expanded to include Micon taking responsibility for a National Instrument 43-101-compliant (NI 43-101) mineral reserve statement and the production of a supporting Technical Report. For this report RungePincockMinarco (Canada) Limited (RPM) was retained to take responsibility for several sections of the report (as set out in Section 2 and in the certificates to this report). RPM participated in a Preliminary Economic Analysis for the deposit in 2013 and, as a result, is familiar with the plant (Arsenault et al., 2013). Micon signed off on the mineral resources within the Gulçari A deposit (Campbell pit) in 2013 in the Technical Report prepared by RPM. Coffey Mining Pty Ltd signed off on the mineral resource estimates for the satellite deposits in the same document. Micon has been involved in previous Technical Reports on the project, including previous mineral resource estimates, since 2008. As there has been no material change in the mineral resources at Maracás, Robert A. Campbell, P.Geo., of Largo has accepted responsibility for the resources in this report. | |
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