Largo Resources Ltd

Published : March 29th, 2012

Largo announces final assay results from the resource expansion drill program at its Maracas Vanadiu

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Keywords :   Brazil | Canada | Iron | Lead | Molybdenum | Tungsten |
Largo Resources Ltd. has added a new press release to its web site. For full details please visit the Largo web site at:

Largo announces final assay results from the resource expansion drill program at its Maracas Vanadium Project in Bahia, Brazil

Symbol: LGO (TSX.V)
www.largoresources.com

  • Intersected 27 metres grading 1.07% V2O5�  on the Novo Amparo Norte�  Zone

  • Intersected 20.00 metres grading 1.13% V2O5 on the Novo Amparo Norte Zone

  • Intersected 12 metres grading 1.05% V2O5�  on the Sao Jose West�  Zone

  • Intersected 12 metres grading 1.03% V2O5�  on the Gulcari "A" North Zone

TORONTO, March 29, 2012 /CNW/ - Largo Resources Ltd. (TSXV:LGO) ("Largo" or the "Company") is pleased to announce the final assay results from the final 25 drill holes totalling 3,981 meters from the recently completed drill program at its Maracas Vanadium Project in Bahia, Brazil. The below stated results are from the Novo Amparo Norte, Sao Jose West and Gulcari "A" North zones, located north of the Gulcari "A" deposit which hosts all the previously reported resources on the Maracas property (see Figure 1).

Significant results include (these are all true thickness):

  • Hole FNAN10 - 27.00 metres grading 1.07% V2O5, including 21.00 metres grading 1..18% V2O5 (Novo Amparo Norte Zone)

  • Hole FNAN15 - 20.00 metres grading 1.13% V2O5 (Novo Amparo Norte Zone)

  • Hole FGAN06 - 7.00 metres grading 1.09% V2O5, including 3.00 metres grading 1.18% V2O5 (Gulcari "A" North Zone)

  • Hole FGAN15 - 12.00 metres grading 1.03% V2O5 (Gulcari "A" North Zone)

  • Hole FGAN17 - 9.00 metres grading 1.10% V2O5 (Gulcari "A" North Zone)

  • Hole FSJ21 - 12.00 metres grading 1.05% V2O5 (Sao Jose West Zone)

The current drill holes are step out holes testing new zones north and east from the Gulcari "A" deposit (see Figure 1). The complete results are presented below in Table 1.

Andy Campbell, P.Geo., Vice President, Exploration of the Company commented:�  "I am very pleased with the results that the recently completed drill program has produced and anticipate that this program will lead to a significant increase in the global resources at the project. We targeted specific stepout holes away from the Gulcari "A" deposit which have led to some of what we believe are considerable extensions to the existing resource. With the drill program completed we are now focused on incorporating these new results into our database and updating our geological model in order to produce a new mineral resource for the project."

Table 1
Drill Results:

�  �  �  �  �  �  �  �  � 
Hole
Number
From To �  True
thickness
(m)
V2O5
(%)
�  �  � 
�  Pd Pt � 
Interval
(metres)
(g) (g) Zones

FGAN06 169.00 176.00 7.00 6.00 1.09 �  �  Gulcari "A" North
zone
including 172.00 175.00 3.00 3.00 1.18 0.46 0.46
FGAN07 177.00 184.00 7.00 6.00 1.05 0.41 0.44 Gulcari "A" North
zone
FGAN08 138.00 143.00 5.00 5.00 0.88 �  �  Gulcari "A" North
zone
and 204.00 207.93 3.93 3.50 0.95 �  � 
FGAN09 89.30 97.50 8.20 8.00 0.87 0.11 0.58 Gulcari "A" North
zone
FGAN10 26.00 29.00 3.00 3.00 0.73 �  �  Gulcari "A" North
zone
and 86.00 89.00 3.00 3.00 0.52 0.41 0.28
FGAN11 34.00 38.00 4.00 4.00 1.04 �  �  Gulcari "A" North
zone
and 48.00 52.00 4.00 4.00 1.00 �  � 
and 110.00 112.00 2.00 2.00 0.56 0.56 0.34
FGAN12 106.00 110.00 4.00 4.00 �  0.47 0.55 Gulcari "A" North
zone
FGAN13 82.50 86.50 4.00 4.00 0.50 0.33 0.33 Gulcari "A" North
zone
FGAN14 31.00 34.30 3.30 3.30 1.06 �  �  Gulcari "A" North
zone
and 90.00 95.10 5.10 5.00 1.00 �  � 
FGAN15 60.00 63.00 3.00 3.00 1.00 �  �  Gulcari "A" North
zone
and 104.75 116.25 12.50 12.00 1.03 �  � 
FGAN16 109.00 112.00 3.00 3.00 1.08 �  �  Gulcari "A" North
zone
FGAN17 77.00 79.20 2.20 2.00 1.07 �  �  Gulcari "A" North
zone
and 104.25 106.40 2.15 2.00 1.00 �  � 
and 137.00 146.00 9.00 8.00 1.10 �  � 
FSJ18 44.00 50.00 6.00 6.00 1.00 �  �  Sao Jose West Zone
FSJ20 21.00 29.00 8.00 8.00 0.93 �  �  Sao Jose West Zone
and 53.00 57.40 4.40 4.40 0.82 �  � 
FSJ21 77.00 89.90 12.90 12.50 1.05 �  �  Sao Jose West Zone
including 83.00 89.90 6.90 6.50 1.23 �  � 
and 112.00 115.20 3.20 3.00 0.71 �  � 
FSJ22 12.00 23.00 11.00 11.00 0.67 �  �  Sao Jose West Zone
FSJ24 9.00 12.00 3.00 3.00 1.00 �  �  Sao Jose West Zone
FSJ25 31.00 34.00 3.00 3.00 0.94 �  �  Sao Jose West Zone
FNAN09 102.00 106.80 4.80 4.50 0.84 �  �  Novo Amparo Norte
FNAN10 106.45 134.45 28.00 27.00 1.07 �  �  Novo Amparo Norte
including 112.45 134.45 22.00 21.00 1.18 �  � 
and 144.45 152.00 7.55 7.00 0.83 �  � 
including 149.45 152.00 2.55 2.00 0.93 0.80 0.48
FNAN11 190.00 200.00 10.00 9.00 0.95 �  �  Novo Amparo Norte
including 197.00 200.00 3.00 2.50 0.93 1.00 0.42
FNAN12 72.00 84.00 12.00 12.00 1.02 �  �  Novo Amparo Norte
and 123.00 135.00 12.00 11.00 0.90 �  � 
including 133.00 135.00 2.00 2.00 1.03 1.38 0.69
FNAN15 203.00 224.35 21.35 20.00 1.13 �  �  Novo Amparo Norte
and 260..65 273.40 12.75 11.50 0.84 �  � 
including 268.00 273.40 5.40 5.00 0.94 0.81 0.47
FNAN16 78.50 94.70 15.50 15.00 0.90 �  �  Novo Amparo Norte
including 86.00 94.70 8.70 8.50 1.09 �  � 
including 88.00 94.70 6.70 6.50 1.15 1.56 0.76
FNAN17 86.00 88.00 2.00 2.00 �  1.46 0.72 Novo Amparo Norte

Table 2
Hole Locations:

Hole
Number
Northing Easting Elevation Azimuth Dip Depth (m)
FGAN 06 8,486,501 318,658 305 290 -45° 189.30
FGAN 07 8,486,644 318,695 307 290 -45° 198.10
FGAN 08 8,486,896 318,728 307 290 -45° 216.65
FGAN 09 8,486,382 318,562 301 290 -45° 130.75
FGAN 10 8,486,458 318,581 305 290 -45° 130.45
FGAN 11 8,486,520 318,612 312 290 -45° 122.48
FGAN 12 8,486,605 318,620 304 290 -45° 131.40
FGAN 13 8,486,676 318,620 310 290 -45° 117.60
FGAN 14 8,486,814 318,629 312 270 -45° 118.30
FGAN 15 8,486,926 318,652 319 290 -45° 121.85
FGAN 16 8,487,009 318,710 312 290 -45° 128.50
FGAN 17 8,487,116 318,711 316 290 -45° 161.35
FSJ 18 8,488,656 319,059 338 290 -45° 156.40
FSJ 20 8,488,425 318,957 327 290 -45° 132.20
FSJ 21 8,488,344 318,997 322 290 -45° 180.65
FSJ 22 8,488,346 318,899 319 290 -45° 153.85
FSJ 24 8,488,260 318,812 321 290 -45° 153.80
FSJ 25 8,488,196 318,800 319 290 -45° 156.00
FNAN 09 8,492,303 319,981 339 290 -45° 170.80
FNAN 10 8,492,400 319,978 339 290 -45° 175.80
FNAN 11 8,492,885 320,117 352 290 -45° 223.10
FNAN 12 8,492,756 320,048 354 290 -45° 196.95
FNAN 15 8,492,536 320,051 365 290 -45° 286.90
FNAN 16 8,492,361 319,900 350 290 -45° 113.20
FNAN 17 8,492,448 319,934 351 290 -45° 114.35

Quality Assurance and Quality Control

Analytical work was carried out by SGS Minerals in Belo Horizonte, Brazil.�  The scientific and technical information in this press release has been conducted, reviewed and approved by Andy Campbell, P.Geo., Vice President of Exploration to Largo and a Qualified Person as defined by National Instrument 43-101

About Largo

Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company.�  Largo currently holds a 90% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailing Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada.�  The immediate goal of the Company is to develop the Maracás Vanadium Project bythe end of summer 2013 and continue to produce WO3 concentrate from the reprocessing of tungsten tailings from Currais Novos.�  Largo's skilled management team both in Canada and Brazil, are confident in their ability to advance these projects.

Largo is listed on the TSX Venture Exchange under the symbol "LGO".

For more information please refer to Largo's website: www.largoresources.com

Disclaimer

This press release contains forward-looking information under Canadian securities legislation.�  forward-looking information includes, but is not limited to, statements with respect to completion of the private placement, Largo's development potential and timetable of the Maracas and Northern Dancer projects; Largo's ability to raise additional funds necessary; the future price of tungsten and molybdenum; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Largo to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE



Click Here for a complete listing of Largo press releases.

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Largo Resources Ltd

DEVELOPMENT STAGE
CODE : LGO.V
ISIN : CA5171031076
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Largo Res. is a gold and copper exploration company based in Canada.

Largo Res. develops gold, copper and tungsten in Brazil, and holds various exploration projects in Canada.

Its main asset in development is CURRIAS NOVO in Brazil and its main exploration properties are MACUCHI in Ecuador, MARACAS in Brazil and NORTHERN DANCER in Canada.

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TSX-V (LGO.V)Other OTC (LGORF)
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