Largo Identifies Significant Platinum-Palladium Grades from Sampling of the Non-Magnetic Tailings Ponds at its Maracás Menchen Mine; Commences Further Analysis of Platinum Group Metals as Part of its Ongoing Exploration Program
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Figure 1: View of Non-Magnetic Tailings Ponds Two and Pond Three with the Auger Drill Hole Positions (Photo: Business Wire)
He continued: “In 2014, Largo contracted Société Générale de
Non-Magnetic Tailings Pond Auger Drill Hole Highlights
- BN3TR15: 3.0 metres grading 0.410g Pt/t and 0.209g Pd/t and 0.07g Au/t totalling 0.687g PGM equivalent (“PGM eq.”)
- BN2TR1: 4.3 metres grading 0.321g Pt/t and 0.118g Pd/t and 0.04g Au/t totalling 0.480g PGM eq.
There are three non-magnetic tailings ponds at the Maracás
Table 1: Non-Magnetic Tailings Ponds Tonnage Statistics
Non-Magnetic Tailings Ponds
|
|||
Pond |
Volume |
Density |
Tonnage |
km3 |
t/m3 |
kt |
|
BNM02 |
640.30 |
1.80 |
1,152.53 |
BNM03 |
521.14 |
1.80 |
938.05 |
Total in Ponds |
1,161.44 |
1.80 |
2,090.58 |
The non-magnetic tailings material is the result of the process of separating material that contains vanadium. The non-magnetic flow contains silicates (mostly amphiboles and pyroxenes) and ilmenite. This material feeds the flotation plant and then the ilmenite is separated from the silicates generating the ilmenite concentrate.
Table 2: Auger Drill Program Results (Non-Magnetic Tailings Ponds Two and Three)
Hole ID |
X Coordinators |
Y Coordinates |
Z |
From |
To |
Length |
Au |
Pd |
Pt |
PGM |
PGM eq. |
(Pt+Pd) |
(Au+PGM) |
||||||||||
(m) |
(m) |
(m) |
g/t |
g/t |
g/t |
g/t |
g/t |
||||
BN2TR1 |
317,069 |
8,486,353 |
326 |
0.0 |
4.30 |
4.3 |
0.041 |
0.118 |
0.321 |
0.439 |
0.480 |
BN2TR2 |
317,131 |
8,486,325 |
327 |
0.0 |
1.00 |
1.00 |
0.020 |
0.089 |
0.228 |
0.317 |
0.337 |
BN2TR3 |
317,190 |
8,486,300 |
327 |
0.0 |
2.50 |
2.50 |
0.032 |
0.127 |
0.347 |
0.473 |
0.505 |
BN2TR4 |
317,092 |
8,486,311 |
327 |
0.0 |
3.80 |
3.80 |
0.040 |
0.158 |
0.428 |
0.586 |
0.626 |
BN2TR5 |
317,150 |
8,486,284 |
327 |
0.0 |
1.00 |
1.00 |
0.029 |
0.110 |
0.297 |
0.407 |
0.436 |
BN2TR6 |
317,051 |
8,486,295 |
327 |
0.0 |
0.60 |
0.60 |
0.040 |
0.162 |
0.437 |
0.599 |
0.639 |
BN2TR7 |
317,110 |
8,486,269 |
327 |
0.0 |
1.60 |
1.60 |
0.034 |
0.133 |
0.341 |
0.473 |
0.507 |
BN2TR8 |
317,169 |
8,486,243 |
327 |
0.0 |
1.70 |
1.70 |
0.033 |
0.126 |
0.338 |
0.463 |
0.496 |
BN2TR9 |
317,070 |
8,486,253 |
327 |
0.0 |
1.60 |
1.60 |
0.040 |
0.165 |
0.431 |
0.596 |
0.635 |
BN2TR10 |
317,130 |
8,486,228 |
327 |
0.0 |
3.00 |
3.00 |
0.041 |
0.132 |
0.378 |
0.510 |
0.551 |
BN2TR11 |
317,031 |
8,486,238 |
327 |
0.0 |
3.00 |
3.00 |
0.043 |
0.155 |
0.411 |
0.566 |
0.609 |
BN2TR12 |
317,090 |
8,486,212 |
327 |
0.0 |
2.20 |
2.20 |
0.033 |
0.118 |
0.311 |
0.430 |
0.462 |
BN2TR13 |
317,154 |
8,486,184 |
327 |
0.0 |
3.00 |
3.00 |
0.038 |
0.140 |
0.374 |
0.514 |
0.552 |
BN3TR1 |
317,309 |
8,486,198 |
323 |
0.0 |
2.00 |
2.00 |
0.088 |
0.205 |
0.358 |
0.563 |
0.650 |
BN3TR2 |
317,309 |
8,486,063 |
324 |
0.0 |
4.00 |
4.00 |
0.061 |
0.156 |
0.301 |
0.457 |
0.518 |
BN3TR3 |
317,309 |
8,486,109 |
323 |
0.0 |
3.00 |
3.00 |
0.058 |
0.150 |
0.319 |
0.469 |
0.527 |
BN3TR4 |
317,309 |
8,486,159 |
323 |
0.0 |
3.00 |
3.00 |
0.075 |
0.156 |
0.328 |
0.484 |
0.559 |
BN3TR5 |
317,343 |
8,486,178 |
323 |
0.0 |
3.70 |
3.70 |
0.080 |
0.171 |
0.338 |
0.509 |
0.588 |
BN3TR6 |
317,378 |
8,486,156 |
323 |
0.0 |
3.00 |
3.00 |
0.079 |
0.156 |
0.333 |
0.489 |
0.568 |
BN3TR7 |
317,276 |
8,486,216 |
323 |
0.0 |
3.00 |
3.00 |
0.076 |
0.203 |
0.380 |
0.584 |
0.659 |
BN3TR8 |
317,238 |
8,486,238 |
323 |
0.0 |
4.00 |
4.00 |
0.063 |
0.207 |
0.360 |
0.567 |
0.630 |
BN3TR9 |
317,308 |
8,486,242 |
323 |
0.0 |
3.00 |
3.00 |
0.075 |
0.208 |
0.376 |
0.584 |
0.659 |
BN3TR10 |
317,307 |
8,486,292 |
323 |
0.0 |
3.60 |
3.60 |
0.054 |
0.152 |
0.381 |
0.533 |
0.587 |
BN3TR11 |
317,308 |
8,486,345 |
323 |
0.0 |
3.30 |
3.30 |
0.050 |
0.124 |
0.359 |
0.483 |
0.533 |
BN3TR12 |
317,270 |
8,486,175 |
323 |
0.0 |
3.00 |
3.00 |
0.073 |
0.192 |
0.391 |
0.583 |
0.656 |
BN3TR13 |
317,348 |
8,486,221 |
323 |
0.0 |
3.00 |
3.00 |
0.068 |
0.179 |
0.343 |
0.522 |
0.590 |
BN3TR14 |
317,398 |
8,486,248 |
324 |
0.0 |
3.60 |
3.60 |
0.074 |
0.188 |
0.339 |
0.527 |
0.601 |
BN3TR15 |
317,222 |
8,486,147 |
322 |
0.0 |
3.00 |
3.00 |
0.068 |
0.209 |
0.410 |
0.619 |
0.687 |
The Company also performed random sampling around the limit of its ilmenite stockpile (8,700 tonnes of material effective date of
Table 2: Result of 2023 Ilmenite Stockpile Sampling Program
Sample ID |
TiO2 Ranges |
Au |
Pd |
Pt |
Weight Sample |
Pd + Pt |
Pd + Pt +Au |
ppm |
ppm |
ppm |
g |
g/t |
g/t |
||
ILM-PC-001-0001 |
>45%TiO2 |
0.09 |
0.20 |
0.51 |
15.76 |
0.71 |
0.80 |
ILM-PC-001-0002 |
0.10 |
0.21 |
0.54 |
15.68 |
0.75 |
0.85 |
|
ILM-PC-001-0003 |
0.06 |
0.19 |
0.44 |
15.09 |
0.63 |
0.69 |
|
ILM-PC-001-0004 |
0.09 |
0.27 |
0.63 |
15.31 |
0.90 |
0.99 |
|
ILM-PC-001-0005 |
0.07 |
0.25 |
0.52 |
15.59 |
0.77 |
0.84 |
|
ILM-PC-001-0006 |
0.08 |
0.22 |
0.53 |
15.72 |
0.75 |
0.83 |
|
ILM-PC-001-0007 |
0.06 |
0.25 |
0.55 |
15.71 |
0.80 |
0.86 |
|
ILM-PC-001-0008 |
0.08 |
0.20 |
0.46 |
15.40 |
0.66 |
0.74 |
|
ILM-PC-001-0009 |
0.07 |
0.24 |
0.55 |
15.46 |
0.79 |
0.86 |
|
ILM-PC-001-0010 |
0.09 |
0.20 |
0.56 |
15.16 |
0.76 |
0.85 |
|
ILM-PC-001-0011 |
<45%TiO2 |
0.05 |
0.17 |
0.39 |
15.33 |
0.56 |
0.61 |
ILM-PC-001-0012 |
0.10 |
0.21 |
0.53 |
15.76 |
0.74 |
0.84 |
|
ILM-PC-001-0013 |
0.07 |
0.21 |
0.47 |
15.25 |
0.68 |
0.75 |
|
ILM-PC-001-0014 |
0.10 |
0.22 |
0.52 |
15.21 |
0.74 |
0.84 |
|
ILM-PC-001-0015 |
0.07 |
0.20 |
0.54 |
15.33 |
0.74 |
0.81 |
|
ILM-PC-001-0016 |
0.07 |
0.20 |
0.48 |
15.22 |
0.68 |
0.75 |
|
ILM-PC-001-0017 |
0.06 |
0.20 |
0.47 |
15.62 |
0.67 |
0.73 |
|
ILM-PC-001-0018 |
0.05 |
0.19 |
0.43 |
15.59 |
0.62 |
0.67 |
|
ILM-PC-001-0019 |
0.05 |
0.20 |
0.47 |
15.70 |
0.67 |
0.72 |
|
ILM-PC-001-0019 |
0.05 |
0.20 |
0.45 |
15.22 |
0.65 |
0.70 |
|
Minimum |
0.05 |
0.17 |
0.39 |
15.46 |
0.56 |
0.61 |
|
Average |
0.07 |
0.21 |
0.50 |
0.71 |
0.79 |
||
Maximum |
0.10 |
0.27 |
0.63 |
0.9 |
0.99 |
Past Exploration Work Performed: PGMs at the Maracás
Past exploration work was conducted on the Company’s Gulçari A Norte (“GAN”), São José (“SJO”),
Highlighted PGMs Results from Past Exploration Work
- FGA23 – 9.0 metres grading 0.860g Pt/t and 0.410g Pd/t
- FGA43 – 9.0 metres grading 0.108g Pt/t and 0.005g Pd/t
- FGA25 – 9.0 metres grading 0.740g Pt/t and 0.110g Pd/t
Table 3: Past PGM Results of the
Hole - ID |
X |
Y |
Z |
Az |
Dip |
From |
To |
Length |
Pd |
Pt |
Pt+PD |
m |
m |
m |
g/t |
g/t |
g/t |
||||||
FGA10 |
8,486,183.00 |
318,332.00 |
307.01 |
284.00 |
59.00 |
70.50 |
100.00 |
29.50 |
0.06 |
0.44 |
0.50 |
FGA16 |
8,486,071.00 |
318,251.00 |
304.76 |
284.00 |
60.00 |
121.00 |
131.29 |
10.29 |
0.18 |
0.31 |
0.48 |
FGA23 |
8,486,160.00 |
318,236.00 |
314.84 |
108.00 |
78.00 |
46.00 |
55.00 |
9.00 |
0.42 |
0.86 |
1.28 |
FGA25 |
8,486,165.00 |
318,293.00 |
311.13 |
284.00 |
44.00 |
46.00 |
65.00 |
19.00 |
0.11 |
0.74 |
0.85 |
FGA37 |
8,486,098.00 |
318,319.00 |
302.07 |
292.00 |
50.00 |
98.00 |
108.00 |
10.00 |
0.25 |
0.54 |
0.79 |
FGA42 |
8,486,162.00 |
318,390.00 |
295.70 |
284.00 |
60.00 |
105.90 |
116.00 |
10.10 |
0.03 |
0.39 |
0.42 |
FGA43 |
8,486,108.00 |
318,372.00 |
295.71 |
286.00 |
70.00 |
96.00 |
105.00 |
9.00 |
0.05 |
1.08 |
1.13 |
FGA48 |
8,486,058.00 |
318,300.00 |
298.45 |
293.00 |
50.00 |
47.00 |
79.00 |
32.00 |
0.18 |
0.34 |
0.52 |
FGA51 |
8,486,033.00 |
318,355.00 |
298.00 |
296.00 |
50.00 |
124.00 |
136.00 |
12.00 |
0.27 |
0.35 |
0.62 |
FGA54 |
8,486,113.00 |
318,345.00 |
295.93 |
288.00 |
50.00 |
96.00 |
112.00 |
16.00 |
0.21 |
0.26 |
0.47 |
The Company is performing a further review of past drill data with the intention of developing a new database to assess the possibility of the continuity of PGMs in the
Table 4: Past PGM Drill Result Highlights from the
Hole - ID |
X |
Y |
Z |
Az |
Dip |
From |
To |
Length |
Pd |
Pt |
Pt+PD |
m |
m |
m |
g/t |
g/t |
g/t |
||||||
FGAN01 |
318772.29 |
8487089.64 |
310.63 |
270 |
-45 |
218 |
220 |
2 |
0.57 |
0.58 |
1.15 |
FGAN12 |
318622.32 |
8486596.46 |
302.83 |
290 |
-45 |
106 |
109 |
3 |
0.55 |
0.70 |
1.24 |
FGAN06 |
318663.09 |
8486495.13 |
300.57 |
290 |
-45 |
172 |
175 |
3 |
0.45 |
0.45 |
0.91 |
FGAN09 |
318565.79 |
8486377.18 |
297.16 |
270 |
-45 |
89.3 |
90 |
0.7 |
0.16 |
1.84 |
1.99 |
FSJ19 |
318989.24 |
8488478.16 |
322.47 |
290 |
-45 |
66 |
68 |
1 |
0.78 |
0.34 |
1.12 |
FSJ20 |
318960.64 |
8488414.93 |
321.27 |
290 |
-45 |
56 |
57.4 |
1.4 |
0.89 |
0.58 |
1.48 |
FSJ21 |
318998.93 |
8488337.34 |
317.74 |
290 |
-45 |
114 |
115.2 |
1.2 |
0.97 |
0.49 |
1.46 |
FNAN02 |
319951.94 |
8492475.99 |
350.73 |
290 |
-45 |
91 |
93 |
2 |
1.46 |
0.53 |
1.99 |
FNAN12 |
320051.47 |
8492748.08 |
349.85 |
290 |
-45 |
133 |
135 |
2 |
1.38 |
0.69 |
2.07 |
FNAN16 |
319904.35 |
8492353.48 |
349.60 |
290 |
-45 |
92.2 |
94.7 |
2.5 |
2.03 |
0.80 |
2.82 |
Sampling, QA/QC, and Analytical Procedures
The Auger sample developed in 2023 was logged and photographed by the Largo Vanádio Maracás S.A. team. The sample preparation and analytical work was conducted at the SGS facility in
The QAQC program conducted during past exploration work conducted utilized industry and market practices that include certified standards, blanks, rejects and pulp samples.
Review of Technical Information
Mr.
About Largo
Largo is a globally recognized vanadium company known for its high-quality VPURETM and VPURE+TM products, sourced from its Maracás
Largo’s common shares trade on the
Cautionary Statement Regarding Forward-looking Information:
This press release contains "forward-looking information" and "forward-looking statements" (collectively, “forward-looking statements”) within the meaning of applicable Canadian and
The following are some of the assumptions upon which forward-looking statements based: that general business and economic conditions will not change in a material adverse manner; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations; the availability of financing for operations and development; the availability of funding for future capital expenditures; the ability to replace current funding on terms satisfactory to the Company; the ability to mitigate the impact of heavy rainfall; the Company's ability to procure equipment, services and operating supplies in sufficient quantities and on a timely basis; the accuracy of the Company's mine plan at the Maracás
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". All information contained in this news release, other than statements of current and historical fact, is forward looking information. 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 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 www.sedarplus.ca and available on www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. 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. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&A which also apply.
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For further information:
Investor Relations
Senior Manager, External Relations
+1.416.861.9778
aguthrie@largoinc.com
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