Largo Resources is conducting an 11,000-m drilling program at the Maracas vanadium project, located 250 km southwest of Salvador, the capital of Bahia state, Brazil, where ongoing ground exploration has identified several high-priority targets. Toronto, Ontario-based Largo has a 90% interest in the project. The drilling is scheduled for completion over a period of nine to 12 months and has a goal of doubling the project’s existing mineral resource.
Maracas currently has an estimated 13.1- million mt of NI 43-101 compliant mineral reserves, grading 1.34% vanadium pentoxide, including 8.7 million mt, grading 1.94% vanadium pentoxide, all in the Glucari “A” deposit. A portion of the 2011 drill program will be aimed at expanding the Glucari “A” resource and other known showings in the immediate vicinity of the deposit. The program will also target several similar occurrences identified by ground exploration and a magnetic survey along Largo’s land position, which stretches more than 40 km along strike.