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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (56989)	2/26/2008 4:51:22 PM
From: Rocket Red	Read Replies (1) \| Respond to of 78413

Largo drills 52 m of 0.26% WO3 at Northern Dancer 2008-02-26 16:39 ET - News Release Shares issued 92,581,677 LGO Close 2008-02-25 C$ 0.52 Mr. Mark Brennan reports LARGO INTERSECTS 52 METERS GRADING 0.26% WO3 AND 0.18% MO AT ITS NORTHERN DANCER TUNGSTEN-MOLYBDENUM PROJECT, YUKON Largo Resources Ltd. has received results for 10 drill holes totalling 1,875 samples, which is part of the recently completed drill program of 26 holes totalling 8,494 metres at the company's 1,500-hectare Northern Dancer tungsten-molybdenum property, which straddles the Yukon-British Colombia border, 290 kilometres east of Whitehorse. Largo has now received results for 24 holes totalling 4,934 samples at this time. Assays are still pending on the two remaining holes. Work is now focused on modelling and on updating the resource, which is due to be completed in the first quarter. The drill program focused on upgrading and expanding the current mineral resource of 242 million tonnes, grading 0.10 per cent WO3 and 0.047 per cent MoS2, including 36.8 million tonnes grading 0.085 per cent MoS2 (reported in Stockwatch on April 2, 2007), as well as on further defining the higher-grade tungsten and molybdenum zones. Note that WO3 is tungsten scheelite and MoS2 is molybdenite grade. Preliminary pit modelling was done in order to help maximize the effectiveness of the drill program. Significant highlights include: LT07-89 -- 52.00 metres grading 0.26 per cent WO3 and 0.18 per cent Mo; LT07-85 -- 16.10 metres grading 0.23 per cent WO3 and 0.02 per cent Mo, and 88.50 metres grading 0.15 per cent WO3 and 0.05 per cent Mo; LT07-96 -- 250 metres grading 0.11 per cent WO3 and 0.05 per cent Mo, including 44.90 metres grading 0.14 per cent WO3 and 0.05 per cent Mo; LT07-95 -- 164 metres grading 0.14 per cent WO3 and 0.03 per cent Mo, and 26 metres grading 0.24 per cent WO3 and 0.04 per cent Mo. The drilling has now tested the porphyry-style mineralization along strike for one kilometre to a vertical depth of 500 metres and the zone ranges in width from 50 metres to 437 metres. The deposit remains open along strike and to depth. The mineralization consists of several generations of numerous quartz veins and veinlets crosscutting the various rock types within the limits of the northeast-trending structural zone. These veins and veinlets contain varying amounts of scheelite and molybdenite. Andy Campbell, vice-president, exploration at Largo Resources, commented: "The drill program has been successful at achieving its goals of further defining the higher-grade tungsten and molybdenum zones. Recent results continue to be very encouraging, with all 10 holes reporting good grades at or above deposit grade over wide widths of mineralization, including three holes that have exceptional widths." The Northern Dancer property hosts widespread tungsten-molybdenum porphyry-style mineralization, the core of which has been partially delineated by 68 diamond drill holes and 496 metres of underground workings. Work to date has been completed by Amax Minerals Exploration from 1977 to 1980 and by Largo Resources, which completed a 17-hole diamond drill program in 2006. As reported in Stockwatch on April 2, 2007, Largo announced an NI 43-101-compliant inferred mineral resource of 242 million tonnes grading 0.10 per cent WO3 and 0.047 per cent MoS2, containing 508.1 million pounds tungsten and 151 million pounds molybdenum, confirming Northern Dancer as one of the largest undeveloped tungsten-molybdenum deposits in the world. This resource includes a higher-grade Mo zone of 36.8 million tonnes at 0.085 per cent MoS2. Please refer to the attached table for a summary of the drill results. Largo's website has the Northern Dancer 2007 drilling plan map, which provides a reference for the location of these holes on the property. The Northern Dancer deposit is one of the world's largest known tungsten-molybdenum porphyry systems. The mineralization is hosted in fractures and veins associated with a northeast-trending sheeted vein system in calc-silicate (skarn) rocks and spatially related to a felsic intrusion (quartz-feldspar porphyry). The deposit, which has been tested by drilling for 1,000 metres along strike, 500 metres vertically and 600 metres in width, remains open along strike to both the northeast and southwest as well as at depth. Tungsten and molybdenum mineralization are concentrated in two zones which partially overlap. In the core of the deposit, there is a higher-grade molybdenum zone where molybdenite occurs within and adjacent to the felsic intrusion. Surrounding and partially overlapping the molybdenum zone is a much more extensive tungsten zone where scheelite occurs in northeast-trending sheeted quartz veins in skarn. Analytical work is being carried out at Acme Analytical Laboratories Ltd. in Vancouver, B.C., an ISO 9001-2000-certified laboratory. The samples are crushed to 70 per cent passing 10 mesh, split to 250 grams and pulverized to 95 per cent passing 150 mesh. A five-gram split is analyzed for Mo and W, using a phosphoric acid leach, followed by ICP-emission spectrometry. Then a second five-gram split is analyzed for 36 elements by ICP-mass spectrometry using a hot (95 C) aqua regia leach. Routine check assays are performed at SGS Minerals in Lakefield, Ont., on sample rejects. Largo employs a systematic QA/QC program, including standards, duplicates and blanks. Mr. Campbell, PGeo, Largo's vice-president of exploration, is the qualified person responsible for the scientific and technical work for the program as defined under National Instrument 43-101, and has reviewed this press release. NORTHERN DANCER ASSAY RESULTS Hole From To WO3 Mo Interval No. (m) (m) (%) (%) (m) LT07-71 47.70 92.10 0.10 0.01 44.40 and 153.90 196.20 0.10 0.01 42.30 and 212.00 222.00 0.15 0.05 10.00 including 253.60 322.00 0.09 0.02 68.40 LT07-82 198.00 218.00 0.11 0.01 20.00 and 238.00 333.00 0.12 0.02 95.00 and 374.00 433.30 0.12 0.02 59.30 LT07-84 0.00 29.00 0.09 0.02 29.00 and 102.00 121.70 0.12 0.04 19.70 and 180.00 222.00 0.13 0.05 42.00 LT07-85 26.70 65.90 0.12 0.02 39.20 and 97.00 113.10 0.23 0.02 16.10 and 223.90 246.00 0.11 0.04 22.10 and 291.40 379.90 0.15 0.05 88.50 LT07-86 3.00 34.00 0.11 0.02 31.00 and 67.00 107.50 0.11 0.02 40.50 and 178.00 210.80 0.09 0.02 32.80 LT07-87 77.00 107.00 0.12 0.03 30.00 and 119.00 170.00 0.12 0.03 51.00 and 183.00 230.50 0.14 0.02 47.50 LT07-89 9.10 29.00 0.10 0.01 19.90 and 112.00 156.50 0.16 0.03 44.50 and 191.00 243.00 0.26 0.18 52.00 and 280.00 331.00 0.14 0.02 51.00 and 339.60 384.40 0.14 0.02 44.80 LT07-92 277.00 293.00 0.14 0.05 16.00 and 323.00 438.00 0.11 0.03 155.00 LT07-95 0.00 164.00 0.14 0.03 164.00 including 132.00 158.00 0.24 0.04 26.00 LT07-96 24.00 48.20 0.13 0.02 24.20 and 80.00 98.90 0.10 0.02 18.90 and 137.80 387.80 0.11 0.05 250.00 including 137.80 179.10 0.16 0.03 41.30 including 231.10 276.00 0.14 0.05 44.90 including 319.50 379.30 0.15 0.04 59.80 We seek Safe Harbor.