|June 16, 2014|
Focus Reports Further Phosphate Drill Assays at Bayovar 12, Peru
|June 16, 2014; Focus Ventures Ltd. is pleased to provide assay results from a second batch of 6 holes drilled at the Bayovar 12 phosphate project near Piura, northern Peru. Assays have been received for holes JPQ-14-14, 14-12, 14-04, 14-10 and 14-11, drilled along a west to east section and 800m south of the first section reported previously (see press release May 20, 2014).|
The new holes all intersected the same sequence of phosphate beds and highlight the remarkable consistency and continuity of the geology and phosphate mineralization over long distances. Highlights of the holes, spanning a 3.2 km section line (Section 2) are:
Additional assays were also received for hole JPQ-14-15 drilled 800m to the west of hole JPQ-14-06 along Section 1 (reported May 20, 2014) demonstrating continuity of the phosphate beds for a further 800m west for a total of 4 kilometers with grades and thicknesses in line with adjacent holes.
David Cass, the President of Focus, said: "These latest results are remarkably similar to the initial results we published, underlining the extraordinary regularity in the geology and grade of the phosphate beds across these initial two drill sections. The average grade of the top 5 beds, which we believe are the same as those currently being mined by Vale, in our first drill section is 16.9% P2O5, and 15.9% in Section 2 some 800m south. We're seeing an average grade across all 11 beds of 14.8% P2O5 in Section 2, and with the new results for JPQ-14-15 included, Section 1 averages 14.9% P2O5 over a distance of 4km. This consistency, despite the wide drill spacings, should make the upcoming resource calculation relatively straight forward. We continue to be encouraged by the shallower depth of the beds from surface in the eastern part of the drill grid."
A drill collar plan with geological cross sections, updated results tables and full set of assays are posted on Focus's website www.focusventuresltd.com. Cross sections 1 and 2 are shown below.
Holes were drilled vertically to between 80m - 110m depth targeting horizontal phosphate beds within the Diana Formation, a sequence of phosphoric diatomites and sandstones approximately 40 metres thick. The phosphate beds comprise up to 40% apatite pellets, ooliths and fossil debris consisting of mainly fish teeth, bones and scales representing the remains of marine organisms that accumulated on the sea floor. Flat-lying deposits such as sedimentary phosphates and other bulk commodities such as bauxite and gypsum may be amenable to precision mechanized strip mining using surface miners, which can efficiently mine beds down to as little as 10cm in thickness.
Summary Table showing Assays of Main Phosphate Beds for Holes JPQ 14-14, 12, 04, 10, 11 (Section 2)
Numerals in italics denote weighted composites
Additional drill hole results will be published shortly once all assays from the next full section line have been received.
Sampling Quality Analysis and Quality Control
Logging and sampling are undertaken at site in Bayovar under a QA/QC protocol developed by Focus in conjunction with Golder Associates. Due to the friable nature of the diatomite, the core cannot be split by diamond saw or mechanical splitter, and has to be split by hand. Once logged and sampled, the core is bagged and transported in sealed plastic drums by Focus personnel to Certimin laboratories in Lima for analysis. Phosphorous (P205) is determined by gravimetric methods. Major oxides are determined by ICPOES and silica by gravimetric analysis. Certimin is an affiliated ISO 9001 laboratory and uses standards for phosphate and silica from the Association of Fertilizer and Phosphate Chemists. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by Focus's QA/QC program which involves the insertion by Focus personnel of blind certified standards, blanks and core duplicates into the sample stream at regular intervals in order to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory.
The Bayovar 12 concession shows potential to host a large sedimentary phosphate deposit. The Bayovar district is situated in the Sechura Desert, a north-trending basin approximately 22,000 square kilometres in area comprising Miocene-aged sedimentary rocks. Phosphate was discovered in the 1950s during drilling for petroleum. It occurs as beds of pelletal phosphate within the Zapallal formation, a thick sequence of diatomites and sandstones. The phosphate layers are remarkably regular in P2O5 content over long distances, a typical characteristic of marine phosphate deposits. At Vale's Bayovar mine, the soft and friable nature of the phosphate rock and diatomite permits mining by conventional truck and shovel without the use of explosives.
On January 14, 2014, the Company's Peruvian subsidiary, Agrifos Peru SAC, signed a formal option agreement for the acquisition of shares in Juan Paulo Quay SAC, the titleholder of the Bayovar 12 non-metallic mining concession. Agrifos can earn a 70 per cent interest of the issued share capital of JPQ by investing in exploration and making a series of cash payments up to the completion of a positive prefeasibility study, after which Agrifos will have the first right of refusal to purchase the remaining 30 per cent of JPQ.
The scientific and technical information in this release were prepared under the supervision of David Cass, Focus's President, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a Qualified Person in accordance with National Instrument 43-101.
Phosphate rock is a raw material for fertilizers and vital to world food production. Focus is acquiring and developing quality phosphate projects in Latin America where the discovery and development of new deposits is becoming increasingly important given the growing demand and limited local supply of phosphate for fertilizer production. For further information, please call 604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Director & Vice-President, Corporate Development
Contact: Ralph Rushton
Tel: (604) 630-5544; Fax: (604) 682-1514
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release may include certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration and development results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the documents filed by the Company from time to time on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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