|October 27, 2014|
Focus Files NI 43-101 Technical Report on Bayovar 12
|October 27, 2014; Vancouver, Canada: Focus Ventures Ltd. (FCV.V "Focus") is pleased to announce that it has filed the NI 43-101 Mineral Resource Technical Report on the Bayovar 12 Phosphate Project, Piura Region, Peru, on www.sedar.com and on the Company website www.focusventuresltd.com.|
The report, prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 was prepared by Golder Associates, under the supervision of Jerry DeWolfe, MSc. P.Geo, an Independent Qualified Person defined under National Instrument 43-101. The report provides detail on the Company's maiden resource estimate announced September 8, 2014.
* In-Situ Resource, no minimum thickness applied. Wet Density: 1.65 g/cm3 Dry Density: 1.25 g/cm3 Dry tonnage resources are included in the wet tonnage resources. The independent estimate and report, based on Focus' initial 20-hole drill program, was prepared by GolderAssociates supervised by Jerry DeWolfe, MSc. P.Geo, and an Independent Qualified Person responsible under NI 43-101.
The resource estimate is based on 20 boreholes (2,027m) drilled over 650 ha of the 12,575 ha property, at drill spacings of 800m. The resources are distributed between 13 individual soft, free digging, horizontal phosphate beds hosted within the Diana Formation, a sequence of diatomites that begin as shallow as 26m below surface. The mineralization is open in all directions. The grades and widths of individual beds are very consistent, unaffected by faulting or structural features, and easily correlated across the deposit. Vale is believed to be mining the same beds at their Bayovar Mine 15km to the west of Bayovar 12.
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.
The Resource Estimation was prepared by Golder Associates, under the supervision of Jerry DeWolfe, MSc. P.Geo, an Independent Qualified Person defined under 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
David Cass, President
Shares Issued: 76.8-million
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.
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Company's Bayovar 12 property. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile 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 materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and planned exploration and development activities for the Bayovar 12 project will be achieved; and that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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