VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 16, 2014) - Focus Ventures Ltd. (TSX VENTURE:FCV) 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:
- Up to 18 individual phosphate beds in each hole, with the average width of 11 main beds varying between 0.3m - 1.2m over all 5 holes, and averaging 0.54m overall
- Individual beds up to 1.55m thick (JPQ-14-04 13.7% P2O5 from 87.1m - 88.65m)
- Average grade of all the main beds over all 5 holes is 14.8% P2O5, with individual beds averaging 10.4% to 20.8% P2O5 over the holes
- Phosphate beds occur less than 26m below surface in JPQ-14-11 drilled furthest east and confirm the shallowing of the beds as previously reported in JPQ-14-13 located 800m to the north
- No faulting or structural features were observed affecting the beds, allowing for easy correlation of individual beds hole to hole
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)
| |
Averages All Holes |
JPQ-14-14 |
JPQ-14-12 |
JPQ-14-04 |
JPQ-14-10 |
JPQ-14-11 |
MAIN
BEDS |
Width
(m) |
%
P205 |
Width |
%
P205 |
Width |
%
P205 |
Width |
%
P205 |
Width |
%
P205 |
Width |
%
P205 |
| 1 |
0.45 |
14.2 |
0.25 |
18.87 |
0.53 |
13.87 |
0.44 |
12.15 |
0.64 |
13.54 |
0.38 |
15.12 |
| 2 |
0.72 |
12.9 |
0.72 |
13.81 |
0.9 |
12.58 |
0.95 |
11.58 |
0.58 |
13.28 |
0.45 |
14.49 |
| 3 |
0.54 |
20.8 |
0.51 |
20.94 |
0.51 |
20.85 |
0.65 |
20.55 |
0.41 |
23.36 |
0.6 |
19.04 |
| 4 |
0.30 |
15.5 |
0.45 |
13.77 |
0.19 |
15.48 |
0.23 |
15.82 |
0.14 |
20.66 |
0.5 |
11 |
| 6 |
0.48 |
16.9 |
0.4 |
17.74 |
0.41 |
18.8 |
0.44 |
18.14 |
0.46 |
17.13 |
0.69 |
14.29 |
| 7 |
0.57 |
10.8 |
0.54 |
11.17 |
0.5 |
10.51 |
0.78 |
10.48 |
0.61 |
10.78 |
0.42 |
11.04 |
| 9 |
0.46 |
14.3 |
0.51 |
13.12 |
0.4 |
14.06 |
0.3 |
16.92 |
0.51 |
14.14 |
0.56 |
14.46 |
| 10 |
0.40 |
10.4 |
0.44 |
9.44 |
0.67 |
10.83 |
0.12 |
11.52 |
0.52 |
10.41 |
0.26 |
12.91 |
| 11 |
0.36 |
16.6 |
0.27 |
17.38 |
0.35 |
16.39 |
0.42 |
16.6 |
0.41 |
15.93 |
0.34 |
17.09 |
| 12 |
0.46 |
16.4 |
0.34 |
19.32 |
0.25 |
16.83 |
0.74 |
15.34 |
0.35 |
18.01 |
0.6 |
15.12 |
| 13 |
1.21 |
14.7 |
1.15 |
16.1 |
1.13 |
16.2 |
1.55 |
13.72 |
1.49 |
14.1 |
0.71 |
13.13 |
| Average |
0.54 |
14.8 |
|
|
|
|
|
|
|
|
|
|
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.
Background
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.
To view Figures 1 & 2, please visit the following link: http://media3.marketwire.com/docs/952065_F1-2.pdf.
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.
Qualified Person
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.
About Focus
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 website www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Ralph Rushton, Director & Vice-President, Corporate Development
Symbol: (TSX VENTURE:FCV)
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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