Focus Receives First Drill Assays from Bayovar 12; Contracts Golder Associates for Initial Resource Calculation
May 20 2014 - 7:30AM
Marketwired
Focus Receives First Drill Assays from Bayovar 12; Contracts Golder
Associates for Initial Resource Calculation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2014) -
Focus Ventures Ltd. (TSX-VENTURE:FCV) is pleased to provide assay
results for the first 5 holes logged and assayed at the Bayovar 12
phosphate project near Piura, northern Peru. Assays have been
received for holes JPQ-14-06, 14-01, 14-03, 14-08 and 14-13 drilled
on 800m spacings along the northern part of the drill grid. The
holes are being logged, split and sampled in a designated order to
allow construction of coherent geological cross sections. Similar
geology and mineralization was observed in all holes. Highlights of
the first 5 holes, spanning a 3.2km section line, are:
- Between 13 and 18 horizontal phosphate beds logged in each hole
with at least 10 beds ("main beds") with an average thicknesses of
around 0.4m or greater, with individual beds up to 1.35m
thick.
- Average grade of all the main beds calculated over all 5 holes
is 15.1% P2O5, ranging from 11.1% to 20.3% P2O5 per bed.
- Individual samples assayed up to 29.1% P2O5. The average
thickness of the main beds is 0.53m.
- Phosphate beds occur less than 28m below surface in JPQ-14-13
and could be shallowing further to the east.
- No faulting or structural features were observed affecting the
beds, allowing for easy mapping of individual beds from hole to
hole.
A drill collar plan, geological cross sections and full assay
results are posted on Focus' website www.focusventuresltd.com. A
cross section is also given below.
David Cass, the President of Focus, said: "These initial results
are exactly what we had anticipated, and the fact that the beds are
closer to surface in the eastern part of the grid makes this area a
high priority for infill drilling and expansion. We've cut the same
multiple phosphate beds in each hole with good, consistent P2O5
grades that can be easily correlated between these initial widely
spaced holes. The grades are in line with the existing world-class
phosphate resources at Vale's Bayovar mine, which is 15km away from
our project, and Hochschild's Fospac project. We're confident that
this first phase of drilling will lead to maiden resource
estimation in Q3 and we've retained Golder Associates to complete
the resource work once we have the full set of drill results."
For comparison, Vale's most recent resource estimation (Source:
Vale Annual Report, 2013) for its Bayovar Mine quotes Proven and
Probable reserves of 415.9 million dry metric tonnes at 15.5%
P2O5.
Each hole was drilled vertically to around 100m depth targeting
horizontal phosphate beds within the Diana Formation, a sequence of
phosphoric diatomites and sandstones approximately 40 metres thick.
The depth from surface to the first phosphate seam varies from
55.1m in JPQ-14-06 in the west to 27.7m in JPQ-14-13 in the east
due to the lower elevation. The phosphate beds comprise up to 40%
apatite pellets, ooliths and fossil debris consisting of mainly
fish teeth, bones and scales. The flat dip of the beds, continuous
widths and consistent grades make this style of sedimentary
phosphate deposit amenable to precision mechanized strip mining
using surface miners.
Summary Table
showing Assays of Main Phosphate Beds (refer also to cross section
below)
MAIN BEDS |
Average width (m) |
Average grade % P2O5 |
Hole JPQ-14-06 |
Hole JPQ-14-01 |
Hole JPQ-14-03 |
Hole JPQ-14-08 |
Hole JPQ-14-13 |
Width (m) |
% P2O5 |
Width (m) |
% P2O5 |
Width (m) |
% P2O5 |
Width (m) |
% P2O5 |
Width (m) |
% P2O5 |
1 |
0.43 |
14.4 |
0.19 |
17.45 |
0.4 |
16.16 |
0.25 |
15.67 |
0.62 |
13.71 |
0.7 |
12.63 |
2 |
0.72 |
14.6 |
0.52 |
16.22 |
0.5 |
16.91 |
0.83 |
13.99 |
0.57 |
15.27 |
0.95 |
12.47 |
3 |
0.51 |
20.3 |
0.57 |
21.78 |
0.43 |
19.0 |
0.5 |
19.87 |
0.4 |
19.22 |
0.63 |
20.75 |
3A |
0.37 |
19.7 |
0.35 |
19.25 |
0.3 |
17.3 |
0.15 |
16.05 |
0.56 |
19.72 |
0.51 |
22.43 |
4 |
0.52 |
11.1 |
0.48 |
10.14 |
0.5 |
10.62 |
0.63 |
10.87 |
0.57 |
11.74 |
0.44 |
12.07 |
5 |
0.58 |
13.3 |
0.73 |
12.15 |
0.8 |
12.58 |
0.45 |
12.17 |
0.43 |
14.54 |
0.5 |
16.07 |
6 |
0.44 |
13.3 |
- |
- |
0.28 |
16.5 |
0.7 |
12.65 |
0.62 |
11.93 |
0.16 |
15.82 |
6A |
0.38 |
15.3 |
0.22 |
14.1 |
0.5 |
15.01 |
0.43 |
12.58 |
0.26 |
17.03 |
0.32 |
18.72 |
7 |
0.41 |
16.4 |
0.61 |
16.23 |
0.26 |
17.67 |
0.46 |
15.43 |
0.41 |
15.12 |
0.32 |
18.47 |
8 |
0.94 |
14.8 |
0.43 |
19.88 |
1.3 |
14.46 |
1.23 |
12.63 |
1.35 |
13.59 |
0.38 |
20.34 |
Av. |
0.53m |
15.1% |
|
|
|
|
|
|
|
|
|
Numerals in italics denote weighted
composites |
Focus' drilling has also identified disseminated phosphate in
the diatomite interbeds that, when combined with the high grade
beds, show significant intervals of low grade phosphate in each of
the 5 holes. Intervals measuring between 28.2m and 36.7m grading
4.3% to 5.8% P2O5 were drilled. For example, Hole JPQ-14-13
returned a weighted average grade of 4.9% P2O5 over a total width
of 34.5m starting at 37.9m downhole. These results are tabulated
below.
Hole No. |
Interval (m) |
%P2O5 |
From (m) |
To (m) |
JPQ-14-06 |
36.8 |
4.3 |
64.0 |
100.8 |
JPQ-14-01 |
28.3 |
5.8 |
69.8 |
98.1 |
JPQ-14-03 |
30.9 |
5.3 |
61.3 |
92.2 |
JPQ-14-08 |
32.3 |
4.8 |
39.6 |
71.9 |
JPQ-14-13 |
34.5 |
4.9 |
37.9 |
72.4 |
The potential economic significance of these broad lower grade
P2O5 beds will be investigated as part of Focus' ongoing
exploration.
Additional drill results will be released upon receipt of
further sections. A resource definition drill program will be
prepared by the Company, with Golder's input, to commence by third
quarter this year.
Sampling Quality Analysis and Quality Control
Logging and sampling is undertaken at site in Bayovar under a
QA/QC protocol developed by Focus. 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 pentoxide (P2O5) and silica are determined by
gravimetric methods. Major oxides are determined by ICP-OES.
Certimin is a certified ISO 9001 laboratory and use 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' 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.
To view the cross section accompanying this press release,
please visit the following link:
http://media3.marketwire.com/docs/946709.png
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.
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 web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Ralph Rushton, Director & Vice-President, Corporate
Development
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking
Statement
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Focus Ventures Ltd. Actual
results may differ materially from those currently anticipated in
such statement.
Focus Ventures Ltd.Ralph RushtonDirector & Vice-President,
Corporate Development(604) 630-5544(604)
682-1514info@focusventuresltd.comwww.focusventuresltd.com
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