History

References to mining at Minas Chanca date back to 1712 during Colonial times. Initially ore was produced by open pit along the Discubriadora vein, which was known for its richness in silver. Spectacular high grade silver in "boyos" (shoots) were exploited. However the most important vein was the Candelaria vein, which during early production reportedly yielded grades of 50 to 75 oz/t of silver.

The District of Oyon, where Chanca is located, has yielded at least 40 million ounces of silver from a swarm of epithermal veins. The area was known for its spectacular bonanza silver grades within rich pockets or "boyas" of ruby silver. The mine has remained unexplored since its closure in the 1980s and has never been drilled. Potential exists to find additional resources along strike and underneath known mined veins as well as within new structures.

More recently a Peruvian mining company worked the mine during the 1970s and 1980s until its closure in 1985. The last available resource calculation* available was by INGEMMET in 1980, who reported a resource of 503,300 t grading 13.42 oz/t Ag, 2.26% Pb ("high grade") and 112,588 t grading 3.86 oz/t Ag, 0.92% Pb ("low grade"). *The reader is cautioned that this resource estimate is historic in nature and is mentioned for information purposes only. The mine is believed to have continued production for several years after this resource estimation and Focus has not completed sufficient work to verify whether this resource exists or was mined or partially mined out. The resource was completed prior to NI 43-101 and as such it cannot be relied upon.