|January 16, 2013|
Geophysical Survey in Peru Outlines Potential Size of the Aurora Porphyry Cu-Mo Target
|January 16, 2013; Vancouver, Canada: Focus Ventures Ltd. (TSX-V: FCV) is pleased to announce that it has received initial results from a geophysical survey undertaken by Fugro Geophysics Pty Ltd at its Aurora Cu-Mo project located in the Department of Cusco, southeastern Peru. |
The results of the survey support Focus's interpretation that the Aurora mineralizing system extends well beyond the limits of the historical drilling and could contain a large porphyry copper molybdenum deposit. The project now requires grid drilling for resource definition. Focus has signed confidentiality agreements with several companies interested in participating in the drilling. Sections and plans are available on the Company website www.focusventuresltd.com.
Strong chargeability and resistivity anomalies up to 2km x 1.4km in area remain open to the northwest and southeast, coincident with outcropping coarse grained porphyritic intrusive rocks and overlying zones of mineralized hornfels. The anomaly is defined by strong chargeability readings from 30 mV/V to over 70 mV/V and resistivity lows from 0 - 300 ohm/m commencing between 100m - 150m below surface and coincident with the start of the disseminated copper and molybdenum sulphide mineralization seen in the historic drill holes, for example hole DDA-1.
Thirteen holes drilled in 1999 and 2005 cut significant intervals of Cu and Mo mineralization, including 190m @ 0.57% Cu and 0.008% Mo in DDA-1, and 71.7m @ 0.7% Cu and 0.007% Mo in DDA-3A (see Focus news release July 11, 2012). Several of the holes were stopped in strong mineralization but did not penetrate the thick, higher grade mineralized zone drilled in hole DDA-1.
The stronger molybdenum values seen at deeper elevations in a number of historic holes could indicate a deep molybdenum-rich core below the copper zone. For example, ABC 6 which assayed 302.4m @ 0.235 Cu and 0.082% Mo, including 84m @ 0.42% Cu and 0.106% Mo (0.95% Cu.Eq*).
A total of 43.8 line kilometers of Induced Polarization and Magnetics surveying were completed. Two-thirds of the survey were completed using IP3D method with offset pole-dipole at 100m spacings, and a more traditional 2D IP method at smaller 50m dipole spacings was undertaken in the northeast part of the grid over the main area of drilling due to difficulties with signal penetration with the 3D method. As a result, depth penetration of more than 250m could not be achieved in the area of the main porphyry mineralization.
The property is located between 2,600 - 2,900m above sea level on the north-eastern margin of the prolific Yauri-Andahuylas Porphyry Belt in the Department of Cusco, host to several important copper and copper-gold deposits including Las Bambas, Huaquira, Constancia, Tintaya and Antapaccay mines. Access to the project has improved as local roads are upgraded and sealed. Local infrastructure is likely to improve further following the recent approval of the Camisea Gas Pipeline by the Peruvian government. The pipeline will be completed within 3 years and pass within 20 km of the project.
Drilling in 2001 and 2006 (13 holes) confirmed significant intercepts in copper and molybdenum over an area 1,000m x 600m (see Focus news release dated July 11, 2012). Disseminated and veinlet copper and molybdenum sulphide mineralization are hosted by coarse grained multi-phase granitic intrusives phases and hornfelsed slate country rocks.
Focus has signed a contract with SVS Ingenieros S.A.C. (a division of SRK Consulting) who have commenced environmental studies and permitting for a drill program. The permitting process is expected to take between 4 and 6 months before drilling can commence.
* Copper equivalent grades (Cu Eq.) were calculated using $3.00/lb Cu and $15/lb Molybdenum (1:5 conversion ratio) and assumes 100% metallurgical recoveries. Focus has not fully verified the quality and accuracy of the historic drill assay results, which were obtained from third party sources and data files, but are believed to be reliable based on limited review of available drill cores and past public company filings.
Mr. David Cass, Focus's President, is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a "Qualified Person" in accordance with NI 43-101. Mr. Cass has reviewed and approved the technical information in this release.
About Focus Ventures
Focus Ventures is acquiring advanced, drill-ready projects in Peru and Mexico. Backed by an experienced technical team of geologists and consultants, Focus's strategy is to identify and acquire former producing mines or untested gold and silver and base metal properties that show potential to become new mines. For further information, please call 604-688-5288 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
David Cass, President
Shares Issued: 40.1-million
Contact: Jaclyn Ruptash
Tel: (604) 688-5288; Fax: (604) 682-1514
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.
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