Focus Acquires Second Phosphate Project in Peru
VANCOUVER, Aug. 23, 2012 /PRNewswire/ – Focus Ventures Ltd. (TSX-V: FCV) is
pleased to announce the acquisition of the Quebranta phosphate project
located in the Ocucaje region approximately 300km south of Lima along
the coastal desert some 30km from tidewater.
The project consists of 27,000 hectares acquired by direct staking. An
additional 450 hectares were acquired under an option agreement signed
with a local company and Agrifos Peru S.A.C (a subsidiary of Focus)
where Agrifos can acquire 100% of the property by paying $200,000 over
3 years and granting a 1% Nets Profit Royalty on future production to
The phosphate mineralization at Quebranta is of marine sedimentary
origin and is hosted within a sequence of Miocene sediments (Pisco
Formation) comprising predominately diatomite with tuff and mudstone
intercalations. Sampling of phosphatic sandstone units assayed from
trace up to 16.5% P(2)O(5. )The geological setting and stratigraphy is analogous to the Sechura
region, northern Peru that hosts Vale’s Bayovar Mine, an operating open
pit mine and one of the biggest phosphate rock mines in the Americas
with a reserve base of 247 MT and capable of producing 3.9Mt of
phosphate concentrate per annum.
The Ocucaje region is poorly explored for phosphates although several
old reports from the 1950′s and 60′s note the presence of phosphate
mineralization with assays of up to 31.8% P(2)O(5). The planned work program includes regional and local scale mapping,
trenching and drilling.
The Quebranta project is Focus’ second Peruvian phosphate acquisition in
addition to the Machay project located in central Peru where the
company is developing a large district scale land package covering key
phosphate bearing units with individual assays from trace up to 11.4 P(2)O(5) (see http://www.focusventuresltd.com/s/Machay.asp).
Phosphate is a key raw material for chemical fertilizers. Given the
current global food crisis due to the world’s growing population and
economic development, demand for worldwide fertilizers is expected to
grow. Meeting future demand for phosphates will remain problematic due
to the scarcity of resources, particularly in the Americas, and given
the small number of producing countries.
Approximately 75% of global phosphate resources are from marine
sedimentary phosphate deposits. As these deposits are syngenetic,
formed by the accumulation of organic debris on an ancient sea floor,
they tend to cover large areas and are relatively consistent in grade
and thickness. This type of mineralization is typically amenable to
beneficiation with good recoveries to produce marketable concentrate
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 developing a diversified portfolio of quality silver,
gold, copper and phosphate properties 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.
Focus Ventures is dedicated to the discovery and definition of quality
mineral resources in Peru and that show potential to become new mines.
ON BEHALF OF THE BOARD
David Cass, President
Shares Issued: 36.4-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
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.
SOURCE Focus Ventures Ltd.