Geophysical Survey in Peru Outlines Potential Size of the Aurora Porphyry Cu-Mo Target
VANCOUVER, Jan. 16, 2013 /PRNewswire/ – Focus Ventures Ltd. (TSXV: 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
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
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.
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
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Canada accepts responsibility for the adequacy or accuracy of this
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.