Focus Acquires High-Grade Silver-Lead-Zinc Project in Peru; Samples up to 107 oz/t Ag, 11.7% Pb, 11.8% Zn over 0.7m
to announce that it has signed an Option and Purchase Agreement to
acquire the Santa Rosa Mine, a high-grade Ag-Zn-Pb deposit located
100km north of the Peruvian capital,
Minas Chanca silver project.
The 551 hectare property is situated at an altitude of between 4,000m
and 4,500m above sea level within the prolific
Polymetallic Belt, which hosts a number of world class silver, lead and
zinc deposits such as Iscay Cruz, Uchucchagua and
Santa Rosa project represents the Company’s fourth acquisition in its
on-going search for high-potential, advanced-stage projects across
located in the La Libertad mining district.
Focus’ geologists collected a total of 139 chip channel samples from
surface and underground workings over various mineralized zones within
the property consisting of vein, stockwork and breccia mineralization.
Sampling highlights include:
|Area||Sample #||Width (m)||Ag oz/t||Pb %||Zn %||Ag Eq. g/t**|
|Veta Yanapata||23333, 34*||1.7||10.7||20.4||3.7||30.9|
|Area||Sample #||Width (m)||Ag oz/t||Pb %||Zn %||Ag Eq. g/t**|
|Santa Rosa||21078, 79*||1.45||5.3||6.3||21.9||28.9|
|21093, 94, 95*||4.3||0.7||1.3||9.4||9.6|
|21064, 65, 66*||3.8||1.5||1.9||5.3||7.6|
|21067, 68, 69*||2.6||2.5||4.7||10.0||14.8|
|Milagros -Sally||23302, 03*||4.0||3.5||4.7||9.8||15.6|
|23304, 05, 06, 07*||4.4||2.0||2.5||5.3||8.5|
* Contiguous samples were combined and weighted average grades calculated.
**Ag Eq. calculated grades based on
The average grade of silver was 7.6 oz/t, with values from trace to
107.4 oz/t (median value 2.1 oz/t). Lead and zinc averaged 5.5% and
7.3% respectively, with lead values ranging from trace to 28% (median
value 1.9%) and zinc grades ranging from trace to 36.6% (median value
5.2%). Average sample width of the 139 samples was 1.03m, ranging from
0.2 to 3.5m.
Geology and Mineralization
Mineralization at Santa Rosa is hosted by Cretaceous-age quartzites,
sandstones, shales and limestones pertaining to the Chimu and Santa
Formations, and Tertiary volcanic rocks of the Calipuy Formation. The
rocks have undergone several episodes of faulting and associated
precious and base metal mineralization. At least 2 styles of
mineralization are recognized at Santa Rosa:
(i) Stockworks, breccias and associated massive sulphide veins
The Santa Rosa and Milagros-Sally zones are exposed in underground
workings over 2 levels as broad zones of stockwork, massive sulphide
and breccia-hosted Mineralization emplaced within steeply dipping and
brecciated quartzites and shales that exhibit a strong structural
control. The zones are interpreted as chimneys or pipes developed along
the intersection of several faults. Multi-directional stockwork
mineralization forms broad northeast trending zones with preferential
dips to the southeast and northwest.
The Milagros-Sally mineralized zone is located approximately 100m to the
south of Santa Rosa, and consists of galena and sphalerite stockwork
veining over two levels, with broad channel sample intercepts of up to
4m (see above table.) The property underwent some small scale
production in 2008, when 2,233t of ore grading 6 oz/t Ag, 8.75% Zn and
6.6% Pb was mined exclusively from the Santa Rosa and Milagros zones.
Although the Santa Rosa and Milagros-Sally mineralization does not
manifest in outcrop, surface rocks are characterized by strong
manganese and hematitic alteration that could indicate a high level
“cap” to the sulphide stockworks and veins observed in underground
workings. Zones of surface alteration and anomalous geochemistry have
been traced along trend of the Santa Rosa and Milagros-Sally zones, and
similar alteration has been identified in other areas of the property,
Oxidos located 430m northwest of Santa Rosa. Five surface samples taken
Zona Oxidos highly anomalous Mn was received with up to 1% combined Pb
and Zn in surface samples. These areas represent additional high
priority targets for geophysics and drilling.
(ii) Epithermal Ag-Pb-Zn Veins
At least 6 intermediate sulphidation veins have been mapped to date on
the property including the Yanapata, Macayaca, Lourdes, Esperanza,
Huayllay and Shalka veins, three of which have been traced over 1km in
strike by mapping. The Yanapata vein is the only structure that was
exploited historically by underground methods. Bonanza Ag grades
include 0.7m @ 107.4 oz/t Ag, 11.7% Pb and 11.8% Zn. Vein widths
sampled average 1.0m ranging up to 3.5m. Surface sampling geochemistry
on the other veins indicates potential for similar grades at depth.
Target and Planned Exploration
Focus is targeting a high grade Ag-Pb-Zn deposit at similar grades to
those mined historically. A PIMA alteration study undertaken by Focus
highlighted predominantly illite and kaolinite alteration, confirming
the high level and relatively un-eroded hydrothermal system at Santa
Rosa. The property has never undergone any systematic modern
exploration such as geophysics and is presently undrilled. Work planned
by Focus will consist of a high density, high -resolution CSAMT survey
to map the subsurface signature of known mineralization and prove up
additional targets, followed by drilling. Work is subject to the
granting of the usual permissions.
Under the terms of an agreement signed with the property owner, a local
Peruvian company, Focus can earn 100% in the property by making cash
signing (paid) and a series of incremental payments including
respectively. For future resources defined in Measured and Indicated
categories in excess of 5 million tonnes, a royalty of
tonne will be payable.
Additional information on the Santa Rosa property will be available
shortly on the Focus website: www.focusventuresltd.com.
The scientific and technical information in this release was prepared
under the supervision of Mr.
member of the Association of Professional Engineers and Geoscientists
Samples were analyzed by ALS Chemex Laboratories in Lima. Gold was
assayed by Atomic Adsorption Spectrometry with fire assay gravimetric
finish. Silver was determined by multi-acid digestion and ICP-AES,
with AA finish. Lead and Zinc were determined by ICP with Atomic
Adsorption Spectrometry and volumetric finish. ALS Chemex’s quality
control system complies with International Standards ISO 9001:2000 and
ISO 17025:2005. Analytical accuracy and precision are monitored by the
analysis of reagent blanks, reference material and replicate samples.
Focus’ own blanks and duplicates were included in the sample stream.
About Focus Ventures
Focus Ventures is acquiring advanced, drill-ready projects in Peru.
Backed by an experienced technical team of geologists and consultants,
Focus’s strategy is to identify and acquire former producing mines or
un-tested gold 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
Shares Issued: 29.1-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
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.