Focus Outlines Plans for Bayovar 12 Phosphate Project in 2014
January 16 2014 - 8:30AM
Marketwired
Focus Outlines Plans for Bayovar 12 Phosphate Project in 2014
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 16, 2014) -
Focus Ventures Ltd. (TSX-VENTURE:FCV), the Latin American phosphate
explorer, is pleased to provide an overview of the Company's 2014
plans for exploration of the Bayovar 12 phosphate project in
northern Peru.
On January 14, 2014, the Company signed a formal Option
Agreement for the acquisition of shares in Juan Paulo Quay S.A.C.
("JPQ"), the titleholders of the Bayovar 12 non-metallic mining
concession. The concession shows potential to host a large
sedimentary phosphate deposit and it will be the main focus of the
Company's activities during 2014. The terms of the Agreement were
outlined in Focus's news release dated September 10, 2013. Focus
can earn a 70% interest of the issued share capital of JPQ by
investing in exploration and making a series of cash payments up to
the completion of a positive pre-feasibility study, after which
Focus will have the first right of refusal to purchase the
remaining 30% of JPQ.
A drill permit application has been submitted to the Peruvian
Authorities for an initial 20 hole program. The drilling will
utilize two diamond drill rigs and is scheduled to begin once the
permit is received, most likely in late January.
Drilling will concentrate on the western half of the concession
which management hopes will allow for an initial NI 43-101
compliant resource calculation. The conceptual geological target
size is between 80-100Mt of phosphate rock grading between 12-17%
P2O5 - roughly in line with the other known phosphate rock deposits
in the Bayovar district. (The reader is cautioned that the
potential quantity and grade is conceptual in nature, and there has
been insufficient exploration to define a mineral resource. It is
uncertain if further exploration will result in the target being
delineated as a mineral resource. The calculation is based on the
presence of at least 6 phosphate beds averaging 0.75m width, with a
specific gravity of roughly 1.7, over an area of approximately
14km2).
Golder Associates have been retained to advise on the planned
sampling, QA/QC and analytical protocol for the drill program, and
provide recommendations on drill hole spacing optimization for
resource classification purposes. A small bulk sample made up of
drill core for initial mineral processing testwork will be
collected.
Background - geology and phosphates in the Sechura
Desert
The Bayovar district is situated in the Sechura Desert, a
north-trending basin approximately 22,000 square kilometres in area
comprising Miocene-aged rocks covered by recent coastal sand
deposits. Phosphate was discovered in the 1950's during drilling
for petroleum as beds and horizons of pelletal phosphate within the
Zapallal Formation, a sequence of diatomites and sandstones about
200m thick (diatomite is a sedimentary rock composed of fossilized
algal shells and is mined locally for cement manufacture). The
phosphate layers are remarkably regular in P2O5 content over long
distances, a typical characteristic of marine phosphate deposits.
The soft and friable nature of the phosphate rock and diatomite
permits mining by conventional truck and shovel without the use of
explosives.
Vale's Bayovar Mine, located on the Bayovar 2 concession,
approximately 15 km west of Bayovar 12, is one of the biggest
phosphate deposits in South America. Vale sold minority stakes in
the project to Mosaic (35%) and Mitsui (25%) for $660 million in
2010. Fospac (Cementos Pacasmayo / Mitsubishi / Zuari) is
developing a phosphate deposit on the Bayovar 9 concession, located
immediately north of the Bayovar Mine. The project contemplates a
mine life of 20 years based on 130 MT (dry density) of measured and
indicated reserves and resources** grading 17.5% P2O5.
*Vale 2010 Annual Report |
**Fospac Environmental Impact Assessment Report,
October 2013 |
Qualified Person
The scientific and technical information in this release was
prepared under the supervision of David Cass, Focus's president,
who is a member of the Association of Professional Engineers and
Geoscientists of British Columbia, and a Qualified Person in
accordance with NI 43-101.
About Focus Ventures
Phosphate rock is a raw material for fertilizers and vital to
world food production. Focus is acquiring and developing quality
phosphate projects in Latin America where the discovery and
development of new deposits is becoming increasingly important
given the growing demand and limited local supply of phosphate for
fertilizer production. For further information, please call
604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Ralph Rushton, Director
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking
Statement
Some of the statements in this news release contains
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.
Focus Ventures Ltd.Ralph RushtonDirector(604) 630-5544(604)
682-1514info@focusventuresltd.comwww.focusventuresltd.com
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