Geophysical Survey in Peru Outlines Potential Size of the Aurora
Porphyry Cu-Mo Target
VANCOUVER, Jan. 16, 2013 /CNW/ - 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 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.
Background
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.
Qualified Person
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"
David Cass, President
Symbol: TSXV-FCV
Shares Issued: 40.1-million
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
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.