Focus Acquires High Grade Phosphate Project in Colombia and Signs
Strategic Agreement
VANCOUVER,
Jan. 17, 2013 /CNW/ - Focus Ventures
Ltd. (TSXV: FCV) is pleased to announce that its Colombian
subsidiary, Agrifos Colombia Corp ("Agrifos"), has signed an option
agreement with a private Colombian company for the Luisa Maria
Phosphate property located in the Department of Boyaca,
Colombia, and a strategic
agreement to acquire additional phosphate concessions in
Colombia.
The Luisa Maria property comprises approximately
1,651 hectares of titled mining concessions located in the
Department of Boyaca, some 3 hours drive by asphalt highway from
the Colombian capital, Bogota.
Sampling by Agrifos has identified at least 2 high grade
phosphorite beds. Sampling has shown grades from 7.9%
P205 to 29.2 P205 (10
samples averaged 19.4 % P205) with the
phosphatic units mapped over at least 12 km. The beds are between 1
- 3m thick, with widths up to 7m locally occurring in calcareous
mudstones and siltstones belonging to the Cretaceous Guadalupe
Group.
Under the terms of the Agreement, Agrifos can
earn a 70% interest in the property by investing a total of
$750,000 in exploration and
development over 5 years, including a payment of $50,000 on signing (paid). Agrifos must spend
$100,000 during the first 18 months
from the signing of the Agreement and $300,000 in cumulative expenditures during the
first 36 months of the Agreement. Focus can purchase the
outstanding 30% interest by paying the owner 1% of the value of
each tonne of phosphatic rock defined in Measured and Indicated
Resource categories and averaging 20% P205 or
more based on the price of Bayovar FOB* rock phosphate. (For
resources averaging below 20% P205, payment will be
calculated based on the following formula % = X/20, where X =
average grade).
Agrifos has also signed a strategic alliance
with the titleholder to acquire additional phosphate claims in
Colombia, under the same terms,
for areas currently under application with the Colombian National
Mining Agency (NMA). The NMA declared a moratorium on new claim
applications in February 2011 in
order to overhaul its cadastral system and deal with a large
backlog of new claims applications. The new system is expected to
be operative by June 2013.
* Free on Board
Background
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.
Phosphate is a key raw material for chemical
fertilizers, which are part of the Food Supply Chain. Given the
current global food crisis due to the world's growing population
and economic development, demand for worldwide fertilizers is
expected to grow. Approximately 75% of global phosphate resources
are from marine sedimentary phosphate deposits which are typically
amenable to beneficiation to produce marketable phosphate rock
concentrate or chemical grade fertilizers. With the growth of new
markets such as Brazil,
India and Indonesia and scarcity of resources,
particularly in the Americas, there will be increasing demand for
alternative sources of rock phosphate.
Focus is acquiring phosphate projects in
Latin America. Other projects
acquired to date include the Machay and Quebranta phosphate
properties in Peru. For further
information, please call 604-688-5288 or visit our web site
www.focusventuresltd.com.
Sampling Quality Analysis and Quality
Control
Rock samples were prepared at ALS Chemex's
preparation facility in Bogota,
Colombia and analyzed in Lima, Perú. Phosphate was determined by
X-Ray Fluorescence Spectroscopy (XRF), the sample is fused with a
12:22 lithium metaborate - lithium tetraborate flux, and then
poured into a platinum mould; the resultant disk is in turn
analysed by XRF spectrometry. 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 samples. Quality control is
further assured by Focus's own QA/QC program which involves the
insertion by Focus personnel of blanks into the sample stream at
regular intervals in order to independently assess analytical
precision and accuracy of each batch of samples as they are
received from the laboratory.
Qualified Person
The scientific and technical information in this
release was prepared under the supervision of Mr. 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
Focus Ventures is developing a diversified
portfolio of quality silver, gold, copper and phosphate properties
in Peru, Mexico and Colombia. 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.
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.