Focus Starts Drilling at Reventon
VANCOUVER, May 1, 2013 /PRNewswire/ - Focus Ventures Ltd. (TSX-V: FCV) is pleased to announce that drilling has started at the El Reventon silver-gold property, located in Durango, Mexico.
A total of 2,000m is planned to test several targets, commencing with the Estrella area where at least five mineralized breccias and veins have been discovered over an area of roughly 700m long x 250m wide.
Surface and underground sampling by Focus at the Estrella mine has shown significant grades in silver and gold including 687 g/t Ag over 5.6m, with 0.2 g/t Au, 2.6 % Pb and 1.3% Zn, and 8.9m @ 165 g/t Ag, 0.32 g/t Au. Sampling of hydrothermal breccias at Colorin and La Plomosa, located 400m east of the Estrella mine gave 12m @ 176 g/t Ag, 0.2 g/t Au, 3.1% Pb and 0.8% Zn, and 6m @ 78 g/t Ag, 0.38 g/t Au respectively.
The Chicle Zone lies approximately 250m west of the Estrella Mine and appears to be one of several additional mineralized epithermal breccias where sampling gave up to 4.5m @ 383 g/t Ag and 0.6 g/t Au.
Additional holes are also planned at the Reventon Breccia where drilling in 2007 and 2008 by International Northair Mines (TSX-V : INM) cut significant intercepts of silver, zinc and lead in the majority of holes drilled, including 155.4m @ 71.3 g/t Ag, 0.46% Pb and 0.61% Zn (Hole RC-08-8) and 22.9m @ 287 g/t Ag, 1.39% Pb and 3.48 % Zn (Hole RC-08-13).
Other targets include Bellota where trenching of soil anomalies discovered a new trend of mineralization in altered andesites that assayed 98 g/t Ag over 24m (see Focus news release October 30, 2012).
Maps and plans are available on the company website www.focusventuresltd.com.
Santa Cruz Property
Due to the ongoing cost of maintaining its option at Santa Cruz and the new mining levy to be imposed by the Mexican government, the Company attempted unsuccessfully to re-negotiate the option terms with the property owners. Therefore the Company will terminate the option in order to focus its capital resources on the drilling of the higher grade silver-gold targets at Reventon.
El Reventon Background
The El Reventon property lies within the Silver Lake Trend, a polymetallic belt that hosts several operating and past producing gold and silver mines, including the La Ciénega, Topia, San Dimas and Metates deposits. Since mid-2012 exploration by Focus has resulted in the definition of several breccia-hosted silver and gold targets within the trend that show potential to host bulk-tonnage high-grade and low-grade deposits.
Focus holds an option agreement at El Reventon with International Northair Mines, whereby Focus can earn a 65% interest in the Project by incurring US$2,000,000 in exploration expenditures over three years, including a firm commitment of US$250,000 in the first year. Focus must also make cash payments to Northair totalling US$235,000 over two years, and maintain all underlying obligations of Northair by making cash payments under an existing option agreement to a property owner totalling US$105,000 (paid). Focus can earn an additional 15% interest by presenting a feasibility study of sufficient quality that would allow Northair to fund its share of the project, plus a cash payment of $100,000.
Sampling Quality Analysis and Quality Control
Rock samples were prepared at ALS Chemex's preparation facility in Zacatecas and analyzed in Vancouver, Canada. Silver was determined by multi-acid digestion and ICP-AES, with fire assay gravimetric finish. Gold was assayed by Atomic Adsorption Spectrometry with fire assay gravimetric finish. Lead and zinc were determined by ICP with Atomic Absorption with 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. Quality control is further assured by Focus's own QA/QC program which involves the insertion by Focus personnel of blind certified standards and 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.
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. 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 Organization of Canada accepts responsibility for the adequacy or 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.