VANCOUVER, June 6, 2012 /PRNewswire/ - Focus Ventures Ltd. (TSX-V: FCV) is pleased to announce that it has commenced exploration at its recently acquired 4,430 hectare El Reventon property, Durango, Mexico.
El Reventon adjoins and is part of the same mineralized trend as Focus's Santa Cruz project. The Company now controls a district-scale land position over 20 kilometers long covering numerous historic silver workings and occurrences, including the Reventon Breccia silver prospect previously drilled by International Northair Mines Ltd. (TSXV:INM, see Company press release dated April 10, 2012).
Sampling has been completed by Focus at the Estrella mine located 2.2km southwest of the Reventon Breccia. A total of 62 samples were taken from underground workings and surface outcrops with mineralization traceable for over 400m strike. Results demonstrate the potential for high grade silver with significant grades in gold, lead and zinc over significant widths, with individual silver grades ranging from trace to 1,830 g/t over 1.6m.
Sampling Highlights, Estrella Mine
|28170 - 75
|28139 - 42
|28159, 61, 62
Mineralization at Estrella is associated with a system of northwest trending hydrothermal breccias and veins hosted in volcanic rocks that show similarities to the El Padre mine located some 16 km along trend at Santa Cruz. The extent of the high grade mineralization at Estrella is currently unknown due to widespread soil and colluvial cover. The results confirm previous high grade sample assays by Northair taken in 2006.
Soil & Geophysical Surveys
Previous exploration by Northair identified many silver occurrences and workings throughout the El Reventon Property. In 2007 and 2008 drilling at the Reventon Breccia prospect cut significant intercepts of silver, zinc and lead in the majority of holes drilled. Highlights of the historical drilling include:
- 155.4m @ 71.3 g/t Ag, 0.46% Pb and 0.61% Zn (Hole RC-08-8)
- 88.4m @ 107.9 g/t Ag, 0.53% Pb, 1.23% Zn, including
22.9m @ 287 g/t Ag, 1.39% Pb and 3.48 % Zn (Hole RC-08-13)
The deposit is open at depth and dips moderately and to the northeast underneath andesite volcanics. Focus is planning a geophysical IP survey to characterize the down-dip extensions of the mineralization and generate additional disseminated targets for drilling such as that observed at the Alisos zone some 450m to the south.
Other areas highlighted by Northair include the Potrero Zone where disseminated silver grades of up to 151 g/t have been reported hosted in a diorite porphyry. These zones are high priority for detailed sampling and evaluation up as part of Focus's exploration program.
Additionally, Focus has commenced a detailed soil survey over a 6 x 8 km grid at El Reventon to geochemically map and better define targets including Estrella, and generate new targets for follow-up. The technique has proved extremely successful in highlighting new mineralization at Santa Cruz.
Maps and plans are available on the Company website www.focusventuresltd.com.
The Santa Cruz and El Reventon Projects lie 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. District-wide historical production from this world-class belt is estimated at 655 million ounces (Moz) of silver and 9.33Moz of gold. Focus is developing a series of targets at Santa Cruz and El Reventon that show potential to host bulk-tonnage high-grade and low-grade silver deposits. Drilling is planned for later in the year.
Mines and occurrences along the Santa Cruz Trend are hosted within Lower Volcanic Series andesites immediately below the contact of Upper Series Rhyolites. Work by Focus at Santa Cruz and El Reventon has recognized both high grade and bulk-style precious metal mineralization associated with Laramide rhyolitic flow-domes. Mineralization includes breccia-hosted mineralization at Don Blas and at the Reventon Breccia. The stronger structurally controlled breccia mineralization at El Padre and La Fragua are aligned along a series of steep ENE trending structures that would have been re-activated a sinistral shears during Laramide NNE-SSW compression, and at Zambraneña NNW trending dextral shears.
Focus can earn a 65% interest in the El Reventon 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 will also be required to 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$139,000 by December 2014. Once Focus has earned its 65% interest, a joint venture will be formed where both Focus and Northair will contribute to exploration, with either party's interest to be diluted for non-participation. Should either party's interest fall below a 10% threshold, its interest will be converted to a 1% net smelter return royalty.
Sampling Quality Analysis and Quality Control
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.
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 based on reports provided to Focus by Northair. Focus, however, has not independently verified Northair's exploration results.
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, 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.