VANCOUVER, July 26 /PRNewswire-FirstCall/ - Focus Ventures Ltd. (TSX-V: FCV.V) is pleased to announce an update on progress at its Chucara gold-silver project, located in the La Libertad gold mining district in north-central Peru, where the Company is preparing to drill in Q3.
Focus is exploring for high-grade gold, silver and base metal mineralization in a system of intermediate sulphidation-type veins within a northwest-southeast corridor at least 2 kilometres in length. There has been some historic production from the project, and Focus is exploring for both underground and surface mineable structures.
Recent work has shown that the Sesamo - Esperanza, Confianza and Chip-Chip zones in the southern half of the property appear to be part of a single system of gently-dipping, stacked veins that cover a large area of at least 250m by 800m along a major ridge, creating a possible scenario for selective surface mining if an economic deposit can be delineated by drilling.
Initial assay results (see Table) have been received for 14 channel samples collected by Focus from the veins in the southern half of the property. The assays gave an average grade of 4.9 g/t Au and 301 g/t Ag (9.7 oz/t Ag), ranging from 0.44 g/t Au to 15.1 g/t Au, and 63 g/t Ag to 879 g/t Ag (28.2 oz/t Ag) over widths averaging 0.76m (ranging from 0.4m to 1.5m). These grades are in line with those reported from historic sampling. A detailed sampling program has been undertaken across the property and remaining assay results are pending.
SAMPLE Width (m) Au g/t Ag g/t Pb %
22279 0.5 14.6 225 1.3
22280 0.5 8.5 346 1.8
22281 0.7 3.0 208 2.2
22282 0.5 3.0 513 1.9
22283 1.2 1.0 126 0.7
22284 0.6 0.4 29 0.1
22285 0.5 3.9 879 2.9
22286 0.5 2.9 141 1.3
22287 0.5 2.0 136 1.9
22288 1.0 3.7 414 4.7
22289 0.4 4.0 80 2.0
22290 1.5 4.2 254 1.2
22291 1.0 15.2 800 12.2*
22292 1.2 1.7 63.8 0.6
* Interval also assayed 5.1% Zn
In the northern half of the property, steeply dipping veins that were mined historically on the Conzuzo, Maria and Wences veins have been mapped and sampled. Additional splays have also been outlined by mapping between the main veins.
The old Chuvilca mine is estimated to have produced roughly 176,000 short tons grading 4 oz/t Ag and 6% combined lead and zinc between 1974 and 1981 but was never tested for gold or explored by drilling.
Current Work
Camp and deposit scale mapping have been completed and a basic geological model for the mineralization has been put together. Results from a lithogeochemical sampling program currently in progress are expected to validate geochemical results from high-grade Au, Ag and base metal veins obtained by previous workers (see the Focus website) and give a better idea of vein controls, widths and mineral zonation within the deposit.
A high density - high resolution CSAMT geophysical survey is currently in progress and is designed to map the veins to depth and detect additional veins. The results from the CSAMT survey will be combined with the geological mapping, geochemical results, and detailed cartography into a comprehensive geological model that will finalize targets for a drill program tentatively scheduled for late August/September, or as soon as drill permits are received.
Drilling will test the southern target area (Sesamo - Esperanza, Confianza and Chip-Chip zones), in addition to the depth and strike potential of the past-producing high grade veins in the northern part of the concession. No previous drilling has ever been undertaken on the property.
Deposit Geology and Mineralization
The mineralization at Chucara is hosted in siltstones and shales of the Jurassic Chicama Formation, which have been folded into a regional NW - SE trending syncline. Bedding in the east limb of the synform passes through the center of the Chucara property and dips either vertical or is overturned dipping steeply to the east. In a valley parallel to and immediately east of the mineralization at Chucara, the bedding is folded over into an open anticline which is parallel to the long trend of the mineralization at Chucara.
The shales and siltstones at Chucara have been intruded by a variety of intermediate to felsic sills and dykes which increase in frequency to the east of the long axis of mineralization notably in the hinge of the anticline. The mineralization occurs across the project as swarms of semi-massive sulphide-quartz veins largely confined to the east limb of the fold. The structures that control the mineralization in all cases are interpreted as robust faults that clearly cross-cut bedding.
There is an obvious camp scale correlation between mineralization and intrusions, but on a local scale the mineralization clearly postdates the sills with veining, often crosscutting or occurring along their contacts.
In the southern half of the deposit at the Sesamo-Esperanza, Confianza and Chip-Chip zones, the en-echelon or stacked gently-dipping veins are hosted by interbedded shale and siltstones that have undergone a mixture of both brittle and ductile deformation.
Further to the north, past mining took place on three parallel structures (Consuzo, Maria and Wences) that trend NNE - SSW and dip steeply to the west forming the majority of the old Chuvilca Mine. The Mine produced an estimated 176,000 short tons grading 4 oz/t Ag and 6% combined lead and zinc between 1974 and 1981 (no assays for gold). Mineralization was traced continuously for 100s of meters on surface and also down dip for at least 150 meters.
Host rocks are dominated by siltstone, and displacement along the structures appears to be minimal. Past exploitation was carried out on veins that are (greater than)1.0m thick; however, several smaller (less than)0.5m scale veins have been found during mapping between the major ones. A detailed sampling program has been undertaken across the property and remaining assay results are pending. Previous sampling by Focus included up to 17.1 g/t Au and 1,245 g/t Ag (40 oz/t Ag) over 0.6m (Veta Maria).
Both the steeply dipping and low angle veins in the north and south of the property respectively are the same mineralogically, consisting of gold and silver bearing quartz-pyrite-arsenopyrite-galena-sphalerite.
Drilling
A drill permit application, which includes agreements for surface access from the local communities, was submitted to the government and local authorities in June. Drilling will commence once permissions have been received.
Background
The 700 ha project is located some 45 km southeast of Barrick's Lagunas Norte Mine and 18 km east of the Comarsa Au-Ag Mine, and covers the majority of the historic Chuvilca Ag-Au (Pb-Zn) mine workings and the south-eastern extension of the mineralization.
Compilation by Focus of historic mine plans, mine sections, and surface sampling undertaken by the previous mine owners and other companies subsequent to the mine closure in 1982, has demonstrated that gold, silver and base metal mineralization continues along trend to the southeast beyond the area that was exploited 28 years ago. Many new veins and structures with consistently high grade gold and silver values are distributed over a mineralized corridor approximately 2km long and 250m wide.
Maps are available on the Focus website www.focusventuresltd.com
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.
Samples were analyzed by ALS Chemex Laboratories in Lima. Gold was assayed by Atomic Adsorption Spectrometry with fire assay gravimetric finish. Silver was determined by multi-acid digestion and ICP-AES, with fire assay gravimetric 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.
About Focus Ventures
Focus Ventures is acquiring advanced, drill-ready projects in Peru. Backed by an experienced technical team of geologists and consultants, Focus's strategy is to identify and acquire former producing mines or un-tested gold 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
"Ralph Rushton"
Ralph Rushton, Vice-President, Corporate Development
Erin Ostrom / Ralph Rushton
Symbol: TSXV-FCV
Shares Issued: 29.2-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE Focus Ventures Ltd.
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