VANCOUVER, Nov. 2, 2011 /CNW/ - Focus Ventures Ltd. (TSXV: FCV) is
pleased to announce that field work is underway at its Santa Cruz
Project located in the State of Durango, Mexico. The project covers
13,350 hectares of mining claims over a system of high-grade epithermal
silver veins and breccias that occur within a corridor 9km long and 2km
This first phase exploration field program includes trenching, rock chip
sampling, mapping and clay alteration studies within the known
mineralized trend, in addition to systematic soil sampling to define
extensions to the trend to the east, south and north. The work has
already identified several new areas of alteration. The information
from this first phase program will be used to design a Stage 2 drill
program planned for early 2012.
The surface mineralization at Santa Cruz is typically silver rich and
hosted by breccias, indicating a high level in the epithermal system.
Several of the structures were mined historically for high grade
silver, copper and gold. For example the San Pablo - La Fragua - Orozco
trend which can be traced for over 3km along strike, with widths of
individual zones ranging up to 30m on surface. Underground sampling by
Focus at the newly discovered El Padre vein located some 2.2km further
east returned grades from trace to 1,440 g/t Ag and 1 g/t Au over 0.9m
within broad zones of epithermal breccias up to 8m wide.
The Santa Cruz project lies within the Silver Lake Trend, in the western
flank of the Sierra Madre Occidental Volcanic Province, a polymetallic
belt that hosts several operating and past producing gold and silver
Mineralization consists of veins and breccias extending over a strike
length of at least 9km, historically termed the West, Central and
Eastern Districts. Recently discovered high grade silver veins have
highlighted the potential in the Eastern District which will be the
main focus of the initial work program. Precious metal mineralization
is typically hosted in banded and smoky quartz veins and breccias
associated with mainly argentite, electrum and sulphosalts.
New mineralized zones at El Padre, Don Blas and Renata were discovered
within the last year in the Eastern District, along trend from the San
Pablo - La Fragua - Orozco structure. The El Padre structure has been
traced for 500m on surface and is now undergoing small scale, artisanal
production by the claim owners, a local Mexican mining company.
Underground sampling by Focus at El Padre returned high grade assays
from trace to 1,460 g/t Ag and trace to 2.2 g/t Au within broader zones
of low grade quartz breccias and stockworks up to 8m wide.
Highlights of this sampling include 775 g/t Ag + 0.2 g/t Au over 1.1m;
733 g/t Ag + 0.7 g/t Au over 1.8m, and 591 g/t Ag + 1.1 g/t Au over
2.3m. The El Padre structure is open along strike and at depth.
The San Pablo - La Fragua - Orozco trend consists of a major silicified
shear associated with at least two parallel fault zones. Past
production at La Fragua of direct-shipping high grade silver, gold and
copper ore saw grades of 3,200 g/t Ag, 27 g/t Au and 33% Cu, similar to
those mined historically in the Santa Cruz Mine, located in the Western
Limited previous drilling in 2005 along the La Fragua - Orozco structure
appears to have tested for disseminated mineralization. Four holes
were drilled at wide spacings over a strike distance of 1.7km. All
holes intersected mineralization, including narrow, high grade and
wider, low grade disseminated intervals, e.g. 464 g/t Ag + 0.12 g/t Au
+ 2.71% Zn over 3.0m in Hole SC-2, (112m-115m), and 76 g/t Ag + 1.07%
Zn over 19m in Hole SC-5 (101m - 120m).
Further information is available of the company website http://www.focusventuresltd.com.
Terms of the Option Agreement
Under the Terms of the Agreement with a local Mexican mining company,
Focus has the option to acquire 80% of the Santa Cruz Project by
defining 15Moz of Silver Equivalent resources in the Inferred Category
within 4 years, and by paying the owner a total of $20,000,000 cash, of
which $40,000 is payable on signing of the agreement (paid), and
$20,000 is payable every 6 months while the option is outstanding.
Upon exercise of the option, Focus must pay the owner the remaining
cash balance owing and grant the owner a 3% NSR on future production.
The Agreement also grants Focus right of first preference to the
historic Santa Cruz and Zambraneña mines (201 hectares) located in the
west and central parts of the Santa Cruz Project.
Sampling Quality Analysis and Quality Control
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.
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. Finally,
representative sample pulps are forwarded to an ISO-compliant third
party laboratory for additional quality control.
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
About Focus Ventures
Focus Ventures is dedicated to the discovery and definition of quality
mineral resources in Peru and Mexico and is developing a diversified
portfolio of quality projects that show potential to become new mines.
ON BEHALF OF THE BOARD
David Cass, President
Contact: Jaclyn Ruptash / Ralph Rushton
Shares Issued: 29.3-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.
For further information:
please call 604-688-5288 or visit our web site: www.focusventuresltd.com.