VANCOUVER, Jan. 18 /CNW/ - Focus Ventures Ltd. (TSX-V: FCV.V) is pleased
to announce that it has staked a large property package prospective for
phosphates near the towns of Tarma and La Oroya in central Peru,
roughly 200km east of Lima.
During the course of ongoing property evaluations for precious and base
metals, the Company identified an opportunity to acquire a land
position in central Peru covering the trend of the phosphate-bearing
Aramachay Formation, a Jurassic-aged sedimentary unit.
A number of old geological reports written in the early 1960's for the
Cerro de Pasco Corporation, highlighted numerous phosphate occurrences
in the Tarma-La Oroya region hosted within the Aramachay Formation.
Stonegate Agricom's (TSX: ST) Mantoro phosphate deposit near Sincos is
hosted by the same unit, approximately 30km to the south-east. To date,
Stonegate has outlined measured and indicated resources of 39.5Mt @ 10%
P2O5 and inferred resources of 376.3Mt @ 9% P2O5 (See "Technical Report on Mantoro Phosphate Deposit, Junin District,
Peru, March 2, 2010"of Stonegate on www.sedar.com)
Phosphates are an essential component of many fertilizers. The price of
phosphate rock concentrate was $155-165/t for 31-33% P2O5 as of January 6, 2011, and has risen by nearly 25% in the last year
reflecting the growing global demand for fertilizer. Given this
increase in demand, and Focus's presence on the ground in Peru, the
Company made applications for 26 concessions covering roughly 16,600
hectares, now known as the Machay Property. Sixteen of the concessions
have been granted, and the other 10 are pending registration. A map
showing the concessions will be available shortly on Focus' website at www.focusventuresltd.com.
As fertilizers are not a key part of Focus's business strategy, a joint
venture partner will be sought to explore the phosphate potential of
the claims package. The claims are strategically located close to the
La Oroya metallurgical complex, a potential source of sulphuric acid
for fertilizer production.
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 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 and silver 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
Vice President, Corporate Development
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.
For further information:
Erin Ostrom / Ralph Rushton
Shares Issued: 29.3-million