VANCOUVER, Aug 05, 2010 /PRNewswire via COMTEX/ — Focus Ventures Ltd. (TSX-V: FCV.V) is pleased to announce that the Chúcara project is developing well, with more high grade gold and silver assay results returned from the ongoing detailed sampling program. The Company continues to identify new high grade structures and extensions to the mineralizing system at Chúcara, including the discovery of several previously unknown veins in the northern half of the project area. The upcoming drill program will test the southern target area for surface mineable, high grade Au-Ag mineralization, in addition to testing the past-producing veins and their extensions, and new veins discovered in the northern half of the property.
Southern Target Area
Assay results have been received from 77 rock geochemical samples taken from the Sesamo-Esperanza, Confianza and Chip-Chip zones located on the southern half of the property. A total of 91 channel samples have been assayed to date including those reported on July 26, 2010. The samples were collected from a zone of sub horizontally dipping, en-echelon “stacked” quartz – semi-massive sulphide veins over an area measuring approximately 850 x 300m along a ridge. The veins were recently exposed through soil cover by informal miners in trenches, pits and shallow stopes in order to exploit their weakly oxidized upper portions.
The average grade for all 91 samples is 7.4 g/t Au and 439 g/t Ag over widths averaging 0.6m (ranging from 0.1m to 5m). Gold values range from trace to 30.8 g/t Au, and silver from trace to 2,090 g/t Ag. Half of the samples grade over 5.9 g/t Au and 322 g/t Ag (10.3 oz/t Ag), with 84 samples assaying 1g/t Au or higher. The vein widths reported are true widths measured across the trend of the vein. The table below lists all samples from the southern area grading over 10g/t Au:
Sample Width Au Ag Au Eq. Pb Zn # (m) (g/t) (g/t) (g/t)* (%) (%)
22279 0.5 14.6 225 17.9 1.3 1.0
22291 1.0 15.2 800 27.2 12.2 5.1
22509 0.7 20.2 208 23.3 2.3 2.8
21137 0.1 14.8 280 19.0 0.7 0.1
21933 0.4 14.4 466 21.4 2.5 0.1
22336 0.5 29.8 322 34.7 1.6 1.2
21932 0.3 15.3 405 21.4 2.3 0.1
21141 1.0 14.6 558 23.0 7.7 7.1
22330 0.3 11.2 1,010 26.4 2.5 0.1
21115 0.6 12.5 152 14.7 1.3 0.1
21131 0.2 15.3 694 25.7 0.5 0.2
22442 0.6 10.7 761 22.1 2.0 0.2
22326 0.4 12.7 775 24.3 3.5 0.2
21139 0.1 10.5 359 15.9 6.2 0.4
21112 0.2 30.8 713 41.6 1.1 0.5
21110 0.3 14.1 385 19.9 8.5 1.0
22338 0.3 26.8 539 34.9 3.6 1.5
21145 0.4 13.5 378 19.2 2.5 2.1
21117 0.2 10.4 959 24.8 4.0 2.3
22343 0.3 10.7 720 21.6 7.6 3.2
21138 0.5 14.7 1,030 30.2 7.1 6.1
22337 0.3 13.5 517 21.3 7.9 7.0
22342 0.3 14.3 894 27.8 13.5 11.4
* Au Eq. based on silver:gold ratio of 66.3:1 and assumes 100% metallurgical recoveries.
The high gold and silver grades are consistent and demonstrate that the mineralization has good lateral continuity. The veins appear to be emplaced within a series of shallow dipping echelon extensional gashes that crosscut at high angles steeply dipping interbedded shale and siltstone units which host narrow feldspar porphyry sills. The veins which consist of quartz and semi-massive to locally-massive sulphide (galena, sphalerite, arsenopyrite, pyrite and stibnite) are post intrusion and are thought to be related to property scale recumbent folding.
Three samples taken from old Spanish workings in black argillites located 200m further down slope and south of the above sampling gave values in silver of 512 g/t, 595 g/t and 2,670 g/t respectively, with low values in gold.
Northern Target Area
In the northern part of the property, work was successful in the identification of new mineralized veins and splays in surface outcrop, in addition to the definition of strike extensions of veins that underwent historic production. Sampling confirmed the high grade gold values returned by previous companies, although no sampling or assaying for gold was ever carried out during the years of mine operation. The veins in the northern half are steeply-dipping and hosted by brittle quartzites and siltstones, in contrast to the sub horizontal veins dominating the southern area that are hosted within more ductile shales and siltstones.
The anticipated extension of the Wences vein was mapped some 320m beyond the surface workings, which would give the vein a minimum strike length of approximately 700m. The average grade and widths of 3 individual channel samples taken along this northernmost end over a 60m strike length was 13.5 g/t Au and 695 g/t Ag over 0.35m, with grades of up to 18.3 g/t Au and 473 g/t Ag over 0.4m. Nineteen rock samples taken over the main workings returned an average grade of 6.4 g/t Au and 212 g/t Ag over an average width of 0.62m (ranging from 0.2m – 1.4m) with grades ranging from 1.3 g/t Au – 10.8 g/t Au and 34 g/t Ag – 730 g/t Ag.
New veins and splays have been outlined by mapping between and adjacent to the main veins; one of the most significant being 130m to the east of Wences where four channel samples taken over a strike of approximately 130m averaged 11 g/t Ag and 451 g/t Ag over 0.83m, including a 1.2m wide vein-breccia grading 8.6 g/t Au and 268 g/t Ag.
Mapping and sampling is continuing to identify new structures and extensions to the mineralizing system at Chúcara. A high density – high resolution CSAMT geophysical survey currently underway by Quantec Geoscience is designed to map the veins to depth and detect additional veins under cover. The results from the geophysical 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.
Focus is exploring for high-grade gold, silver and base metal mineralization at Chúcara 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. 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, covering the majority of the historic Chuvilca Ag-Au (Pb-Zn) mine workings and the southeastern extension of the mineralization.
Permissions are pending for a drill program that will test the Southern Target Area (Sesamo – Esperanza, Confianza and Chip-Chip zones) for surface mineable, high grade Au-Ag mineralization, in addition to the depth and strike potential of the past-producing high grade veins in the northern part of the concession in addition to new veins discovered to date by Focus. No previous drilling has ever been undertaken on the property.
Maps and photos will be available shortly on the Focus website, www.focusventuresltd.com.
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
David Cass, President
Erin Ostrom/Ralph Rushton
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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