Focus Files NI 43-101 Technical Report on Bayovar 12 October 27, 2014; Vancouver, Canada: Focus Ventures Ltd. (FCV.V “Focus”) is pleased to announce that it has filed the NI 43-101 Mineral Resource Technical Report on the Bayovar 12 Phosphate Project, Piura Region, Peru, on www.sedar.com and on the Company website www.focusventuresltd.com.
The report, prepared in accordance with Canadian Securities Administrators’ National Instrument 43-101 was prepared by Golder Associates, under the supervision of Jerry DeWolfe, MSc. P.Geo, an Independent Qualified Person defined under National Instrument 43-101. The report provides detail on the Company’s maiden resource estimate announced September 8, 2014.
| Category | Million Tonnes Wet * | Million Tonnes Dry * | Grade (% P2O5) |
|---|---|---|---|
| Indicated (61%) | 151.78 | 114.99 | 12.37 |
| Inferred (39%) | 96.83 | 73.36 | 12.44 |
* In-Situ Resource, no minimum thickness applied. Wet Density: 1.65 g/cm3 Dry Density: 1.25 g/cm3 Dry tonnage resources are included in the wet tonnage resources. The independent estimate and report, based on Focus’ initial 20-hole drill program, was prepared by GolderAssociates supervised by Jerry DeWolfe, MSc. P.Geo, and an Independent Qualified Person responsible under NI 43-101.
The resource estimate is based on 20 boreholes (2,027m) drilled over 650 ha of the 12,575 ha property, at drill spacings of 800m. The resources are distributed between 13 individual soft, free digging, horizontal phosphate beds hosted within the Diana Formation, a sequence of diatomites that begin as shallow as 26m below surface. The mineralization is open in all directions. The grades and widths of individual beds are very consistent, unaffected by faulting or structural features, and easily correlated across the deposit. Vale is believed to be mining the same beds at their Bayovar Mine 15km to the west of Bayovar 12.
Qualified Person
The scientific and technical information in this release were prepared under the supervision of 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 National Instrument 43-101.
The Resource Estimation was prepared by Golder Associates, under the supervision of Jerry DeWolfe, MSc. P.Geo, an Independent Qualified Person defined under National Instrument 43-101.
About Focus
Phosphate rock is a raw material for fertilizers and vital to world food production. Focus is acquiring and developing quality phosphate projects in Latin America where the discovery and development of new deposits is becoming increasingly important given the growing demand and limited local supply of phosphate for fertilizer production. For further information, please call 604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
David Cass, President