Vancouver, Canadá: Focus Ventures Ltd. (TSX-V: FCV – “Focus”) se complace en anunciar que ha firmado un acuerdo de Joint Venture con Daewoo International Corporation (“Daewoo International”), mediante el cual Daewoo International tendría una participación de 65% del proyecto de pórfidos de cobre y molibdeno Aurora, en Perú. Daewoo International es la empresa de inversión y comercio en Corea, además es subsidiaria de POSCO.
Focus Signs Joint Venture Agreement with Daewoo International Corporation
October 23, 2014; Vancouver, Canada: Focus Ventures Ltd. (TSX-V:FCV – “Focus”) is pleased to announce that it has signed a Joint Venture Agreement with Daewoo International Corporation (“Daewoo International”), whereby Daewoo International can earn a 65% interest in Focus’s Aurora porphyry copper-molybdenum project in Peru. Daewoo International is Korea’s largest trading/investment company and a subsidiary of POSCO.
David Cass, President of Focus, comments: “We are extremely pleased to have Daewoo International as our partners in the development of the Aurora copper project in Peru. We are very much looking forward to working with their Mineral Resources Division on a first phase drill program to commence as soon as drill permits have been granted. Our deal with Daewoo International will provide the funding necessary to take this copper asset to the next stage as we dedicate our financial resources to our Bayovar 12 phosphate project.”
Aurora is an advanced stage porphyry copper-molybdenum exploration project located approximately 65 km north of the city of Cusco, between 2,600 – 2,900m above sea level. It is currently being permitted for a major drill program. Thirteen historical drill holes, totaling 3,900m that were drilled over an area approximately 900m by 800m cut significant intervals of copper and molybdenum mineralization, including 190m @ 0.57% Cu, 0.008% Mo in DDA-1, 142m @ 0.5% Cu, 0.004% Mo in DDA-3, and 71.7m @ 0.7% Cu, 0.007% Mo in DDA-3A (see Focus news release July 11, 2012).
Observations and interpretations made from the re-logging of available drillcore by Focus have been key in the understanding of the deposit’s geometry and exploration potential. The porphyry mineralization does not outcrop apart from a small area on the northern edge of the property around drillhole ABC-6.
Drilling in 2001 and 2005 (13 holes) intercepted significant widths of copper and molybdenum hosted by multi-phase quartz-feldspar porphyries and hornfelsed slates and pelitic sandstones belonging to the Ordovician (439 – 463 ma) Sandia Formation. Several of the shallower drillholes were terminated in intrusive rock grading +0.5% copper with grades strengthening towards the bottom of the hole (see drill results on the Focus website). Molybdenum-rich mineralization, characterizing the deeper parts of the sill complex, was drilled in ABC-6, which assayed 302.4m @ 0.082% Mo and 0.23% Cu for the length of the hole, including 84m @ 0.42% Cu and 0.11% Mo.
Results of Focus’s IP and Magnetic Geophysical survey support Focus’s interpretation that the Aurora mineralizing system extends well beyond the limits of the historical drilling over an area 1.5 km x 2 km and could contain a large porphyry copper molybdenum deposit.
A supergene enrichment profile marked by the prevalence of secondary chalcocite, is observed in many holes and accounts for the highest grade intercepts e.g. 26m @ 0.95% Cu in DDA-1 & 72m @ 0.7% Cu, in DDA 3A. Definition of this enrichment profile at Aurora will be an important aspect of the upcoming drill program.
All Historic Drill Intercepts
|ABC 1||2001||290.0||109.0||290.0||181.0||0.30||0.010||0.35||Hornfels, Porphyry|
|ABC 4||2001||180.0||30.0||54.0||24.0||0.45||0.010||0.49||Slate & Hornfels|
|ABC 6||2001||303.9||1.5||303.9||302.4||0.23||0.082||0.64||Porphyry > Mo|
|DDA-01||2005||604.0||162.0||406.0||244.0||0.48||0.007||0.52||Porphyry & Hornfels|
|DDA-02||2005||218.8||20.0||62.0||42.0||0.50||0.028||0.64||Slate & Hornfels|
|DDA-03||2005||159.8||18.0||159.8||141.8||0.50||0.004||0.52||Slate, Hornfels, Breccia|
|DDA-3A||2005||297.7||82.0||297.7||215.7||0.36||0.005||0.39||Slate & Hornfels|
|DDA-04||2005||401.0||204.0||396.0||192.0||0.19||0.012||0.25||Rhyodacite Porphyry & HT breccia|
|DDA-06||2005||268.4||232.0||268.4||36.4||0.40||0.001||0.41||Rhyodacite Porphyry & HT breccia|
|DDA-07||2005||409.3||210.0||402.0||192.0||0.21||0.006||0.23||Hornfels, slate, porphyry|
* Copper equivalent grades (Cu Eq.) were calculated using $2.80/lb Cu and $14/lb Molybdenum (1:5 conversion ratio) and assumes 100% metallurgical recoveries. Disclaimer; Focus has not fully verified the quality and accuracy of the historic drill assays, which were obtained from third party reports and data files, but are believed to be reliable based on limited review of available drill cores and past public company filings (a total of 131 core boxes containing approximately 500m of drillcore from Holes DDA-1, DDA-3, DDA-3A and DDA-4 are available, the rest of the drillcore could not be located and is assumed lost or misplaced by the claim owners.)