Focus Confirms Bulk Tonnage Gold Potential at Nueva California
VANCOUVER, Oct. 27 /PRNewswire-FirstCall/ - David Cass, President of Focus
Ventures Ltd. (TSX-V: FCV.V "Focus"), is pleased to announce assay results for
the first-pass drill program at the Nueva California project in north-central
Peru, located some 35km north of the Pierina gold mine.
Four holes were drilled for a total of 405m. All holes intersected epithermal
style gold mineralization, with higher grades ((greater than)5 g/t Au)
associated with silicified and hydrothermally brecciated sediments.
Significant mineralized intercepts include:
- 69.6m grading 1.84 g/t Au* and 22 g/t Ag from surface in Hole DDH-
NC-003
- 38.2m grading 1.70 g/t Au and 20 g/t Ag from surface in Hole DDH-NC-
002
* A high grade sample assaying 171 g/t Au and 816 g/t Ag drilled from
2.7m to 3.6m was cut to 30g/t for calculating this weighted average
interval. Using the uncapped value, the interval grades 3.66g/t Au over
69.6m.
Simon Ridgway, a Director of Focus, said: "Our preliminary drill program has
successfully verified the high-grades mined historically and confirmed the
lower grade, near surface, bulk tonnage potential of the Nueva California
mineralization in all holes. We are currently permitting a much larger drill
program which will help to fully investigate the economic potential of the
gold-silver system. We are eager to drill test the lower levels of the
existing mine where geophysics has mapped a near surface coincident
chargeability and conductivity anomaly beneath the lower most mine workings.
The anomaly is open at depth and while open ended extends at least 400 m along
trend, and is interpreted to be the down dip extension of the known
mineralization."
The current drill holes were located in the upper elevations of the mine where
the geology is poorly understood because the underground workings are mostly
collapsed and inaccessible. Each hole was oriented to try to avoid the
underground workings. Where workings were intercepted and/or no core was
recovered, grades of nil g/t Au were conservatively assigned to calculate the
weighted average grades. Drill plans, sections and drill core photos will be
available shortly on the Focus website www.focusventuresltd.com.
Strongly silicified and mineralized zones of argillite intercepted in the
holes are interpreted to be roof pendants and xenoliths hosted by strongly
quartz - sericite altered granodiorite dikes. The granodiorite hosts low-grade
but potentially bulk-tonnage gold mineralization assaying between 0.2 - 2 g/t
Au. The rocks intercepted in the hanging wall to the old workings are a mix of
disturbed and unconsolidated gossanous and altered granodiorite and argillite
boulders, with intermittent zones of bedrock of the same composition.
Summary of Drill Results
-------------------------------------------------------------------------
Hole # From To Length Gold Silver
(m) (m) (m) (g/t) (g/t)
-------------------------------------------------------------------------
DDH-NC-001 13.0 33.6 20.6 0.88 27
and 48.0 58.9 10.9 1.33 39
DDH-NC-002 Surface 38.2 38.2 1.7 20
DDH-NC-003 Surface 69.6 69.6 1.84* 22
including Surface 7.4 7.4 8.8* 122
DDH-NC-004 25.0 46.95 21.95 1.45 21
-------------------------------------------------------------------------
* Interval 2.70m - 3.6m assaying 171 g/t Au was capped at 30 g/t Au for
the purposes of this calculation
The drilling has confirmed the presence of surface/near surface, potentially
economic bulk tonnage mineralization in the upper levels of the mine that
could be amenable to open pit mining.
Geophysics strongly suggests that that a low angle post-mineral fault
intercepted in the drilling, and which juxtaposes the mineralization against
un-mineralized phyllic altered granodiorite at depth, is a feature unique to
the upper level of the mine. It is believed that eastward movement along the
flat fault has displaced the upper mineralized zone to the east from the roots
of the mineralized system represented by the lower levels of the mine. A
strong chargeability - conductivity geophysical anomaly directly underneath
the lowermost underground mine workings is most likely mapping the downward
continuation of the mineralization. Historical underground sampling and
mapping indicates wide intercepts of potentially mineralized hanging wall
granodiorites and argillites exposed in these lower adits.
Further drilling is now required at Nueva California in the area of the old
mine workings and also along the trend of the mineralization where geophysical
anomalies have been defined under alluvial gravel. Permitting for a 3,000m
drill program is underway.
Background
----------
The Nueva California Property is located in the Cordillera Blanca, in
north-central Peru at an altitude of 3,300m a.s.l. approximately 35km due
north from Barrick Gold's Pierina mine. Artisanal underground and open pit
mining operations commenced in 1983 exploiting a series of parallel
northwest-southeast trending epithermal gold-silver mineralized zones, largely
concealed by gravel overburden, with a reported head grade of 8 g/t Au and 120
g/t Ag. Gold and silver are produced on site via a small heap leach circuit
and recovery plant. The mine has never been drilled or systematically
explored. Underground and open pit mining has defined a mineralized zone some
800 m wide, 250 m along strike and open, and to depths of up to 100m.
Focus holds an option to earn 100% of the Nueva California property from the
property owner, a private Peruvian company. The terms of the Option require
exploration expenditures on the Property of US$3 million and cash payments to
the owner totaling US$3 million, over a period of 4 years. To complete the
exercise of the option, Focus must pay the owner US$4 per ounce of gold
defined in the reserve category as determined by a bankable feasibility study,
and for the number of ounces of gold produced during a 6-year period
thereafter that is over and above the number of ounces defined in such a
study, up to a maximum of 2.5 million ounces, or US$10 million. A 1.5% net
smelter return royalty is also payable to Radius Gold Inc. which assigned the
option to Focus.
Technical Drill Hole Summaries
Hole DDH NC-001 (Azimuth 065 degrees, inclination 55 degrees) was drilled
perpendicular to the trend of the underground workings. Moraine gravel and
boulders were drilled to 12.2m followed by strongly weathered and gossanous
regolith consisting of boulders of quartz-sericite altered granodiorite,
hydrothermal vein quartz, siliceous hydrothermal breccias and silicified black
argillite with a variably gossanous clay - mud matrix. Gold values are
moderate and consistent throughout this unit and range from 0.1 to 2.3 g/t Au.
From 35m to 45m a sericitized/argillized intrusive was intersected. Intensely
silicified and hydrothermally brecciated black argillites with an average
grade of 1.33 g/t Au, and individual intervals assaying up to 7.3 g/t Ag and
200 g/t Ag (54.8 - 56m) were drilled from 48m to 58.9m. At 63.10m a low angle
fault truncated the mineralization and juxtaposed it against a strongly
quartz- sericite altered, coarse grained granodiorite intrusive which was
drilled down to end of the hole at 93m.
Hole DDH NC-002 (Azimuth 020 degrees, inclination of 45 degrees) This hole
tested for the downward continuation of the mineralization underneath the old
mine workings. From surface to 15.6m, moraine gravel and boulders consisting
of seriticitized granodiorite, drusy quartz veinlets and minor black argillite
in a gossanous clay - mud matrix was intersected. From 15.6m to 39m bedrock of
intensely siliceous brecciated and gossanous black argillite with local drusy
quartz vein stockworks was intercepted. From 0m to 28.45m the interval
returned an average grade of 1 g/t Au. From 28.45 to 37.10m the average grade
returned was 4.14 g/t Au, including an individual interval of 26.8 g/t Au and
194 g/t Ag from 29.4m to 30.2m. At 39m the same low angle fault intercepted in
DDH-NC-01 was intersected and the mineralization was truncated. The same
altered footwall granodiorites were drilled in the footwall of the fault until
the end of the hole at 90m.
Hole DDH NC-003 (drilled from the same platform as DDH NC-002, azimuth of 070
degrees, inclination 45 degrees) This hole was drilled to determine the
attitude of the low angle fault encountered in the previous holes. The same
mixed moraine unit with an average grade of 8.8 g/t* Au and 122 g/t Ag was
intercepted to depth of 7.4m. The higher grade was attributed to boulder of
gossanous hydrothermal breccia from 2.7m to 3.6m, which is possibly a remnant
of an eroded gossan cap that assayed 171 g/t Au and 816 g/t Ag (*capped at 30
g/t Au for the purposes of this calculation). Down hole from 7.4m to 69.9m the
same heterolithic unit intersected in DDH-NC-001 consisting of phyllic altered
and weathered granodiorite, granodiorite with quartz vein stockwork and
silicified and brecciated argillites was intersected. This mineralized unit
assayed 1.84 g/t Au from surface to 69.6m, with the highest assay of 171 g/t
Au between 2.7m to 3.6m cut to 30 g/t in the weighted average grade
calculation. Uncapped, the same 69.6m interval assays 3.66 g/t Au. Underground
workings were encountered from 35.1m to 37.25m, and in several places from
62.9m to 70.6m. In some cases, narrow intercepts of wood with no core loss
indicated complete collapse of the workings.
Hole DDH NC-004 (108m north-east of DDH NC-002 & 003, azimuth 005 degrees,
inclination 45 degrees) Drilled oblique to the trend of the underground
workings in order to penetrate the southeast extension of the zone underneath
the mine workings. From surface to 27.6m the hole cut fresh granite boulders
within fluvio-glacial gravels. From around 27.6m to 46.95m a mineralized
sequence of black silicified argillites and altered granodiorites were
drilled. From 46.95m to the end of the hole (120m) barren footwall altered
granodiorite was drilled. The low angle fault gouge as intersected in the
previous holes was not encountered suggesting that the mineralized hangingwall
unit may have undergone some gravitational sliding.
Sampling Quality Analysis and Quality Control
The drill program and drill core sampling, including the Quality
Assurance/Quality Control program was supervised by David Cass, PGeo, Focus's
President, and Mark Slauenwhite, Focus's Exploration Manager. Core was first
split in half using a diamond core splitter and then logged, and each box
photographed prior to sampling. Half-core samples were bagged, security-sealed
and transported by Focus personnel to ALS Chemex laboratories in Lima for
analysis. 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 the insertion of blind certified reference material and blanks into
the sample stream at regular intervals by Focus personnel in order to
independently assess analytical accuracy. Finally, representative sample pulps
are forwarded to an ISO-compliant third party laboratory for additional
quality control.
Qualified Person
----------------
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.
About Focus Ventures
Focus Ventures was recently listed on the TSX Venture Exchange, and currently
has 19.3 million shares issued. It has assembled an experienced technical team
of geologists and consultants with superior knowledge and operational
capabilities in Peru to search out quality gold projects. Focus's strategy is
to identify and acquire former producing mines or un-tested advanced gold
properties that show potential to become new mines.
ON BEHALF OF THE BOARD
"David Cass"
David Cass, President
Investor relations: Erin Ostrom / Ralph Rushton
Symbol: TSXV-FCV
Shares Issued: 19.3-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Focus Ventures Ltd.
on Focus Ventures Ltd., please call (604) 688-5288 or visit our web site
(www.focusventuresltd.com)
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