VANCOUVER, Feb. 20, 2012 /PRNewswire/ – Focus Ventures Ltd. (TSXV: FCV.V) is gratified to publicize that new subterraneous sampling and solid training at its Minas Chanca plan by Compaia de Minas Buenaventura (NYSE: BVN, ” Buenaventura “) has returned excavation china grades of up to 9.3kg/t Ag over 35cm in subterraneous drilling. Underground duct sampling along a few of the veins returned a most appropriate interlude is to Candelaria artery of 761g/t Ag +2.46% Pb + 2.25% Zn over 87m set upon length and an median artery density of 60cm.
Focus’s associate on the project, Compaia de Minas Buenaventura (NYSE: BVN, “Buenaventura”), is right away commencement work on a resource determination for a few of the high rank shoots identified by the new sampling.
Buenaventura is endeavour a minute subterraneous and aspect scrutiny module inclusive 6,816m of solid training to date. Surface training has identified extensions to the Santo Toribio and Santo Rosa artery network a few 300m west of the of the aged ancestral workings in an area secluded by colluvial cover.
Highlights of the new training include:
* Drilled core interval. True widths have not nonetheless been supposing but are approaching to close to the cored interval.
BVN are formulation to rise a cross-cut from the 440 Level principal art studio a few 375m to cut the high-grade veins drilled in holes 11-02, 11-04, 11-07 and 11-08.
Underground Development
Underground mapping and sampling has successfully identified the height and set upon delay of bonanza-grade shoots that are conventional of the grades mined historically in the top levels at Chanca. Highlights of the sampling are as follows:
To date, over 2,000m of tunnels have been rehabilitated over 3 levels, inclusive Level 440 that was the principal access art studio used in the 1980′s when the cave was in production, and the Level 400 that accessed the principal high-grade Candelaria vein. The lowest gallery, Level 365 is currently being de-watered and rehabilitated to access the Candelaria West artery for exploration: this artery returned high rank china mineralization along Levels 440 and 400.
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Several high-grade shoots have already been shut off out along the Candelaria and Tarazca veins, and resource determination will begin once all assays have been received. The high grades sampled on the Tarazca artery along Level 440 will be explored by subterraneous growth to the southwest and at height by subterraneous training to clear serve scrutiny by subterraneous growth along the 400 Level.
Buenaventura have outlayed roughly $2.5 million of the $3 million investment commitment compulsory to consequence a 75% fascination in Minas Chanca project, inclusive finishing of a 17km graded access thoroughfare from Minas Chanca to their available Mallay cave and mill.
Once Buenaventura vests its 75%, they will have a time of 12 months to pick up Focus’s 25% participating fascination by profitable Focus the larger of $4 million in money or $4.00 /oz Ag formed on resources summarized in a NI 43-101 agreeable technical report. If Buenaventura chooses not to buy Focus’s 25% share of the joint venture, Focus will have the choice to elect to have Buenaventura give financing, with repayments to be done by dividends, or otherwise Focus can select its own financing. A 2% Net Smelter Royalty will be on credit to Focus on future production, theme to a buy-out stipulation of $1 million.
Minas Chanca is high-grade past-producing china cave located in the Central Peru Polymetallic Belt. It lies inside of the prolific Central Peru Polymetallic Belt, a few 160km north of the Peruvian capital, Lima and 65km north of Focus’s Santa Rosa property.
References to mining at Minas Chanca date back to 1712 during Spanish Colonial times. Commercial prolongation took place from 1975 with a 180 tonne per day plant and shut down in 1985 due to low china prices and labor disputes. The majority of chronological silver-lead and zinc ore came from the Candelaria, Tarazca and Santo Toribio veins, where early prolongation reportedly yielded grades of 15 – 25 oz Ag/t.
Additional data on the Minas Chanca plan may be found on the Focus website: www.focusventuresltd.com .
Qualified Person
Mr. David Cass, Focus’s President, is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and is Focus’s “Qualified Person” in conformity with NI 43-101. Mr. Cass has accurate that the technical data in this let go is an accurate outline of the data supposing by Buenaventura to Focus; however, Focus has not exclusively accurate the data supposing by Buenaventura.
Sampling Quality Analysis and Quality Control
Samples were ready and analyzed at ALS Chemex laboratories in Lima. Peru. Silver was gritty by multi-acid digestive process and ICP-AES, with glow test gravimetric finish. Lead and zinc were gritty by ICP with Atomic Absorption with volumetric finish. ALS Chemex’s high quality manage network complies with International Standards ISO 9001:2000 and ISO 17025:2005. Analytical accurateness and precision are monitored by the review of reagent blanks, anxiety element and replicate samples.
About Focus Ventures
Focus Ventures is appropriation advanced, drill-ready projects in Peru and Mexico. Backed by an gifted technical group of geologists and consultants, Focus’s strategy is to pick out and pick up one-time producing mines or untested bullion and china and bottom steel properties that uncover prospective to turn new mines. For serve information, greatfully call 604-688-5288 or revisit our web site www.focusventuresltd.com .
ON BEHALF OF THE BOARD
“Dav id Cass”
David Cass, President
Symbol: TSXV-FCV
Shares Issued: 36.4-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts shortcoming is to satisfactoriness or accurateness of this release.
Forward-Looking Statement
Some of the statements in this headlines let go enclose forward-looking data that involves fundamental danger and doubt inspiring the business of Focus Ventures Ltd. Actual results may deviate materially from those currently anticipated in such statement.
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