VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 07/29/13 — Focus Ventures Ltd. (TSX VENTURE: FCV) is pleased to announce that its Colombian partner has submitted applications to acquire 44,500 hectares of non-metallic mining claims over rocks prospective for phosphate mineralization. Focus can acquire the claims under the terms of a Strategic Agreement announced previously (see company press release January 17th, 2013).
Focus-s partner applied for claims covering areas of prospective geology and phosphate showings in the departments of Boyaca and Huila after the Colombian National Mining Agency lifted its moratorium on new claim applications. The areas were identified after regional reconnaissance and sampling by Focus, including work along the strike extension of the Company-s high-grade Maria Luisa phosphate project.
Through its subsidiary, Agrifos Colombia Corp., Focus will have the option to acquire a 100% interest in those granted claims from its Colombian partner under the same terms as its Maria Luisa option which was announced in January. Management anticipates that it will be several months before the Company is notified by the authorities about the success of the applications.
Focus and Phosphates
Focus, through its subsidiary, Agrifos, is acquiring and developing quality phosphate projects in Latin America where the discovery and development of new deposits is becoming increasingly important given the expanding agricultural industry and limited local supply of phosphate for fertilizer production.
In May 2013 Focus signed a Letter of Intent with Stonegate Agricom Ltd. whereby Focus has the right to acquire, subject to successful due diligence, a 70% interest in the Mantaro phosphate deposit in Peru. Other projects acquired include the Machay and Quebranta properties, also in Peru, and the Maria Luisa phosphate project in the Department of Boyaca, Colombia.
Phosphate is a key nutrient used in the manufacture of fertilizers, and demand is increasing due to the world-s growing population, less availability of arable land and the need for higher crop yields.
Qualified Person
The scientific and technical information in this release was prepared for Focus 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. Mr. Cass has reviewed and approved this release.
For further information, please call 604-688-5288 or visit our website .
ON BEHALF OF THE BOARD
David Cass, President
Symbol: (TSX VENTURE: FCV)
Shares Issued: 40.1-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Focus Ventures Ltd. Actual results may differ materially from those currently anticipated in such statements.
Contacts: Focus Ventures Ltd. Ralph Rushton (604) 688-5288 (604) 682-1514 (FAX)
Only registered users can comment.
