Focus Files Updated PFS Technical Report
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 5, 2016) - Focus Ventures Ltd. (TSX VENTURE:FCV) advises that it has filed on SEDAR a NI 43-101 compliant technical report on its Updated Pre-Feasibility Study ("Updated PFS") for the Company's Bayovar 12 phosphate project located in Peru.
As announced on May 16, 2016, the Updated PFS replaces the earlier pre-feasibility study filed in February 2016, and contains the following key changes-in-scope which significantly improve the financial performance of the project:
- one large processing plant instead of the staged commissioning of two smaller ones
- owner-operated instead of contractor-operated overburden stripping
- doubling of pre-production overburden stripping
- a simplified mine plan and production schedule
- larger and more efficient loading and hauling equipment
- a more logical and staged buildout of the tailings storage facility
A summary of the Updated PFS is contained in Focus's May 16, 2016 news release, and the full Report is available for review on the Company's website and at www.sedar.com.
Qualified Person
The information presented in this press release was reviewed by 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.
About Focus
Focus is developing the Bayovar 12 phosphate deposit located 40 km from the coast in the Sechura District of northern Peru. Bayovar 12 hosts a large resource of highly-reactive sedimentary phosphate rock - a key raw material input for fertilizers and vital to world food production. Reactive phosphate rock from Sechura is a natural, slow-release source of phosphorus that can be applied directly to crops. Focus aims to supply direct application phosphate rock to the nearby agricultural regions of South and Central America, the fastest growing fertilizer market in the world.
For further information, please call 604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Simon Ridgway, Chief Executive Officer
| Symbol: TSXV-FCV |
| Shares Issued: 120.4-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 Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Company's Bayovar 12 project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors relate to, among other things, information regarding the Company's plans for the Bayovar 12 project; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals for the Bayovar 12 project will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Contact
David Cass
778-785-9486
604-682-1514
info@focusventuresltd.com
www.focusventuresltd.com
