HOUSTON (ICIS)--Canadian fertilizer developer Focus Ventures announced on Tuesday that additional drilling at the Bayovar 12 phosphate project in Peru has intersected similar geology and phosphate mineralisation discovered during its first campaign.
Company officials said that the five holes were drilled vertically to between 80-110 metres in depth to target horizontal phosphate beds along a west to east section of the project site and that the assay results demonstrates the presence of high quality resources with a phosphate content similar to the resources currently being mined by Vale at its nearby facility.
“This third batch of results again emphasizes the continuity of the phosphate beds across the drill grid to date with the mineralization wide open on all sides. As in previous sections we are seeing grades of around 15% within the first 5 beds, which we believe are the same as those currently being mined by Vale,” said David Cass, Focus president.
The Bayovar district is located in northern Peru, within in the Sechura Desert which is a north-trending basin covering approximately 22,000 sq km, and is a region where phosphate was discovered in the 1950s during drilling for petroleum.
Vancouver-based Focus is centered on acquiring and developing phosphate fertilizer projects in Latin America given the growing demand and limited local supply. Its concession at Bayovar 12 has a geological target size between 100-150m tonnes of phosphate rock.
Focus expects to complete a maiden resource estimation for the project by Q3 and in May hired the firm of Golder Associates to undertake the resource work as soon as the drilling results are finished.