The project consists of 27,000ha acquired by direct staking, and 450ha more were bought under an option agreement signed with a local firm and Focus’ subsidiary Agrifos Peru.
Agrifos will have the option to buy 100% of the 450ha property by paying $200,000 over three years.
The latest deal is the firm’s second Peruvian phosphate acquisition in addition to the Machay project located in central Peru.
Focus Ventures said the phosphate mineralization is hosted within a sequence of Miocene sediments comprising predominately diatomite with tuff and mudstone intercalations.
The company, which is involved in discovering mineral deposits, is developing a portfolio of silver, gold, copper and phosphate properties in Peru and Mexico.
