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From The Agoracom Team
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EDMONTON, ALBERTA - (March 19, 2008) - Firestone Ventures Inc. (TSX VENTURE: FV) (FRANKFURT: F5V) is pleased to announce results from the first seven of 21 drill holes completed to date at the Company's Torlon Hill high-grade zinc-lead project, situated in western Guatemala. A total of 1,536 metres of the planned 3,700 metre winter 2008 drill campaign has been completed. The drill program, now on a two-week break for Easter, will be on-going until June, 2008. A total of 4,935 metres was drilled previously in 2006 and 2007.
Highlights from the new drill results include:
- Hole TH08-65 15.3 metres of 10.1% zinc and 2.6% lead, including 2.7 metres of 25.6% zinc and 5.0% lead
- Hole TH08-70 56.4 metres of 4.3% zinc and 1.8% lead, including 11.0 metres of 11.2% zinc and 1.8% lead
- Hole TH08-71 11.8 metres of 8.3% zinc and 2.1% lead, including 6.4 metres of 12.7% zinc and 1.5% lead
"These seven vertical holes were drilled at close spacing along the northwestern limit of previous drilling. We drilled into unmineralized dolomite breccia and we are obviously very pleased to intersect high-grade zinc and lead that has no surface expression," says Lori Walton, President of Firestone Ventures Inc. "Besides the high-grade zinc results, we also note significant amounts of lead. The current price for lead has increased during the past few years to over US $1.30/lb."
Highlights from the drill results include:
Drill Hole TH08-65 is an in-fill hole collared within 25 metres of previous drill hole TH06-34 (1.7 metres of 5.18% zinc). Individual assays from drill hole TH08-65 ranged up to 42.8% zinc, 8.2% lead and 49 g/t silver over 1.2 metres. Drill holes TH08-69, 70 and 71 were step-out holes 25 metres west of previously drilled holes TH06-06, 29 and 31. Results from drill holes TH08-66, 67 and 68, drilled to the northwest returned generally low values and encountered mainly serpentinite. A map showing the drill hole locations is available at www.firestoneventures.com, along with drill hole specifications.
Mineralization at the intensely oxidized Torlon Hill deposit consists largely of smithsonite (a zinc carbonate mineral) cross-cut by galena (lead sulphide) veinlets. The deposit is contained within a shallowly southeast-dipping body measuring approximately 400 metres long, 20 to 100 metres wide and up to 30 metres thick. Previous high-grade drill intersections include 25 metres of 26.77% zinc, 1.42% lead, 5.98% silver and 53.3 metres of 9.66% zinc, 1.86% lead and 12.21 g/t silver (see news release dated Oct. 4, 2007). Most mineralization defined by drilling to date occurs on or near surface. The deposit is still open to expansion, mainly to the west and south.
Laboratory Analyses and Quality Control
Drill core is stored in a secure facility at the Company's offices near the property. After logging and cutting, the samples are placed in secure, sealed fabrene bags and transported by Firestone Ventures staff to the BSI Inspectorate facility in Guatemala City for preparation. Firestone geologists are inserting blanks for quality control purposes. Following preparation, 200 to 250 grams of pulverized sample is shipped by courier directly to ALS Chemex, North Vancouver, British Columbia, Canada for analysis. Samples are subjected to a 4-acid digestion and are analyzed for 27 elements by ICP-AES. Overlimit zinc and lead analyses are further analyzed by atomic absorption methods, with an upper analytical limit of 30%. Samples which contain in excess of 30% zinc and lead are re-analyzed using titration. This multi-stage analytical procedure ensures that an appropriate analytical method is used to produce reliable data at all concentration levels. It also offers repeat analyses to protect against gross analytical error.
This news release has been reviewed and approved by J. Cleary, CPG, and Qualified Person and by Al Workman, P.Geo., Vice President of Watts, Griffis and McOuat Limited. For additional information on the Torlon zinc-lead project including previous news releases, please visit www.firestoneventures.com. The road-accessible Torlon Hill project is located 18 kilometres northwest of the city of Huehuetenango, which is situated on the Pan-American Highway in western Guatemala.
Firestone Ventures Inc. is a well-financed Canadian-based resource exploration and development company with zinc, gold and uranium projects in Western Canada and Central America. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION: Firestone Ventures Inc. |
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Lori Walton provides an update on Torlon Hill, a high-grade zinc-lead project situated in Guatemala
