|
July 24, 2008 - Firestone Ventures Inc.
(FV:TSX-V;F5V:FSE) would like to announce results from the final 16 drill
holes from the Company's most recent drill program at its Torlon Hill
high grade zinc-lead project in western Guatemala. A total of 36
holes totaling 3,458.7 metres were drilled to depths ranging from 19.81
metres to 185.97 metres. Highlights from the latest results include
a significant expansion of high-grade zinc on the west side of Torlon
Hill and identification of highly anomalous, up to ore-grade zinc and
lead values (3.40% zinc and 6.10% lead in hole TH08-93) in the first
round of drilling targeted on soil geochemistry anomalies. Hole
TH08-93 is 150 metres south of previously drilled mineralization.
Significant intersections from drill holes TH08-86A to TH08-101 are
listed below. Due to the shallow dip of the mineralization, the
true thickness of reported intersections is approximately 95% of the
given core length.
|
Hole Number
|
Total Depth of Hole
(metres)
|
From (metres)
|
To
(metres)
|
Width (metres)
|
Zn
(%)
|
Pb
(%)
|
Ag
(g/t)
|
|
TH08-88
|
149.35
|
56.00
|
74.00
|
18.00
|
5.08
|
3.69
|
31.00
|
|
|
including
|
68.00
|
72.00
|
4.00
|
13.18
|
5.37
|
27.00
|
|
|
|
86.00
|
104.00
|
18.00
|
6.85
|
2.69
|
18.00
|
|
|
including
|
90.00
|
94.00
|
4.00
|
16.15
|
1.15
|
17.00
|
|
TH08-89
|
147.52
|
50.00
|
56.00
|
6.00
|
5.39
|
1.88
|
14.00
|
|
|
|
96.00
|
98.00
|
2.00
|
0.19
|
3.29
|
9.00
|
|
TH08-90
|
156.66
|
68.58
|
71.62
|
3.04
|
13.71
|
3.96
|
74.00
|
|
|
including
|
68.58
|
70.10
|
1.52
|
23.20
|
4.91
|
137.00
|
|
|
|
89.91
|
91.44
|
1.53
|
1.48
|
1.34
|
41.00
|
|
TH08-93
|
91.46
|
53.64
|
55.00
|
1.36
|
3.40
|
6.10
|
15.00
|
Detailed drill hole specifications, significant intersections, a drill
hole location map, previous news releases, project summary and photos are
available at www.firestoneventures.com.
"This is an excellent finish to the drill program.
Especially encouraging are the high grades and thicknesses in holes 88,
89 and 90, which significantly expand the zone of buried zinc
mineralization. Also encouraging is the intersection of ore-grade
mineralization in the south part of Torlon Hill," says Lori Walton,
President of Firestone Ventures Inc.
Holes TH08-88, 89, and 90 were designed to offset the zinc-lead
mineralization intersected in hole TH07-53. All three holes had
significant intersections of ore-grade zinc-lead mineralization, which
are summarized in the table above. These results confirm and extend
the zone encountered in hole 53 to the north and south. Holes
TH08-86A and 87 encountered a zone 64 to 68 meters thick with strongly
anomalous zinc + lead ranging from 1,000 ppm to 8,700 ppm (0.1 to
0.87%).
Holes TH08-91 to 101 were drilled farther to the south to test surface
zinc and lead soil anomalies. The holes were spaced 50 to 100
meters apart in order to make a first pass test of the soil anomalies, which
extend 400 meters south of the Torlon mineralization. Hole TH08-93
intersected 1.36 meters of 3.40% zinc and 6.10% lead. The remaining
holes all intersected zones of strongly anomalous zinc and lead ranging
from 1,000 ppm to 6,500 ppm zinc + lead (0.1 to 0.65%).
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.
This news release has been reviewed and approved by J. Cleary, CPG,
Qualified Person and by Al Workman, P.Geo., Vice President of Watts,
Griffis and McOuat Limited. 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. Sample
preparation, quality control and analytical techniques have been
described previously (see March 19, 2008 news release). All samples
were analyzed by ALS Chemex in Vancouver, B.C.
Firestone Ventures Inc. is a well-financed Canadian-based resource
exploration and development company. The common shares of the
Company are currently listed on the TSX Venture Exchange (symbol FV) and
the Frankfurt Stock Exchange (symbol F5V). For further information
please contact:
Lori Walton, P. Geol., President
Toll Free:
1-888-221-5588 Fax: (780) 428-3476
info@firestoneventures.com
www.firestoneventures.com
Trading Symbol: FV: TSX-V;F5V: FSE
For Investor Relations please call: Contact Financial Inc. at
(604) 689-7422
Investors can also visit www.agoracom.com/IR/Firestone
or email questions to FV@agoracom.com.
|
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release
|
|