| ||Tue Sep 5, 2006|
Firestone Ventures Defines Multiple Gold-Copper Drill Targets on Sonora Property, Yukon
| ||Sept. 5/2006 - Firestone Ventures Inc. (FV:TSX-V, F5V:FSE) is pleased to announce that the Phase One field program consisting of geophysical surveying, geological mapping and geochemical sampling at the Company's Sonora property in Yukon, Canada successfully identified three high-priority gold and copper-gold targets. These will be drill-tested in the upcoming Phase Two diamond drilling program, to commence early September, 2006. The 2,016 hectare (4,980 acre) Sonora property is located within 25 kilometres of a seasonal access road and within 40 kilometres of Sherwood Copper's Minto copper-gold project, currently in development. |
"Camp construction at Sonora has commenced and we should have the drill turning in early September", says Lori Walton, President of Firestone Ventures Inc. "Our mandate is the integration of historical data sets with our new exploration results to increase the tonnage potential on the property. We like the location of Sonora, being in an established gold-copper-silver mining district, and we look forward to testing the new targets."
The drill program will consist of 12 drill holes totaling 2,335 metres, targeting three strong gold or copper-gold soil geochemical anomalies identified from the Phase One surface exploration program. A map showing the drill zones is available at www.firestoneventures.com
The Amadeus Zone is a new gold discovery located east of Hayes Creek. It is hosted by strongly altered intrusive rock and adjacent volcanic country rock. This zone, at least 700 metres long and up to 250 metres wide, is associated with several strong gold soil anomalies with values exceeding 100 ppb gold and commonly exceeding 250 ppb gold.
The "Wolfgang Anomaly", associated with the Amadeus Zone, is defined by soil sample values ranging from 453 to 2340 ppb gold with strongly anomalous bismuth and anomalous copper.
The Figaro Zone is located within a strong coincident copper-gold anomaly identified from soil sampling, with values ranging from 220 to 1120 ppm copper, and from 118 to 264 ppb gold. Rock sampling from within the zone returned anomalous copper and molybdenum values; one grab sample of a 15-cm quartz-molybdenum vein in outcrop returned a value of 0.46% molybdenum.
The "Jupiter Anomaly" is a strong gold soil anomaly with values exceeding 100 ppb gold across a 600-metre strike length along the north side of Little Klines Gulch, 500 metres northwest of the Figaro Zone. Soil sampling also revealed a coincident copper anomaly with values exceeding 250 ppm copper across a 900-metre strike length.
The Amadeus and Figaro Zones are coincident with geophysical anomalies. Geophysical surveying also suggests that the "Big Creek Fault" extends through the Jupiter Anomaly, providing a favourable setting for mineral emplacement.
The 2006 Phase One program (see news release June 7, 2006) consisted of 11.7 line-km of "Induced Polarization" surveying (extending the 10.0 line-km completed in 2005); roughly 20 line kilometres of surface magnetometer and "VLF-EM' surveying, and a detailed systematic soil geochemical survey comprised of 652 samples. Abundant rock sampling (124 samples) and silt sampling (26 samples) was also done, as well as comprehensive geological mapping. The geophysical surveying was conducted by Aurora Geosciences Ltd. of Whitehorse, Yukon. Firestone Ventures has contracted Kluane Drilling Ltd. of Whitehorse, Yukon for the fully permitted drill program. The project is managed by Carl Schulze, PGeo, of All Terrane Mineral Exploration Services.
The Sonora property is hosted in the prospective Dawson Range copper-gold-silver-molybdenum mining district in Yukon Terrtory, Canada. The rich mineral belt also includes the Minto, Carmacks Copper and Casino deposits. Both historic and recent placer gold mining have occurred along Little Klines Gulch and Sonora Gulch within the Sonora property. Angular gold nuggets, tetradymite (a bismuth telluride mineral), galena and scheelite have been recovered from placer concentrates. The Sonora property was previously explored in the 1970s and 1980s targeting porphyry-style copper-gold mineralization and vein-style gold mineralization.
The Sonora property is characterized by easy access. The property is located along the "Casino Trail" extending from an all-weather road located roughly 25 kilometres to the south, allowing for wintertime haulage of equipment and supplies. In addition, the Yukon government is considering the development of the Carmacks-Stewart Transmission Project which would provide electrical grid power to the area.
This News Release has been reviewed and approved by Carl Schulze, BSc, PGeo, Qualified Person for the property, in accordance with regulations under National Instrument 43-101. All sample analysis was done by ALS Chemex Laboratories of North Vancouver, British Columbia, Canada.
Soil and silt samples underwent 30-gram fire assay analysis for gold, rock samples underwent 50-gram fire analysis; and all samples were subjected to 34-element ICP analysis. Firestone Ventures is earning an 80% interest in the Sonora property. A fact sheet on the Sonora property, a regional location map, and drill hole location map are available at www.firestoneventures.com.
Firestone Ventures Inc. has a portfolio of high quality zinc, uranium and gold properties. For further information please contact:
Lori Walton, P. Geol., President
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
Trading Symbol: FV: TSX-V; F5V: FSE
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
You can view the Next News Releases item: Wed Sep 13, 2006, Firestone Ventures Announces Key Appointment to Advisory Board
You can view the Previous News Releases item: Wed Aug 9, 2006, Firestone Ventures Mobilizes Field Crew to the Morris Gold-Silver-Antimony Property, B.C.
You can return to the main News Releases page, or press the Back button on your browser.