| ||Thu Nov 9, 2006|
Firestone Ventures Commences Drilling at the Torlon Hill High-Grade Zinc Project
| ||November 9, 2006 - Firestone Ventures Inc. (FV:TSX-V, F5V:FSE) is pleased to announce that the 2006/2007 winter exploration program is now underway at the Company's Torlon Hill high-grade zinc project, Guatemala. The road-accessible Torlon Hill project is located 18 road kilometres northwest of the city of Huehuetenango, which is situated on the Pan-American Highway in western Guatemala. |
The 2006/2007 drill campaign has three main priority objectives: expansion of the mineralized zone, in-fill drilling between holes completed during Firestone's initial drilling campaign, and improved delineation of deposit geometry. A total of 25 to 30 drill holes comprising 2,200 metres are planned for the current program and $1.2 million has been allocated to the project, which includes detailed geological mapping, sampling and prospecting of prospective terrain and continuation of the ongoing environmental baseline studies.
"We are very excited to be starting this winter's exploration program at Torlon Hill." says Lori Walton, President of Firestone Ventures. "Once again, the high quality of work by our local partners towards improved access, drill site preparation and moving equipment and supplies on to the site enabled us to start on schedule. Market conditions for zinc remain strong."
The winter 2006/2007 drill program will consist of three phases and is expected to last approximately five months. A drill hole location map showing previous drill holes, a long section sketch, previous drill results, a FAQ sheet and photos are available on www.firestoneventures.com. The drill program and phasing of holes outlined below is subject to change as additional information is obtained and interpreted by the Company's geological team during the course of the program.
In-fill holes will be drilled in the area of significant previous drill intersections. This will further define the geometry and extent of high-grade zinc and lead mineralization.
Step-out holes will be drilled to the north to test a potential 100-metre extension of zinc mineralization intersected in previous drill hole TH06-02 (33.0 metres of 22% zinc, including 17.1 metres of 31.9% zinc). A number of in-fill holes planned for the southern area (previous drill holes TH06-16 to TH06-21) will further define the character and geometry of the mineralization.
The third phase of drilling will consist of step-out drill holes towards the west and southwest to test two compelling targets; reported zinc mineralization at La Canada adits on the west side of Torlon Hill and a new zone of lead, zinc and silver defined in the newly mapped Cinco Hermanos underground workings, The Cinco Hermanos workings extend southwest of previously drilled holes TH06-9, TH06-10 and TH06-11 (see News Release dated October 19, 2006).
Geology and Previous Drill Results
Zinc mineralization (smithsonite) at Torlon Hill is hosted by brecciated Permian carbonates thrust over a serpentinized basement sequence at the boundary between two tectonic plates. The depth to the flat-lying thrust fault varies from 25 metres to >100 metres. This "tectonic crush zone" is pervasively mineralized with zones returning in excess of 10% and locally up to 40% zinc.
In early 2006, Firestone Ventures Inc. conducted the first drilling ever carried out at Torlon Hill. Drill holes TH06-01 to TH06-10, TH06-12 to 14 and 16 intersected economically significant oxidized zinc mineralization across a NW-SE distance of approximately 200 metres. Significant intercepts are described in previous news releases and include: 33.0 m of 22% zinc, including a 17.1 m interval of 31.9% zinc (Hole TH06-2), 51.8 m of 10.2% zinc (Hole TH06-13) and 46.7 m of 12.5% zinc (Hole TH06-14).
The area of high-grade mineralization remains open to the west and north. In addition, a new zone of lead, zinc and silver was defined when Firestone surveyed the extent of previously unsampled underground workings (see News Release dated Oct. 19, 2006). The Cincos Hermanos workings extend 160 metres southwest and consist of abundant galena, smithsonite, cerrusite and iron oxide. Results of underground chip samples of high-grade zinc, lead and silver mineralization show that the Cincos Hermanos area, located southwest of previous drill holes TH06-9, TH06-10 and TH06-11 continues to be highly prospective.
This news release has been reviewed and approved by John Cleary, (CPG), Qualified Person for the Torlon Hill project in accordance with regulations under National Instrument 43-101. Al Workman, P.Geo., Vice President of Watts, Griffis and McOuat Limited is also consulting on the project and brings considerable oxide zinc exploration experience. The recent appointment of Kristian Ross to Firestone Ventures Advisory Board (see News Release Sept. 13, 2006) brings additional management, and mine development and production expertise to this highly qualified exploration team including experience in exploring and developing non-sulphide zinc deposits. Kluane International Drilling is the drill contractor, supplying a portable, hydraulically driven modular diamond drill, producing "NTW" size (2.248 inches) drill core with minimal environmental impact. Gartner Lee Limited, from Calgary, Alberta Canada is providing environmental consulting to the project.
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). 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
For Investor Relations please call: Contact Financial Inc. at (604) 689-7422
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
You can view the Next News Releases item: Fri Dec 1, 2006, Firestone Ventures Updates Torlon Hill Zinc Project Drill Program
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