| ||Wed Dec 8, 2004|
Firestone Ventures Finalizes Agreement for Zinc Project in Guatemala
| ||(Dec. 8, 2004) - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce it has signed a formal agreement to purchase a 100% interest in the Torlon Hill high grade zinc prospect near Huehuetenango, 250 km west-northwest of Guatemala City. Torlon is well situated in terms of access to Pacific Region zinc markets. The 16 hectare property is road accessible and has easy access to electrical power. |
The Torlon project is a drill-ready high grade zinc prospect with excellent exploration potential. Zinc oxide-style mineralization (smithsonite) extends over a 100m x 700m area known as the "Santa Rosa Corridor" (see Nov. 19, 2004 press release). Torlon is one of a small number of zinc oxide-style occurrences world-wide that may be amenable to innovative, low cost types of processing technology that can produce zinc metal on-site. To view a fact sheet on the Torlon property and property photos, see www.firestoneventures.com.
Firestone is working on a detailed budget and drill program designed to confirm and delineate the mineralized structures on Torlon Hill and explore for new zones of high-grade zinc. In addition, the company is also researching various processing technologies and potential development partners.
Total purchase price of the Torlon mineral property is US $385,000. Firestone paid US $2,000 to the owners on signing and must pay the remaining optional purchase payments according to the following schedule; US $18,000 by April 30, 2005, US $25,000 by April 30, 2006, US $35,000 by April 30, 2007, US $125,000 by April 30, 2008 and US $180,000 by November 30, 2008. The agreement is subject to regulatory approval.
Firestone is well-positioned to take advantage of strong commodity prices for gold, silver, zinc, copper and antimony. Firestone Ventures Inc. is a public company listed on the TSX-Venture Exchange. The company's mandate is the acquisition and exploration of a diverse portfolio of high quality precious metal, base metal and gemstone properties.
For further information, please contact:
Lori Walton, V.P. Exploration and Business Development
Toll Free: 1-888-221-5588
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
You can view the Next News Releases item: Tue Dec 14, 2004, Firestone Ventures Signs Letter of Intent with North American Gem on Louise Lake Copper-Gold-Molybdenum Project, B.C.
You can view the Previous News Releases item: Fri Nov 19, 2004, Firestone Ventures Signs Letter of Intent for Zinc Project in Guatemala
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