| ||Wed Feb 2, 2005|
Firestone Ventures Announces Expansion of Amazing Grace Property
| ||Feb. 2/2005 - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce expansion of its Amazing Grace property 15 km southeast of Castlegar, British Columbia, Canada. The initial 32-unit (800-hectare) property hosts three major mineralized showings: the High Grade, Cordierite, and "Maude S" prospects. The latter produced 330 oz (10,265g) gold and 57 oz (1,772g) silver from 159 tons (144 tonnes) of ore from 1936-1941 (B.C. Minfile, 2004). The property is characterized by excellent access to road, rail and electrical facilities and is only 35 km from the TeckCominco smelter at Trail, British Columbia. |
A short exploration program in September 2004 confirmed the style and grade of mineralization identified from past exploration results (news release dated November 4, 2004). Results included values of 81.3 g/t gold (2.37 oz/ton) with 53.4 g/t (1.56 oz/ton) silver from a 0.55m chip sample at the High Grade prospect. At the Maude S prospect, values from three grab and composite grab samples ranged from 1.415 g/t gold (0.04 oz/ton) to 8.12 g/t (0.24 oz/ton) gold.
An additional 147 cells comprising roughly 2,950 hectares were added to cover favourable structural zones, particularly near the Maude S gold prospect. This contiguous block now also covers several prospective base and precious metal showings, including copper-molybdenum-tungsten mineralization. Firestone is encouraged by the wide variety of mineral prospects within the Amazing Grace property.
Firestone is preparing for the 2005 exploration program, consisting of a Phase 1 surface exploration program, including detailed geological and structural mapping of known prospects and follow-up exploration of numerous geochemical anomalies. A follow-up Phase 2 diamond-drilling program will test several of the most prospective targets identified from Phase 1 results.
This news release has been reviewed by Carl Schulze, BSc, PGeo, Qualified Person for the property, in accordance with regulations under National Instrument 43-101. Analysis of all samples was performed by ALS Chemex Laboratories of North Vancouver, B.C. The historic production figures have not been audited or verified by Firestone Ventures.
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. To view a fact sheet on the Amazing Grace property or other projects, please visit www.firestoneventures.com.
For further information, please contact:
Lori Walton, President
Toll Free: 1-888-221-5588;
Fax: (780) 428-3476
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 Mar 1, 2005, New Exploration Targets Identified on Firestone Ventures Amazing Grace Property
You can view the Previous News Releases item: Tue Jan 18, 2005, Firestone Ventures signs Agreement with North American Gem on Louise Lake Copper-Gold-Molybdenum Project, B.C.
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