| ||Thu Sep 23, 2010|
Firestone Ventures Defines 4 km Zinc Corridor on Antelope Property, Nevada
| ||September 23, 2010 - Firestone Ventures Inc. ("Firestone" or the "Company") (FV:TSX-V; F5V:FSE) is pleased to announce that a surface exploration program consisting of geological mapping and rock and soil sampling at the Company's Antelope zinc-lead-silver project in Nevada has defined high-grade zinc mineralization over an area 700 m by 250 m (Lodestar Zone) within a larger 4 km long anomalous zinc-lead-silver north-trending corridor. The road-accessible Antelope zinc-lead-silver property is 75 km southwest of Eureka, Nevada, U.S.A. on the west side of the Monitor Range at the south end of Antelope Valley.|
"By integrating Firestone's surface exploration work with historical datasets, we should be able to evaluate tonnage potential, and then target the most prospective drill areas," says Lori Walton, President of Firestone Ventures Inc. "With the increase in the price of zinc back up to the USD $1.00/lb range, we are evaluating several zinc prospects in the southwest United States in addition to our core zinc-lead-silver holdings in Guatemala. Many Nevada zinc prospects were discovered during historic exploration for Carlin type sediment-hosted gold mineralization."
A total of 823 soil samples were collected at the Antelope property on a grid covering a 4 km sq. area. Samples were collected every 50 to 100 m on lines 100 m apart. A total of 66 soil samples contained more than 384 ppm zinc, including four samples that returned over 10,000 ppm zinc (1% zinc). The highest zinc values were from the Lodestar Zone which is centrally located along the zinc corridor. There are additional anomalous zones at the north end and south end of the soil grid, a distance of 4 km. The highest lead value was 3,620 ppm in the Lodestar Zone. The anomalous lead values coincide with the zinc, but are not as widespread. Gold and silver values were background. Soil results for zinc can be viewed at www.firestoneventures.com.
The Firestone field crew also collected a total of 119 rock samples. Rock samples that returned high values of zinc, lead and silver coincide with the anomalous areas defined by the soil results. Rocks containing the highest values of up to 18.4% zinc, 2.7% lead and 12.5 ppm silver are from the central Lodestar Zone. The highest value from the northern zone was 1,310 ppm zinc and the highest value from the south end of the grid was 2,224 ppm zinc. Minor sphalerite and galena were noted in the central Lodestar Zone.
Stratabound non-sulphide zinc mineralization hosted in lower Ordovician Hanson Creek Formation dolomite was discovered on the Antelope property in the 1980's. Mineralization is spatially related to a north-south structural corridor (Cabin Springs Fault). The mineralized horizon dips shallow to the west where it is covered by younger Tertiary volcanic ash flows. Reverse circulation drilling took place between 1985 and 1990 in the central Lodestar Zone.
Firestone Ventures Inc. is exploring for zinc-lead-silver resources in Guatemala, Central America and in Nevada, U.S.A. In Guatemala, a belt of Permian to Cretaceous carbonate rocks extends for 250 km across western and central Guatemala. The belt hosts numerous zinc occurrences and historic small-scale zinc oxide and sulphide mines. The district is virtually unexplored using modern exploration methods and its exploration and economic potential is considered excellent. To date, Firestone has established a combined measured and indicated zinc-lead-silver oxide mineral resource totaling 1,891,636 tonnes grading 7.32% zinc, 2.41% lead and 14.25 g/t silver (at a 3% zinc-equivalent cutoff) at its Torlon Hill property in western Guatemala. An additional 169,705 tonnes is classified as inferred resources grading 4.42% zinc, 1.96% lead and 12.53 g/t silver. The Torlon Hill deposit is open for expansion. Firestone is currently evaluating numerous zinc oxide surface occurrences throughout Guatemala.
In Nevada, U.S.A., Firestone has an option to earn 100% interest in the Antelope project through Lease Option Agreements signed with two underlying vendors. Firestone has staked an additional 31 mineral claims, bringing the total Antelope land package up to 49 lode mining claims (400 hectares).
Rock and soil samples were analyzed by the Inspectorate Lab in Sparks, Nevada. Rock and soil samples are subjected to 4-acid digestion and are analyzed for 30 elements by ICP. Gold was analyzed by FA/AA. Overlimit zinc and lead analyses are further analyzed by atomic absorption methods with an upper analytical limit of 20%.
The technical information contained in this document has been reviewed and approved by John Cleary, (CPG), Firestone's Vice President Exploration and Qualified Person as defined by National Instrument 43-101.
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
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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