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| | Fri Nov 4, 2005
Firestone Ventures Commences Exploration on Sonora Gold Project, Yukon
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| | November 4, 2005 - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce that a detailed surface geophysical program has commenced on the company's 2,016-hectare (4,980 acre) Sonora property, located 110 km northwest of Carmacks, Yukon Territory, Canada. The property lies midway along the "Dawson Range Gold Belt" which hosts historically important gold and copper mines and deposits. Placer gold mining has operated periodically on streams draining the Sonora property. A gravel airstrip on the property and a seasonal road within 25 km provide access. Firestone Ventures is earning an 80% interest in the property.
The 2005 geophysics program, conducted by Aurora Geosciences Ltd., consists of 24 line-km of induced polarization and surface magnetometer surveying across several previously identified targets. The program also includes VLF-EM surveying to help define the location of the Big Creek Fault extending along the Dawson Range Gold Belt. The geophysics program is designed to identify targets for a proposed diamond drilling program to begin in 2006.
Several styles of gold mineralization have been identified on the Sonora property. The Sonora property exhibits similar geochemical and mineralogical signatures to the Pogo high-grade gold deposit under development by Teck Cominco/Sumitomo in Alaska. Discovered in 1994 by Watts, Griffis & McOuat Limited (WGM) while working for Sumitomo Metal Mining Ltd, the Pogo deposit contains a probable reserve of 7 million tonnes grading 16.12 g/t gold (Teck Cominco Limited Website). Both projects occur within the Tintina Gold Belt extending through Alaska and Yukon.
A total of 26 shallow diamond drill holes, collared at high elevations and averaging 100 m in depth, were completed on the Sonora property in the 1970s and 1980s. No major exploration has occurred since 1985.
A fact sheet on the Sonora Property and a NI 43-101 Technical Report are available at www.firestoneventures.com.
In other news, results have been compiled for the 2005 surface exploration program on Firestone's Amazing Grace project, located 15 km southwest of Castlegar, British Columbia, Canada. The program consisted of geological mapping, rock sampling and systematic soil sampling along grid lines covering several targets on the property. No viable drill targets suitable for Firestone Ventures' exploration mandate were identified, and the company has chosen to focus its efforts on its other prospective properties.
This News Release has been reviewed by Carl Schulze, BSc, PGeo, Qualified Person for these properties, in accordance with regulations under National Instrument 43-101. Sample analysis for the Amazing Grace project was performed by ALS Chemex Laboratories of North Vancouver, B.C.
For further information, please contact:
Lori Walton, P. Geol., President
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
info@firestoneventures.com
http://www.firestoneventures.com
Trading Symbol: FV: TSX-V
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release |
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