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| | Thu Jan 5, 2006
Firestone Ventures Receives Positive Independent Review of Torlon Hill Zinc Project
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| | Jan. 5/2006 - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce that it has received a positive independent review of the Torlon Hill zinc project by Watts, Griffis and McOuat Limited. The results are being used to design a diamond drill program planned for early 2006. The road accessible 16 hectare (39.5 acre) Torlon Hill project is located 12 km northwest of the city of Huehuetenango, situated on the Pan-American Highway in western Guatemala.
Watts, Griffis and McOuat Limited ("WGM") was retained to carry out an independent review of the Torlon Hill oxide zinc project, for the management of Firestone Ventures. WGM is a Toronto-based firm of independent consulting geologists and engineers that has been serving the Canadian and international mining community for over 40 years with extensive expertise in many areas of mine development including mineral property valuation, due diligence studies, institutional strengthening, and Mineral Resource/Mineral Reserve estimation.
The Torlon deposit is an intensely oxidized, carbonate-hosted zinc-lead (plus silver) sulphide deposit in which little of the original sulphide phases are preserved. The deposit is currently the centre of artisanal miners who are mining relic galena in the oxidized zone.
From the prevalence of smithsonite, a zinc-carbonate mineral, WGM concludes that the Torlon Hill deposit is mineralogically similar to much of the Jabali zinc deposit in Yemen and the Angouran zinc deposit in Iran. During 1992, WGM's drilling and subsequent feasibility study at Jabali proved the continuity of ore in that deposit. WGM has been working at Angouran since 2001.
WGM found that, unlike Jabali, mineralization at Torlon is primarily controlled by structure (like Angouran), and that the deposit is likely to be higher grade than Jabali. WGM states that the Torlon Hill zinc project represents a substantial, untested exploration target with good potential to develop into an economically viable deposit.
"We are very pleased with the results of the independent project review of Torlon Hill by WGM. Their review will certainly help us in designing the upcoming diamond drill program." says Lori Walton, President of Firestone Ventures. "The long term demand for zinc is very strong; the price of zinc has increased from US$0.53/lb in early 2005 to today's price of US$0.87/lb.
This news release has been reviewed and approved by J. Cleary, CPG, Qualified Person for the Torlon Hill project and by Watts, Griffis and McOuat Limited. Additional information on the Torlon Hill project, including press releases and a fact sheet is available at www.firestoneventures.com.
Firestone Ventures Inc. has a portfolio of high quality uranium, zinc, copper and gold properties. For further information, please contact:
Lori Walton, P. Geol., President
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
info@firestoneventures.com
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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