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| | Wed Jan 11, 2006
Firestone Ventures Identifies Multiple Targets on Sonora Gold Property, Yukon
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| | Jan. 11, 2006: Firestone Ventures Inc. (FV:TSX-V) is pleased to announce that ground geophysics fieldwork at the Company's 2,016 hectare (4,980 acre) Sonora property, located 110 km northwest of Carmacks, Yukon Territory, Canada, has outlined several compelling new gold targets.
Highlights of the geophysical survey include:
- A broad, strong chargeability anomaly open to the east and coincident with an intrusive stock hosting gold-bearing pyritic mineralization further to the west. Survey results suggest similar mineralization may extend through, and to the east of, the K-467 zone, discovered by Firestone Ventures in 2004.
- At least two linear trends extending northwest, likely representing fault zones. These trends parallel the "Big Creek Fault" which hosts gold-bearing mineralization.
- A strong, narrow chargeability anomaly coincident with a very high gold-in-soil anomaly discovered by Firestone in 2004, with values up to 0.268 g/t across 300 m and individual values to 0.395 g/t gold.
Firestone is awaiting final interpretation of results by Aurora Geosciences Ltd. The 2005 geophysics program consisted of 10.0 km of induced polarization surveys, 9.7 line km of VLF surveys and 9.5 km of surface magnetometer surveys. These promising results will help define targets for a future drill program.
"With the excellent correlation between the geophysical results, structure and known mineralization, we have not only defined further the existing targets, but we have increased our confidence in geophysical surveying to test for new zones of gold mineralization." says Lori Walton, Firestone's President.
Firestone Ventures management was attracted to the Sonora property by its multiple styles of gold mineralization, geological setting and intriguing gold-bismuth-tellurium geochemical signature. The Sonora gold 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; angular gold nuggets, tetradymite (a bismuth tellurium mineral), galena and scheelite (a tungsten mineral) were recovered in placer concentrates. A gravel airstrip on the property and a seasonal road within 25 km provide access. A total of 26 shallow diamond drill holes, collared at high elevations and averaging 100 m of depth, were completed on the Sonora property in the 1970s and 1980s. No major exploration has occurred since 1985.
In other news, Firestone Ventures Inc. has relinquished an option to earn an interest in the Amazing Grace gold property in British Columbia. Results of the 2005 field program were insufficient to warrant further work.
This News Release has been reviewed and approved by Carl Schulze, BSc, PGeo, Qualified Person for the property, in accordance with regulations under National Instrument 43-101. Firestone Ventures is earning an 80% interest in the Sonora property. A fact sheet on the Sonora property and a NI 43-101 compliant Technical Report are available at www.firestoneventures.com.
Firestone Ventures Inc. has a portfolio of high quality zinc, uranium, gold and copper 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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| | You can view the Next News Releases item: Mon Jan 16, 2006, Firestone Ventures Begins 2006 exploration at Torlon Hill Zinc Project
You can view the Previous News Releases item: Thu Jan 5, 2006, Firestone Ventures Receives Positive Independent Review of Torlon Hill Zinc Project
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