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| | Wed Mar 29, 2006
Firestone Ventures Intersects 33 Metres Grading 22% Zinc at Torlon Hill
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March 29/2006 - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce results from the first six drill holes at the Company's Torlon Hill zinc project, western Guatemala. The road-accessible Torlon Hill project is located 12 km northwest of the city of Huehuetenango, situated on the Pan-American Highway. The objective of the 20-hole, 1500 m drill program is to evaluate the areas of (oxide) zinc mineralization towards preparation of a NI 43-101 compliant resource estimate.
Highlights from the drill results include:
- Hole TH06-1 intersected 28.8 m of 11.2% zinc including a 15.7 m interval of 17.4% zinc.
- Hole TH06-2 intersected 33.0 m of 22.0% zinc including a 17.1 m interval of 31.9% zinc.
- Hole TH06-3 intersected three zones of mineralization; 16.1 m of 8.9% zinc, 5.9 m of 4.7% zinc and 11.4 m of 6.9% zinc
All six holes intersected the mineralized zone which lies above a well defined serpentinite basement. Of 245 samples analyzed, 14 samples returned greater than 30% zinc, with up to 43.0% zinc. To date, 16 holes have been completed, at 15 m to 40 m spacing. A map showing drill-hole locations is available at www.firestoneventures.com and a table listing mineralized intervals from all six holes is attached.
"These first six holes were drilled at close spacing in an area of high-grade zinc mineralization locally exceeding 40% zinc exposed on surface" says Lori Walton, President of Firestone Ventures. "It was our intention to test the continuity of mineralization exposed at the surface and these holes have done so spectacularly."
According to Consultants Watts, Griffis and McOuat Limited ("WGM"), the high zinc grades discovered at Torlon Hill are consistent with high grades also found in the Angouran Mine in Iran where WGM has been working since 2001. Angouran is a +/-25 Mt deposit grading approximately 25% zinc and 1-2% lead. Both Angouran and Torlon Hill are carbonate-hosted and have a strong structural control. This is in contrast with the Jabali Mississippi Valley Type oxide zinc deposit in Yemen where WGM's 1992 drilling resulted in a resource of some 10 Mt grading 10% zinc and 1.5% lead. Torlon's structural control also differs somewhat from the Skorpion Mine, Namibia, which is a 21 Mt zinc oxide deposit grading 11% zinc. WGM believes that the strong structural element at Torlon is an essential element in developing these unusually high grades.
At Torlon Hill, the high-grade mineralization, containing in excess of 10% zinc and locally 30 to 43% zinc occurs within a pervasively mineralized tectonic crush zone containing less than 10% zinc. Zinc mineralization is exposed for over 700 m along the "Santa Rosa Corridor." The spring 2006 drill program is testing the central portion ("The Bulge") covering a 200 m x 100 m area. The mineralized areas are locally accessed through narrow workings excavated by local miners. There is excellent potential for expansion of the high grade zinc mineralization to the north and south of the area being drilled. In addition, there are indications of high-grade zinc mineralization on the far west side of Torlon Hill.
Laboratory Analyses and Quality Control
Sample preparation was described in the news release dated March 2, 2006. Following preparation, 200-250 grams of pulverized sample is shipped by air courier directly to ALS Chemex, North Vancouver, British Columbia, Canada for analysis.
ALS Chemex is an ISO 9002 registered laboratory. Samples are subject to a 4-acid digestion and are analyzed for 27 elements by ICP-AES. Over limit zinc and lead analyses are further analyzed by atomic absorption methods. The upper limit for zinc is 30%. Samples which contain in excess of 30% zinc are re-analyzed using titration. This multi-stage analytical procedure, while more costly, ensures that an appropriate lab method is used to produce reliable data at each lead or zinc concentration level. It also offers repeat analyses to protect against gross analytical error. Industrial Standards are not being inserted by Firestone at this time. ALS Chemex and Firestone are both routinely inserting blank samples for quality control purposes. Selected coarse rejects from high grade samples will be re-analyzed at a later date by another laboratory as part of the compositing process to produce material for metallurgical testing.
Firestone Ventures has an option to purchase a 100% interest in the 16-hectare (39.5 acres) Torlon Hill property from the property owners and has also acquired the surrounding 134-hectare (331.1 acres) Orbita exploration concession.
This news release has been reviewed and approved by John Cleary, (CPG, RG), Qualified Person for the Torlon Hill project, and by Al Workman, Vice President of Watts, Griffis and McOuat Limited. For a fact sheet on the Torlon Hill project, photos, a NI 43-101 compliant Technical Report and a new FAQ sheet on the uses, supply and demand for zinc, please visit www.firestoneventures.com.
Firestone Ventures Inc. has a portfolio of high quality zinc, uranium 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
Torlon Hill Mineralized Intervals (Holes TH06-1 to TH06-6)
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Hole No. (all holes are vertical) From To Thickness % Zn % Pb
(m) (m) (m)
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TH06-1 (33.0 m total depth) 0.0 28.8 28.8 11.2 1.9
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Including 0.0 15.7 15.7 17.4
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TH06-2 (57.9 m total depth) 0.0 33.0 33.0 22.0 1.4
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Including 0.0 17.1 17.1 31.9 1.8
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TH06-3 (45.5 m total depth) 0.0 16.1 16.1 8.9 2.7
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24.1 30.0 5.9 4.7
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33.5 45.1 11.4 6.9 2.5
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TH06-4 (80.8 m total depth) 7.1 11.1 4.0 3.8 4.7
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33.4 51.2 18.0 4.6 0.9
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62.1 75.2 10.2 3.0 1.5
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TH06-5 (79.2 m total depth) 1.5 41.0 39.5 5.7 2.2
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45.0 53.0 8.0 2.3
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TH06-6 (73.2 m total depth) 38.1 41.1 3.0 3.9 2.7
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44.2 48.8 4.6 2.4 0.5
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65.5 68.0 2.5 3.0 1.0
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Note: Silver values are generally less than 10 g/t, but range up to
68.1 g/t.
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