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| | Wed May 24, 2006
Exploration Underway on Firestone Ventures' Sonora Gold Property, Yukon
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| | May 24, 2006: Firestone Ventures Inc. (FV:TSX-V) is pleased to announce that exploration has commenced on the Company's Sonora gold-silver-copper property, located 110 km northwest of Carmacks, Yukon Territory, Canada. The 2,016 hectare (4,980 acre) Sonora property is located within 25 kilometres of a seasonal access road and within 40 kilometers of Sherwood Copper's Minto copper-gold project, currently in development. Firestone Ventures is earning in for an 80% interest in the Sonora property.
Phase One
The program will begin with 13 kilometers of geophysical surveying to extend the coverage provided by the successful Autumn, 2005 geophysics program. Geophysical surveys will consist of induced polarization (IP), VLF-EM and surface magnetic surveys. A surface exploration program consisting of geological mapping, soil and silt sampling and chip sampling will immediately follow the geophysics program.
Phase Two
Phase Two will consist of data compilation and review, followed by a diamond drill program in Autumn, 2006. The 11 hole, 1,800 metre program scheduled for September will test for intrusion-related gold mineralization.
"With the closing of our $4 million private placement last month, we can put exploration at Sonora Gulch into high gear. We anticipate having multiple high-priority drill targets by the end of Phase One." says Lori Walton, President of Firestone Ventures.
Background
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 have been recovered from placer concentrates. The property has a gravel airstrip for easy 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.
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. A fact sheet on the Sonora property, property location map and a NI 43-101 compliant Technical Report are available at www.firestoneventures.com.
Firestone Ventures Inc. has a portfolio of high quality zinc, gold and uranium 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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