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| | Tue Sep 26, 2006
Firestone Ventures Commences Drilling at Sonora Gold-Copper Property and Expands Program
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| | September 26, 2006 - Firestone Ventures Inc. (FV: TSX-V; F5V: FSE) is pleased to announce the commencement of the Phase Two diamond drilling program at its Sonora gold-copper-silver-molybdenum project, located 110 kilometres 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 kilometres of Sherwood Copper's Minto copper-gold project, currently in development.
Firestone President Lori Walton reports the drill program is on schedule. "We have completed three diamond drill holes to date," Walton says. "In addition we have expanded the planned program to include a thirteenth hole targeting the far eastern edge of the Amadeus Zone. We expect to drill a total of 2,475 metres."
The following drill holes are complete:
Depth
Drill Hole Area Azimuth Dip (metres)
SG-06-01 (K) Figaro Zone 200� -60� 251.1
SG-06-02 (H) Amadeus Zone 180� -60� 213.4
SG-06-03 (G) Amadeus Zone 360� -60� 189.0
Summary of Drill Targets (See Drill Hole Location Map at www.firestoneventures.com)
Figaro Zone (Two drill holes planned)
The Figaro zone is defined by a strong coincident copper-gold anomaly in soil covering an area measuring 200 by 100 metres. Copper values in soil ranged from 220 to 1120 ppm; gold values ranged from 118 ppb (0.118 grams/tonne) to 264 ppb (0.264 grams/tonne). Rock sampling of the Figaro Zone returned anomalous copper and molybdenum values; a grab sample of a 15-cm quartz-molybdenite vein in outcrop returned a value of 0.46% molybdenum. The Figaro Zone is coincident with a high chargeability "Induced Polarization (IP)" geophysical anomaly.
Amadeus Zone (Five drill holes planned)
The Amadeus Zone is a new gold discovery located east of Hayes Creek. This zone, at least 700 metres long and up to 250 metres wide, is associated with several strong gold in soil anomalies exceeding 100 ppb (0.10 grams/tonne) gold and commonly exceeding 250 ppb (0.25 grams/tonne) gold. The Amadeus Zone is also coincident with a high chargeability IP anomaly.
Wolfgang Anomaly (One drill hole planned)
The "Wolfgang Anomaly", associated with the Amadeus Zone, is defined by soil sample values ranging from 453 ppb (0.45 grams/tonne) to 2,340 ppb (2.34 grams/tonne gold) with anomalous copper and strongly anomalous bismuth, and also coincident with a strong chargeability IP anomaly. The anomaly extends 200 metres north-south, and is open to the east.
Jupiter Anomaly (Four drill holes planned)
The Jupiter Anomaly is defined by a copper-gold anomaly in soil intersected by the Big Creek Fault, as interpreted through geological mapping and VLF surveying. Soil sampling completed during Phase One outlined a copper anomaly with values exceeding 250 ppm copper along a 900 metre strike length. This is coincident with a gold in soil anomaly with values exceeding 100 ppb (0.10 grams/tonne) gold along a 600 metre strike length.
Giovanni Anomaly (One drill hole planned)
One drill hole will test a strong chargeability IP anomaly, called the "Giovanni Anomaly" underlying the east side of the Hayes Creek floodplain.
The Phase Two program also included expansion of the Phase One soil grid, to cover potential eastward extension of the Wolfgang Anomaly. A total of 17 soil samples, 2 silt samples and 2 rock samples were collected. Results indicate that the anomaly extends at least 200 metres further east. Seven soil samples returned values exceeding 50 ppb (0.050 grams/tonne) gold, to a maximum value of 135 ppb (0.135 grams/tonne gold).
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. All sample analysis is being done by ALS Chemex Laboratories of North Vancouver, British Columbia, Canada. Soil and silt samples undergo 30-gram fire assay analysis for gold, rock and core samples undergo 50-gram fire analysis for gold; all samples are being subjected to 34-element ICP analysis. Firestone Ventures is earning an 80% interest in the Sonora property. A fact sheet on the Sonora property, a regional location map, and a drill hole location map are available at www.firestoneventures.com.
Firestone Ventures Inc. is a well-financed Canadian-based resource exploration and development company with zinc, gold and uranium projects in Western Canada and Central America. The common shares of the Company are currently listed on the Toronto Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V). 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; F5V: FSE
For Investor Relations please call:
Contact Financial Inc. at (604) 689-7422
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release |
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