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| | Wed Feb 28, 2007
Firestone Ventures Expands on High-Grade Gold Intercept by Staking Additional Claims at Sonora Project, Yukon Territory
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| | February 28, 2007: Firestone Ventures Inc. (FV:TSX-V:F5V:FSE) is pleased to announce that it has completed acquisition by claim staking of an additional 167 quartz mining claims near the Company's Sonora gold property, located 110 km northwest of Carmacks, Yukon Territory, Canada.
A total of 123 mineral claims were added to expand the existing Sonora claimblock. In addition, the Chopin property, covering 44 mineral claims was staked 20 km southeast of the Sonora property. The Chopin property covers two historical mineral occurrences; the Pitts and the Panther. Both are similar in geochemistry to the Sonora property. At the Pitts occurrence, historical rock sampling returned values to 5.5 g/t gold; at the Panther occurrence historical surface sampling returned values to 1.03 g/t gold (as documented in "Yukon Minfile").
Firestone recently announced a high-grade gold intercept of 6.21 g/t gold across 15.3 metres from its Autumn, 2006 diamond drilling program on the Sonora property (see news release dated Jan. 15, 2007). The high-grade intercept, from the "Amadeus Zone", contained a sub-interval of 12.19 gold across 5.0 metres and is open at depth. A total of 1,821 metres in 12 holes was drilled by Firestone in 2006.
"The high-grade gold intercept at the Amadeus Zone is over two kilometres from previously known high-grade gold mineralization and placer gold workings containing angular gold and gold-bismuth-tellurium minerals. We are very excited about the size potential of the mineralizing system at Sonora", says Lori Walton, President of Firestone Ventures. "In addition, positive developments on expansion of the existing power grid are encouraging for all companies exploring in the Dawson Range gold-copper district."
The Sonora property is located within 25 kilometres of a seasonal access road and within 40 kilometers of Sherwood Copper's Minto copper-gold mine project, currently in development. The Sonora property now covers 5,244 hectares (12,952 acres). The Chopin property covers an additional 933 hectares (2,305 acres). Firestone Ventures is earning in for an 80% interest in the Sonora property.
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 previous news releases 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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