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| | Fri Mar 30, 2007
Firestone Ventures Intersects 42.5 metres of 9.7% Zinc - a New Discovery at the Torlon Hill Project
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| | March 30/2007 - Firestone Ventures Inc. (FV:TSX-V, F5V:FSE) is pleased to announce a new high-grade zinc discovery on the southwest side of Torlon Hill, western Guatemala. Step-out drill hole TH07-53 intersected 42.5 metes of 9.7% zinc and 4.7% lead, including 19.9 metres of 13.8% zinc and 5.2% lead and 3.2 metres of 10.6% zinc, 13.0% lead and 88 grams/tonne silver. These values are comparable to previously drilled intersections from earlier "Bulge" area drilling on the east side of Torlon Hill, approximately 200 metres northeast.
Hole No. Total Depth From To Thickness Zinc Lead Silver
(metres) (metre)(metres) (metres) % % grams/tonne
TH07-52 97.5 Zinc values up to 0.5%, lead values up to 0.4%
TH07-53 147.8 55.5 98.0 42.5 9.7 4.7 20
Including 55.5 58.7 3.2 10.6 13.0 88
Including 71.6 73.5 1.9 25.5 4.9 18
Including 71.6 91.5 19.9 13.8 5.2 15
Including 79.3 80.8 1.5 27.6 1.8 12
Of 81 drill hole samples returned from TH07-53, ten returned greater than 10% zinc, up to a maximum of 27.6% zinc. Lead values were also high, with three samples returning greater than 10% lead, up to 16.6% lead. Silver values were up to 93 grams/tonne within the mineralized intercept.
For comparison, listed below are the longest intercepts from the "Bulge" zone of high-grade zinc within the Santa Rosa Zinc Corridor on the east side of Torlon Hill:
TH06-02 33.0 metres of 21% zinc (including 4.0 metres of 39.5% zinc)
TH06-13 53.0 metres of 10.2% zinc
TH06-14 46.7 metres of 12.5% zinc
"We are thrilled with this new discovery that may significantly expand the tonnage potential at Torlon Hill," says Lori Walton, President of Firestone Ventures. "To date, most of the defined zinc mineralization at Torlon Hill is exposed on surface or near-surface. There is obviously significant potential on the rest of the property for buried mineralization that has no surface expression."
Drill hole TH07-53 was one of twelve holes drilled on the west side at Torlon Hill; results are still pending for holes TH097-54 to 63. Expansion drill holes on the west side of Torlon Hill were spaced roughly 50 metres apart, much more dispersed than the 15 metre spacing in the "Bulge" area to the east. A total of 2,055.4 metres has been drilled to date since November, 2006 by Firestone Ventures during the current drill campaign. Firestone drilled 1,442 metres from February to March, 2006.
A drill hole location map (including recent drill hole assay results), news releases, a longitudinal section sketch, FAQ sheet and photos are available at www.firestoneventures.com. A National Instrument 43-101-compliant report on the Spring-2006 Drilling Program on the Torlon Hill Zinc Property has been posted on the Company's website and on SEDAR.
The road-accessible Torlon Hill project is located 18 road kilometres northwest of the city of Huehuetenango, near the Pan-American Highway in western Guatemala.
This news release has been reviewed and approved by John Cleary, (CPG), Qualified Person for the Torlon Hill project in accordance with regulations under National Instrument 43-101, and by Al Workman, P.Geo., Vice President of Watts, Griffis and McOuat Limited. Sample preparation, quality control and analytical techniques have been described previously (see January 11, 2007 news release). All samples were analyzed by ALS Chemex in Vancouver, B.C.
In other news, the Board of Directors of Firestone Ventures would like to congratulate one of our directors, Pamela Strand and her Shear Minerals Inc. colleagues on receiving an award by the Kivalliq Inuit Association for outstanding environmental stewardship. Pamela is President of Shear Minerals Inc.
Firestone Ventures Inc. is exhibiting in Booth 102 at the Calgary Resource Investment Conference, March 31 and April 1, 2007 at the Telus Convention Centre, Calgary, Alberta. A corporate presentation on Firestone Ventures is scheduled for Sunday at noon in Workshop 1. For details and free admission, please visit www.goldshow.ca.
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 TSX 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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