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| | Tue Apr 10, 2007
Firestone Ventures to Spend $1.5 Million at Sonora Gold-Silver Project, Yukon Territory
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| | April 10/2007 - Firestone Ventures Inc. (FV:TSX-V, F5V:FSE) is pleased to announce plans to expand on a high-grade gold discovery intercept of 6.21 g/t gold and 3.0 g/t silver across 15.3 metres from its Autumn 2006 diamond drilling program on the Sonora property (see news release dated Jan. 15, 2007), Dawson Range area, Yukon Territory, Canada. The new discovery intercept, from the "Amadeus Zone" includes a sub-interval of 12.19 g/t gold and 4.8 g/t silver across 5.0 metres and is open at depth. Other drill intersections from the 2006 drill campaign include 19.9 metres of 0.321 g/t gold and 50.1 g/t silver and 4.5 metres of 3.60 g/t gold and 14.6 g/t silver.
The CDN $1.5 million exploration program, to begin June, 2007 will include a minimum of 11 diamond drill holes for 2,725 metres. The 2007 drill campaign has three main priority objectives: five step-out holes and two exploration holes along strike to test the extent of the high-grade gold intercept at the Amadeus Zone, two drill holes to test the "Jupiter" gold-copper soil geochemical anomaly, one hole targeting the "Gold Vein Zone" on the west side of the property and a drill hole into an area of high gold-in-soil anomalies associated with ultramafic rocks north of the Jupiter Zone. A map showing the previous drill hole locations and the zones is available at www.firestoneventures.com.
In addition, the 2007 program will include reconnaissance geological mapping, prospecting and geochemical sampling on the Sonora property and on the new "Chopin" claimblock covering the Pitts and the Panther historical mineral occurrences similar in geochemistry to the Sonora property.
"Rarely does a first drill campaign in a previously undrilled area produce such high-grade gold results." says Lori Walton, President of Firestone Ventures Inc. "We have increased our land position and are working on integrating historical data sets. We look forward to expanding on the Amadeus Zone gold discovery."
In related news, Firestone would like to announce the acquisition of a historical data set ("the Data") of original maps, reports and field notes pertaining to the Company's Sonora Gulch project area and the Dawson Range in general. In consideration for the Data and subject to TSX Venture approval, the Company will issue 25,000 common shares to one subscriber at $0.51 per common share. In addition, a total of 5,000 common shares will be issued to an arm's length individual at $0.51 per common share as a finder's fee. All securities issued in connection with the acquisition of the Data will be subject to a four month hold period.
The Sonora property is located within 25 kilometres of a seasonal access road and within 40 kilometres 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 is earning in for an 80% interest in the Sonora property.
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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| | You can view the Next News Releases item: Wed Apr 18, 2007, Firestone Ventures Commences Alberta Sun Uranium Airborne Geophysics Survey
You can view the Previous News Releases item: 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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