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| | Wed Apr 18, 2007
Firestone Ventures Commences Alberta Sun Uranium Airborne Geophysics Survey
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| | April 18, 2007 - Firestone Ventures Inc. (FV:TSX-V, F5V:FSE) is pleased to announce that an airborne geophysics survey has commenced on its 100% owned Alberta Sun uranium project in southwestern Alberta, Canada. The seven day survey will focus on four blocks identified as being the most prospective for sandstone-hosted uranium deposits.
The survey is being carried out by Fugro Airborne Surveys using a helicopter flying grid lines at 100 metre spacings on 2384 line kilometers targeting four prospective areas. The survey will consist of "frequency domain" electromagnetic and magnetic surveying. In conjunction with the airborne survey, Firestone Ventures has commissioned TerraNotes Ltd. to carry out Radarsat Imaging Analysis and interpretation of preliminary data, followed by sophisticated modeling of the airborne survey dataset. The total cost of the Spring, 2007 program is estimated at $380,000, ensuring that the primary permit areas of the Alberta Sun project will be in good standing for an additional two years.
"The four blocks cover areas of favorable stratigraphy and uranium indicators. The main purpose of the airborne survey is to identify buried stream channels and this may be followed by a radon cup detector survey," says Lori Walton, President of Firestone Ventures Inc. "The price of uranium has increased further to over US $100/lb. We are using innovative new technology to explore for uranium in Alberta -- a great energy-producing province."
The Alberta Sun uranium property (covering over 350,000 acres) is characterized by easy access across southern Alberta rangeland. The area is underlain by Cretaceous to Tertiary marine and non-marine sandstones and tuffs. The geological target is sandstone-hosted (or "roll-front") uranium similar to deposits from Wyoming to northern Texas. Sandstone-hosted uranium deposits are an economically important source of uranium production. Prior consultation with independent experts on sandstone-hosted uranium exploration confirmed the initial economic and exploration potential of southwestern Alberta (see News Release dated Sept. 14, 2005).
Results of initial fieldwork at the Company's project include scintillometer readings of up to 1250 cps (counts per second), visible alteration, shale beds and abundant hematite and carbonaceous material within the sandstone unit. Composite grab samples of isolated organic debris material returned up to 7640 ppm uranium (0.901 U3O8). Grab rock samples (sandstone) from a separate area 40 km southeast returned 57 to 150 ppm uranium. Elevated vanadium, molybdenum, arsenic, and lead values, important indicators of sandstone-hosted uranium, occur at both areas (see previous News Releases available at www.firestoneventures.com).
This news release has been reviewed by Carl Schulze, B.Sc., PGeo., Qualified Person for the project in accordance with regulations under National Instrument 43-101.
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: Thu Apr 26, 2007, Firestone Ventures Completes Purchase of Royalties at Alberta Sun Uranium Project
You can view the Previous News Releases item: Tue Apr 10, 2007, Firestone Ventures to Spend $1.5 Million at Sonora Gold-Silver Project, Yukon Territory
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