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| | Thu Sep 27, 2007
Firestone Ventures Reports 4.0 m of 5.22 g/t Gold, Sonora Property, Yukon
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| | September 27, 2007 - Firestone Ventures Inc. (FV:TSX-V,F5V:FSE) is pleased to announce the first set of assay results, from drill holes SG-07-11 and SG-07-12 completed on the Amadeus Zone, within the Company's Sonora gold-silver-copper property, located 110 km northwest of Carmacks, Yukon Territory, Canada. Drill Hole SG-07-12 returned 4.0 metres of 5.22 g/t gold. Significantly, the interval is within a larger intersection measuring 64 metres of 1.0 g/t gold.
The 2007 program consisted of 2112.8 metres of diamond drilling in 12 holes testing three target areas. 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, now in production.
"We are very encouraged by the intercept grading 5.22 g/t gold and the discovery of what appears to be a much larger, lower-grade gold-silver halo. This confirms the mineralized nature of the Amadeus Zone and further establishes Sonora as a substantial system extending across several kilometres of which only a very small area has been tested", says Lori Walton, President of Firestone Ventures Inc. "High tonnage, low grade gold deposits such as Fort Knox in Alaska and Brewery Creek in the Yukon generally contain tens to hundreds of million tonnes grading 0.8 g/t gold to 1.4 g/t gold."
Highlights: Drill Holes SG-07-11 and SG-07-12, Sonora Property
HOLE
NUMBER |
|
FROM
(metres) |
TO
(metres) |
INTERVAL
(metres) |
GOLD
(grams/tonne) |
SILVER
(grams/tonne) |
SG-07-11 |
|
11.1 |
27.1 |
16.0 |
0.59 |
11.8 |
|
Including |
13.0 |
15.0 |
2.0 |
1.64 |
14.2 |
|
|
53.0 |
55.0 |
2.0 |
1.04 |
9.8 |
|
|
114.0 |
128.2 |
14.2 |
0.54 |
4.0 |
SG-07-12 |
|
72.0 |
136.0 |
64.0 |
1.00 |
6.9 |
|
Including |
74.0 |
80.0 |
6.0 |
1.91 |
30.7 |
|
Including |
120.0 |
136.0 |
16.0 |
2.10 |
10.9 |
|
Including� (Sub-interval) |
120.0 |
124.0 |
4.0 |
5.22 |
8.3 |
|
|
205.0 |
219.0 |
14.0 |
1.05 |
1.2 |
|
|
240.0 |
256.0 |
16.0 |
0.48 |
3.8 |
|
|
270.0 |
272.5 |
2.50 |
0.25 |
162.0 |
Drill hole location maps are available at www.firestoneventures.com. Analytical results are pending from the remaining ten drill holes.
Hole SG-07-11 (Amadeus Zone) -- 204.5 metres depth was collared 130 metres east-northeast of drill hole SG-06-06 at an azimuth of 180o and dip of -55o, to test for eastern continuity of the 2006 discovery intercept of 6.21 g/t gold across 15.3 metres in SG-06-06 (see news release dated Jan. 15, 2007). Three intercepts were encountered, including one near-surface zone grading 0.59 g/t gold and 11.8 g/t silver across 16.0 metres from 11.1 to 27.1 metres of depth. This includes a 2.0 metre sub-intercept grading 1.64 g/t gold with 14.2 g/t silver from 13.0 to 15.0 metres. The hole also returned anomalous zinc (up to 6540 ppm) and lead (up to 1970 ppm). The hole was terminated at 204.5 metres before its target depth of 250 metres was reached, due to poor rock conditions.
Hole SG-07-12, (Amadeus Zone) -- 272.8 metres depth was designed to test for up-dip continuity of the 2006 discovery intercept. The hole is located 50 metres south of SG-06-06 and was drilled at 180o and at a dip of -60o. Hole SG-07-12 returned a 64 metre intercept grading 1.00 g/t gold with 6.9 g/t silver from 72.0 to 136.0 metres. This includes several higher-grade sub-intervals, most notably one of 16.0 metres grading 2.10 g/t gold with 10.9 g/t silver from 120.0 to 136.0 metres. This in turn includes a 4.0 metre interval from 120.0 to 124.0 metres grading 5.22 g/t gold with 8.3 g/t silver, with individual sections returning up to 8.25 g/t gold over 2.0 metres. Drill hole SG-07-12 also returned anomalous bismuth (up to 897 ppm), antimony (up to 1290 ppm), lead (up to 2490 ppm lead), copper (up to 1620 ppm) and a silver value of 164 g/t across 2.5 metres at the bottom of the drill hole.
The Sonora gold-silver-copper property is characterized by its multiple styles of gold mineralization, geological setting and intriguing gold-bismuth-tellurium geochemical signature. The Sonora property lies within the "Dawson Range Copper-Gold-Silver District" in west-central Yukon Territory. Placer gold mining has operated periodically on streams draining the Sonora property; angular gold nuggets have been recovered from placer concentrates. The start of production at the Minto Mine, just 40 km from Sonora; the proposed new power line, including a spur to the Minto mine, and the numerous drill programs carried out in the Dawson Range area in 2007, are all positive developments for the district.
All samples were analyzed by 50 gram fire assay and 34 element ICP Analysis by ALS Chemex Laboratories of North Vancouver, British Columbia, Canada. Firestone incorporated numerous standard samples having known gold content, as well as blanks, to test for accuracy of analytical results. Firestone also submitted numerous duplicate samples to test for uniformity of grade and for coarse gold effect.
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 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
Investors can also visit www.agoracom.com/IR/Firestone or email questions to FV@agoracom.com.
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 Oct 4, 2007, Firestone Ventures Reports on Check Assay Program, Confirms 25.0 Metres of 26.77% Zinc at Torlon Hill
You can view the Previous News Releases item: Mon Sep 10, 2007, Firestone Ventures Completes 2007 Drill Program, Sonora Gold Property, Yukon
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