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| | Thu Oct 4, 2007
Firestone Ventures Reports on Check Assay Program, Confirms 25.0 Metres of 26.77% Zinc at Torlon Hill
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| | October 4/2007 - Firestone Ventures Inc. (FV:TSX-V;F5V:FSE) is pleased to announce that independent consultants Watts, Griffis and McOuat Limited ("WGM") have completed extensive check assaying as part of Firestone's rigorous QA/QC program. The results have been integrated into Firestone's existing database of drill assay results for the Torlon Hill zinc-lead-silver project, located 18 road kilometers northwest of the city of Huehuetenango, Guatemala.
The check assaying component of Firestone's QA/QC program helps determine the effectiveness and accuracy of current laboratory and assaying techniques, and is of particular importance due to the high-grade nature of the non-sulphide zinc mineralization (smithsonite) at Torlon Hill.
Using a 3% zinc cut-off grade, WGM's new assay intervals confirm the high-grade nature of Firestone's original intersections announced in previous news releases. A complete table of re-calculated assay intervals is available at www.firestoneventures.com.
Highlights of the re-calculated intervals (using a 3% zinc cut-off) include:
Drill Hole TH06-01: 28.8 metres of 10.91% zinc, 1.89% lead and
6.72 g/t silver(i)
Drill Hole TH06-02: 25.0 metres of 26.77% zinc, 1.42% lead and
5.98 g/t silver(i)
and 4.0 metres of 11.24% zinc, 2.14% lead and
20.65 g/t silver
Drill Hole TH06-05: 6.5 metres of 11.32% zinc, 5.93% lead and
38.60 g/t silver
and 21.0 metres of 8.16% zinc, 2.54% lead and
22.15 g/t silver
Drill Hole TH06-13: 53.3 metres of 9.66% zinc, 1.86% lead and
12.21 g/t silver(i)
Drill Hole TH06-14: 13.7 metres of 9.79% zinc, 1.32% lead and
12.50 g/t silver
and 31.3 metres of 14.28% zinc, 0.20% lead and
1.27 g/t silver
Drill Hole TH06-23: 21.3 metres of 19.07% zinc, 3.74% lead and
48.84 g/t silver
Drill Hole TH06-31: 10.6 metres of 10.96% zinc, 7.75% lead and
41.25 g/t silver
Drill Hole TH07-53: 42.5 metres of 9.50% zinc, 5.17% lead and
34.39 g/t silver
(i) intersection begins on surface (0.0 metres)
Check Sampling Program
A total of 4,936 metres of diamond drilling has been completed since January, 2005. A lengthy check sampling program was completed under the supervision of WGM. WGM has a large body of experience relevant to the Torlon Hill project, having worked on similar non-sulphide zinc deposits in Thailand, Yemen, Iran and Peru.
The check sampling included re-assaying 116 of Firestone's drill core rejects which were stored in a secure facility at the project site. Re-assaying was conducted by Global Discoveries Laboratory in Vancouver, B.C. WGM also carried out independent check sampling during site visits to Torlon Hill by re-cutting and re-assaying selected drill core intervals and re-assaying 42 drill-core pulps.
The check assay data has been compiled and independently reviewed by WGM. WGM found the check values to be within acceptable variances for most samples. Zinc values showed good correlation (85% of the check samples were within 10% of the original assays), and no bias was observed. Greater variance was seen in lead and silver values, with 4% and 16% of the respective populations occurring as outliers (see Comparison Table of Original and Check Assays for Zinc, Lead and Silver available at www.firestoneventures.com).
WGM concluded that the more erratic nature of the galena mineralization within the Torlon deposit, its brittle character, and the problems of ensuring that heavy minerals are adequately homogenized within the sample assayed contribute to the higher variances between original and check assay values for lead and silver and recommends additional work to further investigate the outliers identified.
Metallurgy and 2007/2008 Exploration Program
Metallurgical testing of a representative 200 kg sample of Torlon mineralization is underway at SGS Lakefield Research and final results are expected later this year. Firestone is working on the 2007/2008 field program and budget for the Torlon Hill project and will finalize in the coming weeks.
Sample preparation and analytical procedures have been described in news releases dated March 2, 2006 and January 11, 2007. All drill core sampling has been carried out under the constant supervision of Firestone's geologist John Cleary (CPG) and Qualified Person for the Torlon Hill project, with technical guidance from WGM. All laboratory analysis is by the ALS Chemex facility in North Vancouver, British Columbia, Canada. In addition to its own independent sampling carried out during 2006 and again during 2007, WGM also provided guidance concerning Firestone's internal check assaying program.
This news release has been reviewed and approved by John Cleary, (CPG) Qualified Person and by Al Workman, P.Geo., Vice President of Watts, Griffis and McOuat Limited and the Independent Qualified Person for the Torlon Project.
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 Previous News Releases item: Thu Sep 27, 2007, Firestone Ventures Reports 4.0 m of 5.22 g/t Gold, Sonora Property, Yukon
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