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| | Fri Feb 1, 2008
Firestone Ventures Identifies New Drill Targets Adjacent to Torlon Hill
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| | February 1, 2008 - Firestone Ventures Inc. (FV:TSX-V;F5V:FSE) is pleased to announce that it has identified two new zinc-lead soil anomalies in previously unexplored areas directly to the east and to the south of Torlon Hill. A total of 205 soil samples and 23 rock samples were collected.
The first new anomaly was discovered directly east of Torlon Hill. A total of 45 soil samples on 50 metre centers were collected over a 250 by 400 meter area. The area is underlain by an outlier of Permian dolomite rock, the same formation that hosts the Torlon Hill zinc-lead-silver mineralization. Soil geochemical results show a well-defined area of very strongly anomalous zinc (up to 1.32% or 13,200 ppm) and lead (up to 4,120 ppm). Sixteen rock grab samples from outcrop returned up to 150 ppm zinc and 320 ppm lead.
The second anomaly was outlined in a previously unexplored area directly south of Torlon Hill. Of 45 soil samples collected, an anomalous zone with up to 570 ppm zinc and 1,370 ppm lead was defined by extending the south end of the previous soil grid an additional 150 metres south. This anomaly may represent a northwest-trending fault. Five rock samples collected in this area returned up to 140 ppm zinc and 570 ppm lead.
In addition, Firestone collected 67 soil samples on 25 metre centres as in-fill samples to better define the soil anomalies outlined by the 2007 program (see news release dated July 10, 2007). The sampling confirms two strongly anomalous zinc-lead trends with values up to 2,330 ppm zinc and 3,590 ppm lead.
"While recently preparing for the 2008 drill program, which is well-underway, we conducted a surface exploration program in November, 2007. We have several new drill targets in previously unexplored areas near Torlon Hill, in addition to ongoing in-fill and expansion drilling on Torlon Hill", says Lori Walton.
Mineralization at the intensely oxidized Torlon Hill deposit consists largely of smithsonite (a zinc carbonate mineral) replacing limestone, cross-cut by galena (lead sulphide) veinlets and contained within a shallowly southeast-dipping body measuring approximately 400 metres long, 20 to 100 metres wide and up to 30 metres thick. Previous high-grade drill hole intersections include 25 metres of 26.77% zinc, 1.42% lead, 5.98 g/t silver and 53.3 metres of 9.66% zinc, 1.86% lead and 12.21 g/t silver (see news release dated Oct. 4, 2007). Most mineralization defined by drilling to date occurs on or near surface. The deposit is still open to expansion, mainly to the west and south.
Soil samples were dried at the BSI Inspectorate facility in Guatemala City, then shipped by courier directly to ALS Chemex North Vancouver, British Columbia, Canada for analysis. All soil and rock samples were subjected to a 4-acid digestion and then analyzed for 31 elements by ICP-AES.
The road-accessible Torlon Hill project is located 18 kilometers northwest of the city of Huehuetenango, which is situated on the Pan-American Highway in western Guatemala.
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.
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
info@firestoneventures.com
www.firestoneventures.com
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
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: Tue Feb 26, 2008, Update on Firestone Ventures 2008 Drilling Program at Torlon Hill Zinc-Lead Project, Guatemala
You can view the Previous News Releases item: Fri Jan 18, 2008, Firestone Ventures Commences Drilling at Torlon Hill Zinc-Lead Project
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