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| | Tue Feb 26, 2008
Update on Firestone Ventures 2008 Drilling Program at Torlon Hill Zinc-Lead Project, Guatemala
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| | February 26, 2008 -- Firestone Ventures Inc. (FV:TSX-V, F5V:FSE) is pleased to announce the completion of the first 14 core drill holes (totalling 1,240 metres) of the 3,700 metre winter 2007/2008 drill campaign at the Company's Torlon Hill zinc-lead-silver project in Guatemala.
"Drilling is on-schedule and proceeding rapidly. We are regularly shipping drill core samples for preparation and analysis," says Lori Walton, President of Firestone Ventures. "We are drilling the northern part of the deposit with mainly in-fill holes and step-out holes. In April the drill will move further south along the trend of the mineralization to drill test areas having strong zinc-lead geochemical soil anomalies."
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 intersections include 25 metres of 26.77% zinc, 1.42% lead, 5.98% 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).
A total of 6,176 metres has been drilled to date at Torlon Hill. Most zinc-lead mineralization defined by drilling occurs on or near surface. The deposit is still open to expansion, mainly to the west and south.
A total of $1.8 million has been allocated to the winter 2007/2008 exploration program which includes diamond drilling, detailed geological mapping, geochemical soil sampling, prospecting and ongoing environmental baseline studies. A drill hole location map is available at www.firestoneventures.com, along with previous drill results, news releases, a longitudinal section sketch, FAQ sheet and photos. The road-accessible Torlon Hill project is located 18 kilometres 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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