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| | Fri Aug 29, 2003
Beryl Found On Straw Property, Yukon Territory
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| | Firestone Ventures Inc. is pleased to announce that it has discovered beryl on its Straw property located in the Finlayson area, Yukon Territory. The opaque crystals were found during detailed prospecting and sampling during Phase Two of the 2003 emerald exploration program on the Straw, Lion, Rusty and Meg claims. Pursuant to an agreement with True North Gems Inc., Firestone has the option to earn a 60% interest in the claims. This represents the Company's second beryl discovery for this summer, including the discovery previously noted on the Four Corners property.
Results from reconnaissance fieldwork during Phase One by the emerald exploration field crew had identified areas of interest on the Straw and Rusty claims. The Straw claims are four kilometres south of Regal Ridge. The beryls are associated with pegmatite intruding chlorite schist. The beryls are very pale, opaque greenish blue and are up to 1.2 cm in cross section and up to 4 cm in length. A single embedded partial beryl crystal with a cross section up to 3 cm was noted. The extent of the beryl mineralization has not been determined.
In addition, several favorable indicators of emerald mineralization were noted in an area on the Straw claims several hundreds of meters southwest of the beryl location. The geological setting of this area and the mineralogy, geochemistry and alteration is very similar to that noted at Regal Ridge. Results from detailed soil sampling in this area are pending. The field crew is now working on the Rusty claims, located seven kilometres northwest of Regal Ridge.
Lori Walton, Director of Firestone Ventures Inc., visited the Four Corners Property and Straw Property on August 25, 2003. She reports, "I am very pleased with the progress made by the Archer Cathro and Associates field crew. They had to cover a very large amount of ground this summer on a grassroots scale during Phase One. The specialized geochemical and mineralogical techniques developed for emerald exploration in the Finlayson Area, Yukon have enabled the crew to focus quickly on those smaller areas with the best potential for emerald mineralization. The discovery of non-gem beryl crystals is concrete proof of elevated beryllium in the areas of interest. The associated mineralogy, alteration and geological setting leads us to believe that these areas of interest have the required elements for the more rare emerald-green variety of beryl."
FIRESTONE VENTURES INC.
per: "Dr. Ken Powell"
Dr. Ken Powell, President
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