 |
| |
| | Mon Oct 20, 2003
Firestone Ventures completes 2003 emerald exploration program
|
| | VANCOUVER, Oct 20/CNW/- Firestone Ventures Inc. (FV:TSX-V) has completed emerald exploration fieldwork on the company's Finlayson and Four Corners projects in the Finlayson Lake area, Yukon Territory, Canada. The Finlayson area is an emerging emerald/colored gemstone district overprinted on an established volcanogenic massive sulphide camp. A significant emerald occurrence at Regal Ridge in the Finlayson area is being explored by True North Gems Inc. (TGX:TSX-V).
Said Dr. Ken Powell, President of Firestone Ventures, "We are very pleased with the results of this summer's exploration season, especially in our new Neptune Zone. We started at the beginning of the summer with an area of over 650 mineral claims to explore on a grassroots level to find emerald, a very rare gemstone. The crew used specialized emerald exploration techniques to define several highly prospective zones. We are confident that we are in the right areas to explore for emeralds next summer using detailed prospecting and sampling. In particular, the geological setting, geochemistry, alteration, structure and proximity to Regal Ridge of our new Neptune Zone constitute a total package of all the ingredients needed for emerald mineralization based on the Regal Ridge model".
Archer, Cathro & Associates (1981) Limited was commissioned to conduct the fieldwork on both the Four Corners and Finlayson projects. Results from Phase I and Phase II exploration work on both projects were evaluated by the Firestone Ventures management team working with Bill Wengzynowski, President of Archer, Cathro & Associates and discoverer of emerald mineralization on Regal Ridge and Dr. Lee Groat, Professor of Mineralogy at the University of British Columbia. Analyses on all samples were performed by the ALS Chemex Laboratory in Vancouver. There are additional analytical results pending from re-analysis of certain soil samples from the Four Corners property. In addition, several samples of mineralogical interest from the Four Corners and Finlayson projects have been submitted to Dr. Lee Groat for identification and verification.
FINLAYSON PROJECT (Meg, Rusty, Lion and Straw Claims)
The Meg, Rusty, Lion and Straw claims are situated within 7 km of the Regal Ridge emerald occurrence. Firestone Ventures has the properties under option from True North Gems to earn a 60% interest. Phase II exploration was focused on the Straw and Rusty properties.
Straw Property
The Straw property, consisting of 43 claims, is five km southeast of the Regal Ridge emerald occurrence. The Cretaceous intrusion and rock units thought to be genetically related to emerald mineralization at Regal Ridge underlie or are in close proximity to the Straw property. Work done during Phase II defined an area of interest approximately 1500 m x 500 m on the Straw claims. The area of interest is anchored by the Neptune Zone at one end and the Trident Zone at the other end. Anomalous beryllium (up to 6.9 ppm) and anomalous chromium (up to 776 ppm) in soil samples are intermittent along two contour soil lines spaced approximately 150 m apart between the Neptune and Trident Zones.
Neptune Zone
The Neptune Zone, measuring 400 m x 125 m, is on a shallow slope with recessive benches indicating possible linear structures. An area of abundant black tourmaline within chlorite schist of the Fire Lake unit was mapped for a 300 m strike length. The tourmaline varies from massive to needle-like to nodular and is ubiquitous throughout the Neptune Zone area. Within the zone of widespread tourmaline is recessive weathering "golden schist" and abundant quartz-black tourmaline veins as float. In addition, there is a 10 m x 30 m float train of ultramafic rocks exhibiting listwanite alteration. The density of soil samples ranges from 100 m x 50 m to 50 m x 25 m. Anomalous values from soil samples range from 5 ppm to 22.9 ppm beryllium and up to 1120 ppm chromium.
Trident Zone
The Trident zone contains a 3 m long and 10 cm wide area (open at one end) of beryl mineralization discovered in a tourmaline-bearing pegmatite dyke intruding "golden schist" within the Fire Lake unit. The white to pale green, opaque beryl crystals are embedded in a micaceous layer on the vein/wallrock contact and measure up to 1.2 cm across and up to 4 cm long. One crystal embedded in rock shows a crystal face 3 cm wide. It should be noted that the beryl crystals, though opaque, are solid and do not show a "rotten" core. Beryllium and chromium content in soil samples collected from the Trident Zone ranged from 1.26 to 35.4 ppm beryllium and 191 to 823 ppm chromium. The Trident soil anomaly measures 500 m x 125 m.
Rusty Property
The Rusty 1-20 claims are located 9.5 km northwest of Regal Ridge. Work done in Phase II included geological mapping, soil sampling and prospecting. The claims are underlain by Grass Lakes monzonitic metaplutonic rocks which intrude the Devonian Fire Lake mafic metavolcanics and a Devonian micaceous quartzite. Abundant black tourmaline and quartz-tourmaline veins and corresponding beryllium and chromium soil anomalies were found in two areas on the Rusty claims; the West Bowl and the East Bowl. The West bowl soil anomaly measures 600 m x 75 m and consists of scattered beryllium values ranging from 5.08 ppm to 7.38 ppm. Soil samples collected from the East Bowl returned intermittent anomalous values up to 6.33 ppm beryllium and 308 ppm chromium within a 500 x 50 m area.
FOUR CORNERS PROJECT
The Four Corners (4C) property consists of 445 mineral claims located 40 km southeast of the Regal Ridge emerald occurrence. Firestone Ventures has an option from Strategic Metals Ltd. (SMD:TSX-V) to earn a 50% interest in the property. The 4C property is largely underlain by Devonian ultramafic rocks and Late Devonian Fire Lake mafic metavolcanic rocks. Cretaceous Anvil Suite intrusive rocks are exposed in the southern portion of the 4C west claim block.
Phase I fieldwork on both the east and west 4C claim blocks consisted of soil, stream sediment, heavy mineral and rock sampling, prospecting and geological mapping. Results from Phase I focused the exploration effort in Phase II to the west claim block exclusively.
4C Property (west claim block) -- Western Ridge area
Phase II fieldwork delineated four zones of anomalous beryllium in soil. The most promising area is Zone 4, measuring 200 m x 100 m and defined by values of beryllium from 1.5 ppm up to 7.7 ppm and chromium values up to 160 ppm. Rusty "golden" weathering schist within the Devonian Fire Lake unit, abundant black tourmaline and quartz-tourmaline veins were noted.
4C Property (west claim block) -- Central Ridge area
Beryl mineralization was discovered in a tourmaline-bearing pegmatite intruding Devonian Fire Lake unit chlorite schist. One of the beryl crystals is euhedral, opaque to translucent, pale blue-green, 1.3 cm in diameter and 1.7 cm in length. The area is unusual in that there are no significant geochemical anomalies (Be or Cr) associated with the beryl mineralization.
On behalf of the Board
" Dr. Ken Powell"
Chairman and President
For further information please contact Lori Walton, Gemmologist, Consulting Geologist and Director at (780) 428-3465 or lawalton@telus.net.
THE TSX VENTURE EXCHANGE HAS IN NO WAY PASSED UPON THE MERITS OF THE CONTENTS AND HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENT OF THIS RELEASE. THE COMPANY RELIES ON LITIGATION PROTECTION FOR FORWARD-LOOKING STATEMENTS. |
| |
| | You can view the Next News Releases item: Thu Oct 23, 2003, Firestone Ventures Announces Appointment of Chief Financial Officer
You can view the Previous News Releases item: Fri Aug 29, 2003, Beryl Found On Straw Property, Yukon Territory
You can return to the main News Releases page, or press the Back button on your browser.
|
| | |
