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| | Wed Jul 21, 2004
Firestone Ventures Reports on Sonora Gulch and Morris Projects
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| | Firestone Ventures Inc. (FV-TSX.V) is pleased to announce positive geochemical results from the Phase 1 field program at the Sonora project, 110 km northwest of Carmacks, Yukon Territory, Canada. The 10-day program, focusing on the K-467 Zone along Little Klines Gulch (see Press Release, April 26, 2004) confirmed potential for mineralization to extend across relatively unexplored areas beyond known delineated zones.
A total of 19 soil samples were collected at 100m intervals along a north-south line east of Hayes Creek. No geochemical exploration in this area was described in past literature. Samples from the southern end of the line returned background gold values (<0.005 g/t gold); however, soil samples along the northern portion returned anomalous values up to 0.395 g/t gold. The northernmost 300m returned an average of 0.268 g/t gold with elevated copper and silver values, part of an 800m interval averaging 0.133 g/t gold within forested areas having good soil development. Eight additional soil samples taken along the K-467 Zone averaged 0.020 g/t gold across 200m. One additional soil sample taken to the south, overlying quartz-porphyritic intrusive rock hosting sulphide-bearing quartz veins, returned 0.222 g/t gold, 8.8 g/t silver and 0.187% copper.
A total of 45 rock samples were collected from the Sonora property, returning values from 0.010 to 10.1 g/t gold. The best value, associated with 9.5 g/t silver, was returned from a 0.7m chip sample of gouge within an existing trench 1.1 km west-northwest of Little Klines Gulch. More extensive gouge within this trench suggests potential for further high-grade mineralization. Gold values in rock from the K-467 area ranged from 0.010 to 0.232 g/t gold. The latter, associated with 8.4 g/t silver and 0.168% copper, was returned from a 1.4m chip sample across intrusive-hosted sheeted quartz-sulphide veins along Hayes Creek. A composite grab sample of intrusive-hosted quartz-arsenopyrite veins 250m to the south returned 0.950 g/t gold and 10.6 g/t silver. This setting is similar to mineralization within the "Gold Vein Zone" 2.3 km to the west, suggesting these zones may be contiguous.
Results of eight silt samples ranged from <0.005 to 1.290 g/t gold, the latter from Little Klines Gulch draining the K-467 Zone. Results include values of 0.186 g/t gold from a stream north of the K-467 Zone, and 0.051 g/t gold obtained from a stream within the 800m soil geochemical anomaly.
The next exploration phase will consist of an extensive program of line cutting, surface geophysics, geochemical sampling, and detailed geological and structural mapping across the "Gold Vein", "Tetradymite Vein" and K-467 Zone areas, and the newly discovered soil anomaly east of Hayes Creek. Results from this will determine targets for a subsequent diamond-drilling program.
Morris Project, British Columbia
Firestone's field crew has completed a one-week surface exploration program of detailed geological mapping and rock and soil geochemical sampling on the Morris property, 200 km southwest of Williams Lake, British Columbia. The property hosts gold and silver-bearing quartz-arsenic-antimony veins which underwent limited underground mining in the early 20th century. The 2004 program included due-diligence sampling of the known veins; the previous operator reported gold values from 23 rock samples of vein material ranging from 0.030 to 1.490 oz/ton gold, 0.01 to 31.01 oz/ton silver and 0.04 to 19.84% antimony. Quartz-arsenopyrite-stibnite vein talus was discovered in a separate cirque 0.5 km east of the known veins; this was not noted in past literature. A total of 62 rock, 20 soil and 2 silt samples were taken during the Firestone program; assay results are pending.
This news release was reviewed and the technical content approved by Carl Schulze, PGeo., Qualified Person for the project in accordance with regulations under National Instrument 43-101. All assay results for the 2004 programs reported in the news release were provided by ALS Chemex of North Vancouver, B.C.
Firestone Ventures Inc. is a public company listed on the TSX-Venture Exchange. The company's intent is to explore a diverse and high quality portfolio of precious metal, base metal and gemstone properties. For additional information, please see the company's website at www.firestoneventures.com.
For further information contact:
Ken Powell, President and Chairman
1-888-221-5588
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. |
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