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| | Thu Nov 4, 2004
Firestone Announces Initial Results from Amazing Grace Property
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| | (Nov. 4, 2004) - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce positive results from a recent field program on the road accessible, 32-unit, 800-hectare Amazing Grace (McPhee) property, 15 km southeast of Castlegar, British Columbia, Canada. Firestone has an option to earn a 100% interest in the property. There are three mineralized showings: the High Grade, Cordierite, and "Maude S" prospects.
Two grab samples from the High Grade prospect returned 3.41 g/t gold (0.10 oz/ton) with 167 g/t (4.87 oz/ton) silver, and 81.3 g/t gold (2.37 oz/ton) with 53.4 g/t (1.56 oz/ton) silver respectively. A 0.55m chip sample returned 28.5 g/t gold (0.83 oz/ton) and 18.4 g/t (0.54 oz/ton) silver. Visible gold was noted throughout the High Grade prospect. Similarly mineralized float discovered 600m to the west, also with visible gold, returned 54.5 g/t gold (1.59 oz/ton) and 28 g/t (0.82 oz/ton) silver. Ice directions indicate a separate source for the float.
Grab rock samples of the "Cordierite Showing" returned anomalous copper, silver and gold values ranging from 385 to 699 ppm copper, 0.3 to 16.8 g/t silver and 0.105 to 0.258 g/t gold.
Year-2004 grab and composite grab sampling of the "Maude S" prospect returned values from 1.415 g/t gold (0.04 oz/ton) to 8.12 g/t (0.24 oz/ton) gold. Mineralization consists of gold-bearing quartz veins and strongly altered and mineralized wall rock within a north trending dilational structure. Importantly, values confirm earlier high results by the vendor from visually "barren" veins; similar mineralization may occur elsewhere. The Maude S veins produced 330 oz (10,265g) gold and 57 oz (1,772g) silver from 159 tons (144 tonnes) of ore from 1936-1941 (B.C. Minfile, 2004). .
This News Release has been reviewed by Carl Schulze, BSc, PGeo, Qualified Person for the property, in accordance with regulations under National Instrument 43-101. Analysis of all samples was performed by ALS Chemex Laboratories of North Vancouver, B.C. The historic production figures have not been audited or verified by Firestone Ventures. Firestone is planning a field program for spring, 2005 to fully delineate the prospects on the Amazing Grace property.
Firestone Ventures Inc. is a public company listed on the TSX-Venture Exchange. The company's mandate is the acquisition and exploration of a diverse portfolio of high quality precious metal, base metal and gemstone properties.
For further information, please contact:
Lori Walton, V.P. Exploration and Business Development
Toll Free: 1-800-221-5588; Fax: 1-780-428-3476
info@firestoneventures.com
www.firestoneventures.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release |
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