🕐04.03.11 - 19:27 Uhr
Positive Test Results from First Round of Metallurgical Testwork using AmmLeach
on Firestones Torlon Hill Zinc-Lead-Silver Oxide Deposit
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Re: News Release - Friday, March 04, 2011
Positive Test Results from First Round of Metallurgical Testwork
using AmmLeach on Firestones Torlon Hill Zinc-Lead-Silver
Oxide Deposit
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.
AmmLeach amenability testwork on selected representative samples
from the Torlon Hill zinc deposit, with a head grade of =6.99% zinc,
resulted in an average zinc dissolution of 79%; this shows that zinc
recoveries of >75% should be achievable
.
Alexander to develop a conceptual process flow sheet for a treatment
plant to produce zinc metal using AmmLeach
.
Collaborative relationship with Firestone to target further
opportunities to use AmmLeach on Firestones zinc oxide projects
in Guatemala and and Nevada.
March 4, 2011 - Firestone Ventures Inc.
("Firestone") (FV:TSX-V;
F5V:FSE) and Alexander Mining plc ("Alexander") (AXM:AIM; AXD:TSX-V)
are pleased to announce that AmmLeach amenability test work
conducted by Alexanders wholly owned subsidiary, MetaLeach Limited
(MetaLeach), for Firestone on its Torlon Hill zinc oxide project
(Torlon Hill) in Guatemala produced highly favourable results.
For eleven selected representative zinc oxide ore samples, where the
head grade assays were =6.99% zinc, the average zinc dissolution was
79% and hence potentially high recoveries of >75% should be achievable.
It is anticipated that recoveries can further be improved by
optimisation of the leaching conditions.
As a result, Firestone has requested Alexander submit a conceptual
process flow sheet for Torlon Hill and a plan for substantial
additional next stage testwork.
The conceptual flow sheet will be for
a heap leach solvent-extraction electro-winning (SX-EW) treatment
plant using AmmLeach.
The conceptual flow sheet could be the
precursor to a decision by Firestone to commit to a full feasibility
study for Torlon Hill using AmmLeach.
Commercial terms would be
agreed between Firestone, Alexander and MetaLeach at that time.
Additionally, Alexander and Firestone have agreed to work
collaboratively to identify and target other high acid-consuming,
carbonate-hosted zinc oxide opportunities in Firestones portfolio
which may be suitable for AmmLeach.
Lori Walton, President and CEO of Firestone, said:
"We are very pleased with the initial results using the AmmLeach
process showing that potential recoveries of over 75% zinc could be
achievable.
Further work is warranted and we plan to work together
with Alexander Mining on developing a conceptual flow sheet that will
provide valuable information for a future feasibility study."
Martin Rosser, CEO of Alexander, said:
"We are delighted to be working with Firestone on investigating the use
of AmmLeach at its Torlon Hill zinc oxide project.
Firestone has
been advancing assiduously its zinc exploration activities in Guatemala
and has built up an extensive zinc oxide property portfolio.
This step
is a significant one in Alexanders aim of demonstrating the commercial
use of AmmLeach for processing high grade zinc oxide deposits."
Firestone Ventures Inc.
is advancing its road-accessible Torlon Hill
zinc-lead-silver project in Guatemala, Central America.
The combined
Measured and Indicated Resource totals 1,891,636 tonnes grading 7.32%
zinc, 2.41% lead and 14.25 g/t silver (at a 3% zinc-equivalent
cut-off).
An additional 169,705 tonnes is classified as Inferred
resources grading 4.42% zinc, 1.96% lead and 12.53 g/t silver (see news
release Nov.
18, 2008).
In addition, there is a basal zone of
unoxidized sulphide mineralization which is not yet well defined by the
drilling to date.
The deposit is open to expansion and high-grade zinc
oxide mineralization defined to date is on or near surface.
Smithsonite (ZnCO3) is the prevalent zinc mineral at Torlon Hill,
occurring as a replacement to limestone and resulting in high grade
mineralization locally exceeding 40% zinc.
Other non-sulphide zinc
minerals are relatively rare and there is no evidence of deleterious
zinc-clay minerals such as sauconite.
Firestone is dedicated to
developing and maintaining supportive community and government
relationships at Torlon Hill and in Guatemala.
As well as Torlon Hill, Firestone has a significant land position
throughout a historical carbonate-hosted zinc-lead-silver district
extending across a 250km belt in Guatemala.
Scant modern exploration
has taken place in the carbonate belt despite the historical mining of
numerous oxide and sulphide zinc occurrences on surface.
Firestone is
currently evaluating and sampling a number of these occurrences.
In
addition, Firestone is working on drilling its zinc oxide prospects in
Nevada, U.S.A.
Alexander is a mining and mineral processing technology company with a
reputation for strong technical management, allied with financial
markets expertise and experience.
Through its wholly owned
subsidiary MetaLeach Limited, it is solely focused on the
commercialisation of its proprietary mineral processing technology.
Lori Walton, P.
Geol., President
Trading Symbol: FV:TSX-V;F5V: FSE
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
www.firestoneventures.com
This news release may contain forward looking statements, being
statements which are not historical facts, including, without
limitation, statements regarding potential mineralization, exploration
results, resource or reserve estimates, anticipated production or
results, sales, revenues, costs, "best-efforts" financings or
discussions of future plans and objectives.
There can be no assurance
that such statements will prove accurate.
Such statements are
necessarily based upon a number of estimates and assumptions that are
subject to numerous risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated
or projected.
Important factors that could cause actual results to
differ materially from the Companys expectations are in Company
documents filed from time to time with the TSX Venture Exchange and
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www.sedar.com.
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revise or update such statements unless required by law.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2011 FIRESTONE VENTURES INC.
(FV) All rights reserved.
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