🕐02.11.11 - 11:54 Uhr
FIRESTONE VENTURES ADVANCES LA LUNA ZINC-LEAD-SILVER PROPERTY
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Re: News Release - Wednesday, November 02, 2011
Firestone Ventures Advances La Luna Zinc-Lead-Silver Property
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November 2, 2011 - Firestone Ventures Inc.
("Firestone" or the
"Company") (FV: TSX-V; F5V:FSE) is pleased to provide an update on its
on-going regional exploration program targeting zinc-lead-silver
mineralization in central Guatemala, including follow-up fieldwork on
the La Luna property.
"Given the excellent initial results from the La Luna property, our
field crew returned to fast-track the La Luna project to drill-ready
status," says Lori Walton, President of Firestone Ventures Inc.
"The
uplift and weathering history in the Guatemala zinc carbonate belt has
resulted in pervasive and deep oxidation and ideal circumstances for
the formation of supergene zinc oxide deposits.
In addition, the
region has considerable potential for conventional Mississippi
Valley-Type (MVT) zinc-lead-silver sulphide mineralization.
MVT
deposits typically occur in clusters or districts with multiple
deposits over hundreds of square kilometer having similar geological
settings."
Field crews returned to the road-accessible La Luna high-grade
zinc-lead-silver project to conduct follow-up sampling, and geological
mapping with the goal of defining drill targets.
The La Luna property
has historically been worked, on a small scale, for lead and silver,
but Firestone is the first company to evaluate its zinc potential.
Initial soil geochemistry, prospecting and sampling outlined a series
of mineralized zones and anomalies possibly extending east-southeast
for 3 km.
In addition, Firestone field crews conducted extensive
underground mapping and sampling of historical tunnels/adits.
Chip
samples from Tunnels #1, 2, 3, 4 and 11 returned significant high-grade
zinc.
Several individual chip samples over 2 metres from the tunnels
returned over 25% zinc (see news release September 13, 2011).
Mineralization consists of smithsonite/hemimorphite and galena.
The follow-up program at La Luna consisted of extending the existing
soil grid and further examining the zinc-lead mineralization in the
tunnels to determine size potential for zinc-lead-silver tonnage and
drill-readiness.
The most extensive zinc-lead-silver mineralization at La Luna is
exposed in Tunnel #11.
A total of 30 chip samples were collected
during the initial program.
Individual chip samples returned up to
31.88% zinc, 5.96% lead and 44.5 ppm silver over 2 metres (see
September 13, 2011 news release).
Zinc-lead-silver mineralization at
La Luna is hosted in brecciated limestone/dolomite within the lowest
stratigraphic unit in a sequence of Jurassic to Cretaceous carbonate
rocks.
Follow-up detailed mapping and structural measurements of the
Tunnel #11 mineralization indicates that the exposed high-grade
zinc-lead mineralization is at least 11 metres wide by 51 metres thick
and extends for at least 40 metres.
Tunnels #1 to #4 have also been examined in detail and although no
preferred orientation for the zinc-lead-silver mineralization has yet
been determined, there appears to be a strong structural control that
can be drill-tested.
Previously reported chip samples from the tunnels
contain high-grade zinc and lead; several samples over 2 metres
contained in excess of 25% zinc and greater than 10% lead.
In
addition, a silver rich zone was defined in Tunnel #2; a total of three
continuous chip samples averaged 5.25% zinc, 11.8% lead and 138.73 ppm
(4.02 oz/t) silver over 6 metres.
Field crews are also working on follow-up field exploration at the
Quetzal project, also in central Guatemala.
The Quetzal property was
drilled for the first time in 2010 (see news release June 24, 2010).
Drill results include 10 metres grading 20.0% zinc, 1.2% lead and 13.9
ppm silver.
The current program consists of detailed property mapping,
additional trenching with associated trench mapping and sampling.
New
interpretations regarding the mineralization are being developed based
on these new observations.
In addition, several other historical
zinc-lead-silver occurrences in central Guatemala are being examined.
The technical information in this document has been reviewed and
approved by Lori Walton, P.
Geo., President of Firestone and a
Qualified Person in accordance with NI 43-101.
Lori Walton, P.
Geol., President
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
www.firestoneventures.com
Trading Symbol: FV:TSX-V;F5V: FSE
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
provincial securities regulators, most of which are available at
www.sedar.com.
The Company disclaims any intention or obligation to
revise or update such statements.
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.
For more information visit our website at
http://www.firestoneventures.com/ or send
mailto:
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