🕐15.05.12 - 13:54 Uhr
FIRESTONE PROVIDES UPDATE ON ZINC-LEAD-SILVER RECONNAISSANCE PROGRAM
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Re: News Release - Tuesday, May 15, 2012
Firestone Provides Update on Zinc-Lead-Silver Reconnaissance
Program
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May 15, 2012 - Firestone Ventures Inc.
("Firestone") (FV:TSX-V;
F5V:FSE), is pleased to announce further results from its ongoing zinc
exploration reconnaissance program in the Central Guatemala Zinc
District.
Chip samples from zinc-lead-silver surface mineralization
contained values up to 51.96% zinc, 3.05% lead and 29.1 ppm silver over
2.4 m.
"The new zinc-lead-silver prospects identified as a result of our
reconnaissance program are at an early stage but preliminary results
are very encouraging," says Pamela Strand, President of Firestone
Ventures Inc.
"Firestone has completed over 20 initial property
examinations of high-grade zinc-lead-silver occurrences in the Central
Guatemala Zinc District and several prospects are targeted for
follow-up property-scale fieldwork."
Rome Project
Firestones new Rome Project is located in Central Guatemala near the
city of Coban and is easily road-accessible.
Zinc-lead-silver
mineralization is hosted in Cretaceous dolomite, brecciated limestone
and phyllite and was historically worked on a small scale for lead.
A
2.4 m rock chip sample across mineralized outcrop contained 51.96%
zinc, 3.05% lead and 29.1 ppm silver.
A second 2.4 m chip sample
several meters from the first sample contained 49.44% zinc, 2.17% lead
and 31.6 ppm silver.
A grab sample with visible galena contained
17.78% zinc, 3.28% lead, and 39.8 ppm silver.
The orientation of the
mineralization is undetermined.
Field crews completed an initial program of geological mapping,
prospecting and soil sampling.
A total of 118 soil samples were
collected on a 50 m by 50 m grid covering an 800 m by 400 m area.
A
broad 200 m wide east-west trending zinc-lead-silver in-soil anomaly
was defined extending to the edges of the grid and is open in three
directions.
A total of 51 of the soil samples yielded values above 500
ppm zinc up to a maximum value of 9199 ppm zinc (0.92%).
Coincident
with the anomalous zinc values were anomalous lead values.
A total of
46 soil samples yielded values above 500 ppm lead to a maximum value of
4344 ppm lead (0.43%).
Six soil samples contained values greater than
4.0 ppm silver, up to a maximum value of 19.9 ppm silver (19.9 g/t).
Field crews are currently extending the soil grid.
In addition, a second zone of interest on the Rome Project area was
identified 2.4 km southeast of the initial soil grid.
Field crews
collected 10 rock samples and 13 soil samples over a 1 km x 1 km area.
Results are pending.
Athens Project
The Athens Project Area is road accessible and is located 30 km from
the city of Coban.
The property features iron-rich gossanous material
and is also underlain by Cretaceous dolomite and brecciated limestone.
Three rock grab samples were collected and the best sample contained
2.44% zinc, 3707 ppm lead and 43.4 ppm silver.
Field crews will begin
a surface exploration program to follow up on these highly encouraging
results.
Central Guatemala Zinc District
Firestone has first mover status in the new Central Guatemala Zinc
District and has assembled a 900 square km land package within a 250 km
long carbonate-hosted zinc-lead-silver belt that has seen little modern
exploration despite the small scale historical mining of numerous oxide
and sulphide zinc occurrences.
Firestones extensive land package
consists of both pending concession exploration license applications
and approved exploration licenses.
Firestone has applied for
exploration concession licenses over both the Rome and Athens Project
areas and approval is pending at the Ministry of Energy and Mines.
Samples are sent to the Inspectorate Guatemala sample preparation
facility in Guatemala City for preparation and then the pulps are sent
by courier to the International Plasma Labs Ltd.
("IPL") facility in
Vancouver, British Columbia, Canada for analysis using 30 element ICP
and 30g FA/AAS.
Over limit zinc and lead analyses were further
analyzed by atomic absorption methods.
The upper limit for zinc is
20%, and samples containing more than this threshold were re-analyzed
using titration.
Soil samples are analyzed using 30 element ICP and 30
g FA/AAS.
Lori Walton, P.Geol., Firestones Qualified Person as defined by
National Instrument 43-101 has reviewed and approved the technical
content of this news release.
Pamela Strand, 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 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) 2012 FIRESTONE VENTURES INC.
(FV) All rights reserved.
For more information visit our website at
http://www.firestoneventures.com/ or send
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