🕐24.03.11 - 11:54 Uhr
Firestone Ventures Announces Nevada Drill Plans and Provides Corporate Update
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News Release - Thursday, March 24, 2011
Firestone Ventures Announces Nevada Drill Plans and Provides
Corporate Update
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March 24, 2011 - Firestone Ventures Inc.
("Firestone" or the "Company")
(FV:TSX-V; F5V:FSE) is pleased to announce an update on planning for
the diamond drill program at its Black Mountain zinc-lead-silver
property, located 29 km northeast of Wells, Nevada, U.S.A.
Firestone
Ventures has an option to earn 100% interest in the Black Mountain
project from Kinross Gold (see news release Nov.
29, 2010).
Black
Mountain has excellent road access and is in close proximity to power
and railroad lines.
"We expect to start drilling in May, 2011 contingent on snow
conditions," says Lori Walton, President of Firestone Ventures Inc.
"We are excited to begin our first drill program in Nevada, which is
timely considering the strong long-term outlook for zinc.
In addition
we have started the permitting process for our second drill program in
Nevada at the Antelope zinc-lead-silver property southwest of Eureka."
The drill program at Black Mountain will consist of a minimum of 12
drill holes totalling 1,245 m targeting four areas identified from
Firestones surface exploration program (see news release Nov.
30,
2010).
The drill holes are expected to range between 40 m to over 300
m depth.
A map showing the zones is available at
www.firestoneventures.com.
Corporate Update - Advisor Appointed to Firestone Ventures Inc.
Firestone is pleased to announce the appointment of Jesse Duke, P.Geo.
as Advisor to the Company.
Mr.
Duke is currently the principal of Ibex
Valley Consulting.
He was recently the Manager of an environmental
consulting firm and Director of Mineral Development for the Government
of the Yukon.
His expertise involves managing complex
multidisciplinary projects, government and First Nations relations,
mineral policy and major mine project permitting and licensing.
He has
extensive experience dealing with public communications, dispute
resolution, stakeholder consultations and community relations for major
mining projects.
Mr.
Duke graduated from the University of Alaska with
a B.Sc.
in Geology.
He is a professional geoscientist registered with
the Association of Professional Engineers and Geoscientists of British
Columbia.
In other news, Firestone is pleased to announce that the earn-in period
stipulated in a formal option agreement to earn 100% interest in the
Selegua and Saturno II concessions in Guatemala has been extended by
two years.
These concessions surround the Companys Torlon Hill
zinc-lead-silver project and cover Permian carbonate formations which
are considered to have excellent potential for zinc and lead
mineralization.
Under the original terms of the option agreement
Firestone Ventures was to make a cash payment to the vendor of USD
$5,000 and incur USD $250,000 in exploration expenditures by March 5,
2010 of which a total of USD $35,000 was to be spent by the end of the
first year.
The agreement has been amended so Firestone paid an
additional USD $10,000 on March 5, 2011 and has until March 5, 2013 to
incur a total of USD $325,000 in exploration expenditures.
A 1.5% NSR
is reserved for the vendor, of which 0.5% may be purchased anytime by
Firestone for $1,000,000.
An additional 2% NSR is reserved for an
underlying vendor.
The agreement was previously amended March 5,
2010.
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 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.
For more information visit our website at
http://www.firestoneventures.com/ or send
mailto:
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