🕐18.05.10 - 12:03 Uhr
Firestone Reports High-Grade Zinc-Lead-Silver Assays from Quetzal Project Trenches
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Re: News Release - Tuesday, May 18, 2010
Firestone Reports High-Grade Zinc-Lead-Silver Assays from Quetzal
Project Trenches
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May 18, 2010 - Firestone Ventures Inc.
(FV:TSX-V;F5V:FSE) ("Firestone"
or the "Company") is pleased to report high-grade zinc-lead-silver
values from seven hand-dug trenches on the Companys Quetzal
zinc-lead-silver property in central Guatemala, Central America.
The
trenching focused on several areas of zinc, lead and silver geochemical
anomalies in soil (see news release dated April 13, 2010).
The best
sample, from Trench No.
1, returned 38.79% zinc, 5.93 % lead and 13.6
g/t silver over 2 metres.
The seven trenches are located in two areas containing soil-colour
anomalies and geochemical anomalies which coincide with historic mine
workings on the property.
The hand-dug east-west trenches varied in
length from 20 to 40 metres.
Each trench was continuously chip-sampled
along its entire length using 2 to 3 metre intervals.
Firestone
geologists collected a total of 76 rock-chip samples from the seven
trenches of which 26 samples returned values exceeding 10% zinc.
Maps
showing the location of the trenches and geochemical soil anomalies are
available at www.firestoneventures.com
Key intervals from the trench sampling on the Quantum Soil Anomaly
follow:
Trenches 1,2,3 -- Quantum Soil Anomaly
The three trenches laid out in the Quantum soil anomaly area expose
about 100 metres of strike of a north-trending mineralized structure.
Mineralization consists of massive smithsonite, limonite gossan with
traces of galena, and gray limestone partially replaced by smithsonite
and is localized along two north-northeast trending en echelon faults
which dip 70 to 80 degrees west.
The largest mineralized interval is comprised of 12 continuous 2 metre
chip samples in Trench No.
1 which returned an average grade of 11.9%
zinc, 4.9% lead and 7.8 g/t silver over an interval of 24 metres.
The
zone is thought to be steeply dipping with an approximate true
thickness of 23.2 metres based on a dip of 75 degrees; however,
mineralization extends beyond the end of the trench as the last sample
assayed 27.7% zinc, 8.5% lead and 12.2 g/t silver.
Trenches 4,5,6,7 -- Glory Soil Anomaly
Trenches 4, 5, 6 and 7 are within the area referred to as the Glory
soil anomaly.
Mineralization in Trenches 4 and 5 appears to be related
to normal faults which trend N to N20W and dip steeply to the west.
Trenches 6 and 7 are in an area of deep, saprolitic style weathering
where no structure could be measured.
Trench 7 consists of a series of
three 2 metre x 2 metre pits hand dug to a depth of 2.5 metres; the
best values returned from the three pits were found in sample #21095
which assayed 1.3% zinc, 1.6% lead and 19.5 g/t silver.
Previously, the Company reported on high grade zinc-lead-silver rock
chip samples collected from surface and from various historic workings
on the property (see news release February 1, 2010) and on a soil
sampling program (news release April 13, 2010).
The Company has
completed a 1,297 m drill program on the Quetzal property.
Assay
results for drill core from this program are pending.
Rock chip samples were sent to the BSI Inspectorate facility in
Guatemala City for preparation and then 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.
This multi-stage analytical procedure ensures that an appropriate lab
method is used to produce reliable data at each lead or zinc
concentration level.
The lab also performs repeat analysis on lab
duplicates to protect against gross analytical error.
Industrial
standards are not being inserted by Firestone at this time.
IPL and
Firestone are both routinely inserting blank samples for quality
control purposes.
The road-accessible Quetzal property is 100% owned by Firestone
subject to a 2% NSR royalty.
It is located 100 kilometres northeast of
Guatemala City, Guatemala.
This news release has been reviewed and approved by John Cleary, (CPG),
Firestones Vice President of Exploration and Qualified Person in
accordance with National Instrument 43-101 and by Al Workman, P.Geo.,
Vice President of Watts, Griffis and McOuat Limited and an Independent
Qualified Person as defined by 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) 2010 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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