Positive Preliminary AmmLeach(C) Amenability Testwork on Samples From Firestone's Zinc Properties in Nevada
EDMONTON, ALBERTA -- (Marketwire) -- 04/13/11 -- Firestone Ventures Inc. ('Firestone') (TSX VENTURE: FV)(FRANKFURT: F5V) and Alexander Mining plc ('Alexander') (TSX VENTURE: AXD)(AIM: AXM) are pleased to announce that preliminary stage amenability tests using the AmmLeach© process on two grab rock samples with grades of 15.3% and 16.3% zinc, from Firestone's Black Mountain and Antelope zinc properties in Nevada, produced high leaching recoveries.
Lori Walton, President and CEO of Firestone, said:
'We are very encouraged by these early stage characterization tests, which show excellent leaching recoveries. What is interesting is that the AmmLeach© process appears to work on both smithsonite and hemimorphite - carbonate and silicate zinc minerals respectively. These are the two primary zinc-bearing minerals present at both our Black Mountain and Antelope zinc exploration project areas.'
Martin Rosser, CEO of Alexander, said:
'These positive results certainly warrant further work on representative samples from Black Mountain and Antelope. We look forward to discussing the next steps when ready with Firestone.'
The aim of the testwork was to test the amenability of two hand-picked grab samples from Firestone's Black Mountain property and Antelope property to the AmmLeach© process. No attempt was made to collect a representative sample or to optimize leach recoveries. It is stressed that the tests are very preliminary characterization tests on grab samples of high-grade material and further testing will be required upon completion of drill programs.
Firestone has a 1,245 m drill program planned to begin in May at its road-accessible Black Mountain zinc-lead-silver property located 29 km northeast of Wells, Nevada, U.S.A. Firestone has an option to earn 100% interest in the Black Mountain project from Kinross Gold (see news releases March 24, 2011 and Nov. 29, 2010). Structurally controlled zinc mineralization at Black Mountain consisting of hemimorphite and smithsonite is hosted by Devonian carbonate rocks. In addition, the permitting process is underway for a late 2011 drilling program at Firestone's Antelope zinc-lead-silver property, southwest of Eureka, Nevada.
The AmmLeach© process, developed by MetaLeach Limited (a wholly owned subsidiary of Alexander Mining plc), uses a proprietary ammonia based process for leaching high acid consuming ores that are very costly or not economic to treat using acid leaching technology. Recently, Firestone announced positive test results using AmmLeach© on selected representative samples from the Torlon Hill zinc-lead-silver deposit in Guatemala, Central America (see news release of March 4, 2011). As a result, Firestone has requested Alexander submit a conceptual process flow sheet for Torlon Hill and a plan for substantial next stage testwork.
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 Company's 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.
Contacts:
Firestone Ventures Inc.
Lori Walton, P.Geol.
President
Toll Free: 1-888-221-5588
(780) 428-3476 (FAX)
info@firestoneventures.com
www.firestoneventures.com