Firestone Ventures Inc.: Update on AmmLeach(R) Study for Firestone's Torlon Hill Zinc-Lead-Silver Deposit
EDMONTON, ALBERTA -- (Marketwire) -- 06/02/11 -- Firestone Ventures Inc. (TSX VENTURE: FV)(FRANKFURT: F5V) ('Firestone') is pleased to announce that further to its collaborative relationship with Alexander Mining (see news release March 4, 2011) a report from David Lunt of Stirling Process Engineering ('Study') presenting a conceptual flow sheet using AmmLeach® for processing material from Firestone's Torlon Hill property has been received.
'We are reviewing this Study, which builds on previous testwork showing promising results from amenability testwork using AmmLeach® on Torlon Hill zinc-lead-silver samples,' says Lori Walton, President of Firestone Ventures Inc. 'In addition, the AmmLeach® process shows positive leaching recoveries on both smithsonite and hemimorphite - the two primary zinc-bearing minerals present at our projects in Nevada and Guatemala.'
The Study summarizes a relatively simple conceptual operation involving heap leaching, solvent extraction and stream stripping to produce a zinc oxide product. The adoption of heap leaching would eliminate the need for milling, agitation leaching equipment and solid-liquid separation. Cost savings would be realized through the use of AmmLeach® since no on-site acid plant is required.
Firestone will examine the Study in conjunction with additional information on metallurgical testing to decide, in discussion with Alexander, on the next steps which may include further bench-scale work, heap leach column testing and a demonstration scale pilot plant. Firestone and Alexander will continue to work collaboratively to advance the Torlon Hill project and to identify and target other carbonate-hosted zinc oxide opportunities in Firestone's portfolio which may be suitable for AmmLeach®.
About Firestone Ventures
Firestone Ventures Inc. is advancing its 100% owned road-accessible Torlon Hill zinc-lead-silver deposit in Guatemala, Central America. In addition to Torlon Hill, Firestone has a significant land position throughout a historical carbonate hosted zinc-lead-silver district extending across a 250km belt in Guatemala. Scant modern exploration has taken place in the carbonate belt despite the historical mining of numerous oxide and sulphide zinc occurrences on surface. Firestone is currently evaluating and sampling a number of these occurrences. In addition, Firestone is drilling its zinc prospects in Nevada, U.S.A.
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