Firestone Ventures Acquires Antelope Property
EDMONTON, ALB - Firestone Ventures Inc. reported that it has signed formal agreements with two underlying vendors to earn a 100% interest in the 58.5 hectare Antelope zinc-lead-silver oxide project located 75 km southwest of Eureka, Nevada.
"The road-accessible Antelope project presents Firestone with a promising zinc oxide project in one of the most mining-friendly jurisdictions in the world. This is an early stage exploration project, but with our in-house expertise in zinc oxide exploration we can efficiently evaluate the zinc tonnage potential of Antelope," says Lori Walton, President of Firestone Ventures Inc. "Although our focus will remain in Guatemala we are excited about the possibility of adding to our Company's zinc tonnage through identification of base metal resources on an international scale."
Zinc mineralization hosted in lower Ordovician Hanson Creek Formation was discovered on the Antelope property in the 1980's followed by reverse circulation drilling between 1985 and 1990. Since then, intermittent geologic mapping and geochemical sampling was carried out by various parties. Zinc mineralization (smithsonite with minor sphalerite and galena) is exposed in a 15 metre long trench trending east-west and in a series of prospect pits over a 1.2 kilometre window of outcropping Paleozoic limestone.
During a due diligence visit by Firestone in August, 2009, five continuous chip samples were collected from smithsonite exposed at the bottom of the 15 metre long trench. The five chip samples (each sample taken over 3 metres) contained from 22.3% to 32% zinc and from 1.51% to 3% lead over 15 metres. The orientation of the smithsonite exposed in the trench is unknown. The highest silver value was 2.6 grams/tonne.
Eight additional rock chip samples were collected on the property. Six of the eight chip samples ranging from 1.0 metre to 3.0 metres returned zinc values of over 5.5% up to a maximum value of 20.7%. Seven of the eight chip samples returned lead values over 1,000 ppm (0.10%) up to a maximum value of 2.4% lead. Silver values were generally low (less than 1.4 grams/tonne).
Zinc mineralization at Antelope is a replacement of carbonate rocks, similar to the Company's Torlon Hill zinc-lead-silver deposit in
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