Firestone Ventures Provides Update and Overview on Metallurgical Testwork on Firestone's Torlon Hill Zinc-Lead-Silver Deposit
16 Novembre 2011 - 12:30PM
Marketwired
Firestone Ventures Inc. ("Firestone") (TSX
VENTURE:FV)(FRANKFURT:F5V) is pleased to provide an update and
overview on its metallurgical testwork on material from Firestone's
Torlon Hill zinc-lead-silver deposit in Guatemala, Central
America.
"We note that Guatemala will have a new President taking office
in the New Year. We look forward to working with the new
administration in developing our zinc projects in a socially and
environmentally responsible manner," says Lori Walton, President of
Firestone Ventures Inc. "Besides advancing several of our new zinc
discoveries in Guatemala to the drill-ready stage, we have been
diligently evaluating metallurgical testwork on zinc material from
the Torlon Hill deposit."
Metallurgical Overview and Update
Firestone has conducted extensive preliminary metallurgical
testwork on mineralized material from Torlon Hill (see news
releases Sept. 17, 2008, Dec. 10, 2008 and March 4, 2011).
Laboratories engaged include SGS Lakefield, Canada; Process
Research Associates Ltd., Canada; MetaLeach Limited, Australia;
Engitec Technologies, Italy; and the Department of Materials
Engineering of University of British Columbia, Canada. Testwork
completed includes detailed mineralogical studies and encompasses a
range of different processing methods. These include dense media
separation, flotation and zinc leaching utilizing different
techniques and reagents, including AmmLeach®.
As a result and after detailed review, Firestone is in
discussions with Alexander Mining plc ("Alexander") on proposals
for further bench-scale work, column testing and a demonstration
test plant designed to further test the AmmLeach® process. The
AmmLeach® process was developed by MetaLeach Limited (a wholly
owned subsidiary of Alexander) and is a proprietary ammonia-based
process for leaching metal from high acid consuming
carbonate-hosted ores. The key proprietary step is a tailored
pre-treatment of the ore prior to leaching. The AmmLeach® process
was selected as the most promising option to pursue for Torlon Hill
based on very encouraging test results to date and the following
factors:
-- Ability to produce a high value (clean zinc oxide) cost-effective
product without large electrical energy requirements (as necessary for
production of zinc metal). Production of zinc metal remains an option to
consider in the future, especially with increased zinc ore/concentrate
feed.
-- Ambient temperature and pressure process using conventional equipment
with extremely low reagent consumption compared to acid.
-- Generally "scalable" process that does not require large throughputs for
capital efficiency.
-- Environmentally clean option with no acid mine drainage problems, and
negligible air emissions and recycling of almost all reagents.
-- Efficient mining scenario with Torlon zinc-lead-silver mineralization
being on or near surface and high-grade (10.55% Zn-Eq).
-- The AmmLeach® process shows promising results on both smithsonite and
hemimorphite - carbonate and silicate zinc ore minerals common on
Firestone's properties.
-- Can potentially accommodate concentrate feed from Firestone's other zinc
occurrences in Guatemala.
Alexander Mining - AmmLeach® technology
Leaching of eleven selected representative samples from Torlon
Hill with average head grade assays of greater than or equal to
6.99% zinc showed that the average zinc dissolution using AmmLeach®
was 79% and potentially high recoveries of greater than 75% should
be achievable. In addition, AmmLeach® amenability tests on
Firestone's drill core samples from the Quetzal zinc-lead-silver
property produced encouraging results. It is anticipated that
recoveries could further be improved by optimization of the
leaching circuit.
Zinc-Lead-Silver Exploration Update
Regional and property scale exploration fieldwork is progressing
on Firestone's 700 sq km of land holdings extending across a 250 km
historical carbonate-hosted zinc-lead-silver district in Guatemala.
Scant modern exploration has taken place despite the historical
mining of numerous oxide and sulphide zinc occurrences on surface.
Firestone drilled the first of several compelling zinc properties
in 2010 (see news release on Quetzal project, June 24, 2010) and is
advancing several other properties, including the new La Luna
project, to the drill ready stage.
In western Guatemala, Firestone is advancing its 100% owned,
road-accessible Torlon Hill zinc-lead-silver project in Guatemala,
Central America. The combined Measured and Indicated Resource
totals 1,891,636 tonnes grading 7.32% zinc, 2.41% lead and 14.25
g/t silver (at a 3% zinc-equivalent cut-off). An additional 169,705
tonnes is classified as Inferred resources grading 4.42% zinc,
1.96% lead and 12.53 g/t silver (see news release Nov. 18, 2008).
In addition, there is a basal zone of unoxidized sulphide
mineralization which is not yet well defined by the drilling to
date. The deposit is open to expansion and high-grade zinc oxide
mineralization defined to date is on or near surface. Smithsonite
(ZnCO3) is the prevalent zinc mineral at Torlon Hill, occurring as
a replacement to limestone and resulting in high grade
mineralization locally exceeding 40% zinc. Other non-sulphide zinc
minerals are relatively rare and there is no evidence of
deleterious zinc-clay minerals such as sauconite. Firestone is
dedicated to developing and maintaining supportive community and
government relationships at Torlon Hill and in Guatemala.
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.comwww.firestoneventures.com
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