Bayfield Drills 20.35 Metres of 2.27 G/T Au and 7.76 G/T Ag at Rainy River, NW Ontario
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/03/11 -- Bayfield Ventures Corp. (TSX VENTURE: BYV) (FRANKFURT: B4N) (the 'Company') is pleased to announce additional significant gold intercepts on its 100% owned Burns Block property in the Rainy River District of north-western Ontario. The Burns Block is situated adjacent to the east and on strike to Rainy River Resources' (TSX-V: RR) multi-million ounce gold deposit.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
- North fence drilling continues to intersect shallow, well mineralized intervals including 20.35 metres of 2.27 g/t Au and 7.76 g/t Ag within 77.25 metres of 0.81 g/t Au and 4.83 g/t Ag in hole RR11-36
- A 30 metre step out from hole RR11-14 on the central drill fence intercepts strong gold and silver mineralization including 12.0 metres of 1.56 g/t Au and 34.69 g/t Ag (2.43 g/t Au equivalent over 12.0 metres) in hole RR11-41
- A second gold and silver mineralized zone intersected in hole RR11-36 from 425.8 metres to 434.95 metres down hole is believed to be the down dip extension of Rainy River's 433 Zone
- Assays pending for eighteen additional holes
Discussion of Results for Holes RR11-34 to RR11-42:
Infill drilling of the central and north exploration fences continues to intersect notable gold and silver mineralization at the Burns Block. The assays summarized in the table below are the results received to date from this work along with a single hole from the eastward extension on the south exploration fence (RR11-38).
All holes completed during the infill drilling intersected the highly foliated and sericite altered zone which hosts the vast majority of known gold and silver mineralization at the Burns Block. Gold and silver values within the zone are highly erratic on the scale of individual samples but, when viewed as wider intervals across the entire zone, show much more continuity.
An excellent example of this characteristic is found in the assay results from a common collar three hole fan on the north fence (holes RR11-34, 35 and 36). Detailed examination of the listed metre-scale intervals shows huge variability in both gold and silver content. However, when the gold equivalent values (AuEq) of the largest listed intervals for each of the holes are compared, the variability is much lower. This data strongly suggests that the combined gold and silver mineralization within the foliated and altered zone has decent continuity and implies that open pit mining of the entire zone could potentially be modeled.
Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
Gold and Silver Assay Results from Central and North Fence Infill Drilling:
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DRILL HOLE FROM (m) TO (m) INTERVAL (m) Au (g/t) Ag (g/t) AuEq (g/t)
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RR11-34 87.50 114.90 27.40 0.51 23.46 1.09
including 92.60 108.80 16.20 0.65 29.25 1.39
including 92.60 93.60 1.00 2.49 198.00 7.44
and 106.80 108.80 2.00 2.51 66.60 4.18
123.00 125.10 2.10 0.41 22.50 0.98
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RR11-35 111.85 156.10 44.25 0.46 5.87 0.61
including 111.85 121.00 9.15 1.21 10.80 1.48
including 111.85 112.90 1.05 4.11 36.00 5.01
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RR11-36 135.20 212.45 77.25 0.81 4.83 0.93
including 140.30 160.65 20.35 2.27 7.76 2.46
including 141.30 145.40 4.10 3.30 17.19 3.73
including 143.40 145.40 2.00 5.75 11.55 6.04
including 159.10 160.65 1.55 18.90 12.70 19.22
425.80 434.95 9.15 0.51 6.09 0.66
including 425.80 427.30 1.50 1.46 4.00 1.56
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RR11-37 136.25 139.30 3.05 0.33 30.61 1.10
181.95 194.15 12.20 0.53 4.98 0.65
including 189.55 191.10 1.55 1.31 7.40 1.49
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RR11-38 287.40 288.80 1.40 0.86 1.00 0.88
356.00 359.00 3.00 0.28 6.55 0.44
390.50 402.50 12.00 0.21 3.89 0.30
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RR11-39 118.05 162.15 44.10 0.30 5.62 0.44
including 118.05 124.05 6.00 0.99 10.25 1.24
including 118.05 121.05 3.00 1.47 48.90 2.69
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RR11-40 219.50 222.50 3.00 0.12 21.30 0.66
243.50 246.50 3.00 0.82 25.15 1.45
368.00 381.50 13.50 0.87 5.68 1.02
including 377.00 378.50 1.50 2.56 4.40 2.67
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RR11-41 14.50 17.50 3.00 0.56 1.00 0.59
210.00 222.00 12.00 1.56 34.69 2.43
including 212.70 218.80 6.10 2.43 61.66 3.97
including 216.10 218.80 2.70 4.09 107.29 6.77
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RR11-42 82.90 119.50 36.60 0.22 11.07 0.50
including 93.60 108.85 15.25 0.32 14.30 0.68
including 105.80 107.30 1.50 1.27 61.80 2.82
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(i) g/t = grams per metric tonne
(i) AuEq (g/t) values calculated at the current 40 to 1 (gold price vs.
silver price) ratio and metallurgical recoveries and net smelter
returns are assumed to be 100%
Bayfield continues to intersect highly anomalous gold and silver mineralization within the interpreted down dip extension of Rainy River's 433 Zone. Drill hole RR11-36 intersected 9.15 metres of 0.51 g/t gold and 6.09 g/t silver from 425.8 metres to 434.95 metres down hole. While not high grade, these results clearly indicate the potential for the discovery of higher grades within this underexplored mineralized zone at the Burns Block. Future drilling will further explore this secondary deeper zone.
Current Exploration Summary:
Bayfield is continuing its aggressive exploration and delineation of mineralized zones on the Burns Block. Three hydrostat core rigs are currently in operation. The program is focused on two complimentary exploration efforts, infill drilling in the west portion of the block and eastward exploration towards the central portion of the block. Assays are pending for eighteen additionally completed holes (RR11-43 through RR11-60).
Drilling has commenced this week on the Far North Exploration Fence at the Burns project. This fence is located 60 metres north of the North Fence and is designed to explore the main mineralized zone up into the near surface environment. Furthermore, this fence will be used to explore for gold and silver mineralization in the down dip extension of Rainy River Resources' prolific 433 Zone.
Initial plans for commencing drill exploration of Bayfield's 100% owned large and highly prospective 'C' Block property are underway. It is anticipated that a fourth drill will be brought in to do this first round drill test of the eastern portion of the 'C' Block.
Quality Assurance:
Drill core analysis and assaying is being conducted by ACT Labs in Thunder Bay, Ont. The lab is ISO/IEC 17025:2005 (CAN-P-4E) certified. The drill core is split and sampled in standard 0.5 metre to 1 metre intervals. The core samples were analyzed for gold by 30-gm fire assay with AA finish and by gravimetric methods from assays over 3000 ppb (over limit). Screened total metallic assays are being performed on samples assaying over 10,000 ppb. The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.
Shane Hu, P.Geo., Project Geologist for Bayfield Ventures is the Qualified Person, as defined by National Instrument 43-101 and supervised both the project field and the preparation of the technical information in this release.
Quality Assurance:
Drill core analysis and assaying is being conducted by ACT Labs in Thunder Bay, Ont. The lab is ISO/IEC 17025:2005 (CAN-P-4E) certified. The drill core is split and sampled in standard 0.5 metre to 1 metre intervals. The core samples were analyzed for gold by 30-gm fire assay with AA finish and by gravimetric methods from assays over 3000 ppb (over limit). Screened total metallic assays are being performed on samples assaying over 10,000 ppb. The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.
Shane Hu, P.Geo., Project Geologist for Bayfield Ventures is the Qualified Person, as defined by National Instrument 43-101 and supervised both the project field and the preparation of the technical information in this release.
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold in the Rainy River District of north-western Ontario.
The Company has approximately 61 million shares outstanding and over $9 million in its treasury.
On February 15th, Bayfield Ventures was recognized as a TSX Venture 50® company in 2011. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license. The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2010.
For further information on Bayfield Ventures Corp. (TSX VENTURE: BYV), visit the Company's web site at www.bayfieldventures.com.
For drilling updates, follow Bayfield on Facebook: http://www.facebook.com/group.php?gid=56518514278&ref=mf#!/group.php?gid=56518514278&v=wall.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, Chairman and CEO
This news release may contain certain 'Forward-Looking Statements' that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Contacts:
Bayfield Ventures Corp.
James G. Pettit
Chairman and CEO
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
Bayfield Ventures Corp.
Don Myers
Director
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
info@bayfieldventures.com
www.bayfieldventures.com
Envoy Strategic Partners Investor Relations
Jay Bedard
416-977-7778
jay@envoystrategicpartners.com