Bayfield Clarifies Misinformation by US Newsletter Writer
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/27/11 -- Bayfield Ventures Corp. (TSX VENTURE: BYV) (FWB: B4N) (the 'Company') is issuing this news release as a result of yesterday's interview on BNN with a US based newsletter writer discussing disclosure of Bayfield's drill results on its Burns Block property adjacent to Rainy River Resources' gold and silver deposit located in North-western Ontario.
Rainy River gold properties claims map: http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Factual errors were made in the BNN segment titled 'Commodities: July 26, 2011: Evaluating Junior Miners' when the US newsletter writer stated that Bayfield's latest drill results show a 1 (one) metre interval of high grade at a depth of 300 to 400 metres and the rest would be considered waste rock. The US based newsletter writer repeats several times throughout the interview the 1 (one) metre only of high-grade and goes onto say that there is little continuity between the high grade holes. The same US newsletter writer was also quoted in a recent Northern Miner article.
In fact, Bayfield's latest drill results on Hole RR11-71 show an 11.2 metre intersection of 60.05 grams per tonne gold and 362.96 grams per tonne silver starting at a down hole depth of 47.80 metres. Given the 70 degree angle of the hole, this intersected mineralization starts at a true depth of approximately 42.0 metres below surface. This mineralized zone dips south at 50 to 70 degrees and strikes nearly east-west in the western portion of the Burns Block.
Below is a chart breaking down the 11.2 metre intersection of Hole RR11-71:
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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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RR11-71 47.80 48.60 0.80 224.00 86.90 226.07
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and 48.60 50.00 1.40 6.49 52.20 7.73
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and 50.00 51.00 1.00 19.90 82.10 21.85
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and 51.00 52.00 1.00 114.00 830.00 133.76
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and 52.00 53.00 1.00 105.00 1220.00 134.05
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and 53.00 54.00 1.00 59.20 211.00 64.22
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and 54.00 55.00 1.00 43.10 35.00 43.93
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and 55.00 56.00 1.00 27.20 46.50 28.31
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and 56.00 57.00 1.00 38.30 308.00 45.63
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and 57.00 58.00 1.00 68.10 1100.00 94.29
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and 58.00 59.00 1.00 9.47 90.00 11.61
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(i) g/t = grams per metric tonne
(i) AuEq (gold equivalent) values calculated at a 42 to 1 (gold price vs.
silver price) ratio and metallurgical recoveries and net smelter returns
are assumed to be 100%
Below is a chart showing a number of high-grade gold and silver results
previously reported by Bayfield. The Company is also supplying links to a
cross section of these holes as well as a surface map showing all drill
collar locations.
Link to Burns Block High Grade Holes Cross Section:
http://www.bayfieldventures.com/i/maps/BYV_BBHGHXS.jpg
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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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RR10-15 190.00 199.00 9.00 12.88 39.26 13.58
194.00 197.00 3.00 31.71 50.23 32.61
195.00 196.00 1.00 48.10 52.30 49.03
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RR10-18 173.00 178.00 5.00 0.83 0.82 0.84
489.00 491.00 2.00 2.45 25.30 2.90
497.00 507.00 10.00 35.93 359.65 42.35
including 498.00 499.00 1.00 63.90 1760.00 95.33
and 499.00 500.00 1.00 109.00 96.10 110.72
and 503.00 504.00 1.00 90.30 881.00 106.03
542.00 563.00 21.00 1.24 42.77 2.00
including 545.00 546.00 1.00 15.60 719.00 28.44
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RR10-52 402.40 403.50 1.10 89.96
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RR11-1 509.50 510.20 0.70 21.60 21.00 22.07
550.75 561.70 10.95 1.71 78.36 3.45
including 559.90 561.70 1.80 5.70 282.11 11.97
617.85 627.00 9.15 8.37 40.57 9.27
including 623.90 626.10 2.20 33.13 208.18 37.76
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RR11-5 161.80 201.75 39.95 2.51 20.47 3.00
including 161.80 183.00 21.20 4.37 28.20 5.04
and 174.40 181.00 6.60 13.00 70.22 14.67
and 174.40 177.90 3.50 15.26 66.91 16.85
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RR11-14 275.50 332.40 56.90 0.62 13.77 1.00
including 275.50 290.70 15.20 1.50 42.46 2.68
including 275.50 278.50 3.00 6.75 211.07 12.61
including 325.25 328.30 3.05 2.14 7.67 2.35
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RR11-70 33.50 59.00 25.50 1.42 44.24 2.47
including 41.00 50.00 9.00 3.25 96.34 5.54
including 45.00 46.00 1.00 17.90 511.00 30.07
74.00 84.80 10.80 0.87 13.02 1.18
including 81.40 82.80 1.40 4.20 61.10 5.65
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RR11-71 38.00 63.50 25.50 26.70 170.69 30.77
including 46.00 61.00 15.00 45.24 281.03 51.93
and 47.80 59.00 11.20 60.05 362.96 68.69
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(i) g/t = grams per metric tonne
Updated Burns Block drilling exploration map: http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
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 1.5 metre intervals. The core samples were analyzed for gold by 30-gm fire assay with AA finish and by gravimetric methods from assays over 5,000 ppb (over limit). Screened total metallic assays are being performed on samples assaying over 5,000 ppb. The core samples were analyzed for silver by Ag Aqua Regia-ICP finish and Ag Fire Assay-Gravimetric from assays over 100 ppm (over limit). 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 approximately $8.5 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.
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
604-687-3119 (FAX)
info@bayfieldventures.com
www.bayfieldventures.com
Envoy Strategic Partners Investor Relations
Jay Bedard
416-977-7778
jay@envoystrategicpartners.com