Bayfield Drills 33.13 g/t Au and 208.18 g/t Ag over 2.2m Within 116.6m of 1.05 g/t Au and 13.34 g/t Ag in Rainy River, NW Ontario
VANCOUVER, BC -- (Marketwire) -- 02/16/11 --
Suite 2230 - 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA
TSX-V Trading Symbol: BYV
Email: info@bayfieldventures.com
Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the 'Company')
is pleased to announce an additional significant gold intercept 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
Resources'
March 2010 NI 43-101 compliant resource includes 2.37 million ounces of
gold at
1.3 g/t in the indicated category and an additional 2.66 million ounces of
gold
at 1.2 g/t in the inferred category.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
* Notable high grade gold intercept: 33.13 g/t gold over 2.2 metres, 21.6
g/t gold over 0.70 metres and 1.71 g/t gold over 10.95 metres all
within 116.60 metres of 1.05 g/t gold in drill hole RR11-1
* The gold zone in RR11-1 represents the down-plunge extension of the
high grade mineralization intercepted in previous holes RR10-18,
RR10-52 and RR10-15
* Significant silver mineralization accompanying gold mineralization in
RR11-1 including 208.18 g/t silver over 2.2 metres within 116.6 metres
of 13.34 g/t silver
* Gold intercepts reported on Bayfield's Burns Block continue to define
eastern extension of Rainy River Resource's main ODM17 gold zone
* Infill and up-plunge extension drilling of the high grade zone
continues with one rig
* Expansion drilling of the continuation of the ODM17 zone to the east on
the Burns Block continues with second rig
* Assays pending for nine more holes
Discussion of Results from Hole RR11-1:
Hole RR11-1 was collared near the southwest corner of the Burns
Block and
intersected high grade gold and silver mineralization in a position 80
metres
down-plunge of the previously announced high grade gold intercept in hole
RR10-
18. Hole RR11-1 was the first hole drilled by Bayfield in 2011 and is
part of
the Company's continued exploration and delineation of the high grade gold
chute
located on the western portion of the Burns Block.
Visible gold, electrum and native silver were noted during logging
of the
mineralized interval. Coarse gold and electrum occur as cross cutting
fracture
fillings within a distinctive foliated and sericite altered dacite host
rock.
Native silver (or silver rich electrum) occurs as mm-scale blebs,
smears or
dendritic clumps localized within the strong foliation. Accessory
minerals
include abundant dark brown sphalerite, blebs of chalcopyrite and
arsenopyrite
as well as deformed pyrite stringer veins and cross cutting galena
veinlets.
Significant assay results from RR11-1 are summarized in the table below.
Note
that silver mineralization occurs with the gold mineralization and
that the
silver content of the mineralization has an important impact on the grade
of the
mineralized zones when combined and expressed as gold equivalent values or
AuEq
(far right column of the table).
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 RR11-1:
--------- -------- ------ ------------ -------- -------- ----------
| HOLE |FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
--------- -------- ------ ------------ -------- -------- ----------
| RR11-1 | 509.50 |626.10| 116.60 | 1.05 | 13.34 | 1.35 |
--------- -------- ------ ------------ -------- -------- ----------
|including| 509.50 |510.20| 0.70 | 21.60 | 21.00 | 22.07 |
--------- -------- ------ ------------ -------- -------- ----------
| and | 550.75 |561.70| 10.95 | 1.71 | 78.36 | 3.45 |
--------- -------- ------ ------------ -------- -------- ----------
| and | 623.90 |626.10| 2.20 | 33.13 | 208.18 | 37.76 |
--------- -------- ------ ------------ -------- -------- ----------
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 45 to 1 (gold price vs.
silver
price) ratio
Current Exploration Summary:
Bayfield is still at an early stage of exploration on its Rainy River
properties
with approximately 28,000 metres of drilling completed out of the
planned
50,000 metre drill program. Assays are pending for nine more holes
(RR11-2
through RR11-10).
The Company is currently using two diamond drill rigs to carry
out the
exploration of the eastern extension of Rainy River Resource's main ODM17
gold
zone onto the Burns Block. One of the rigs is currently defining the high
grade
gold chute near the western border of the Burns property by delineating
the up-
plunge extension of the high grade gold mineralization. The second
rig is
conducting the initial exploration of the foliated, sericite
altered and
mineralized dacite volcanic host rock to the east further into the Burns
Block.
The most easterly hole drilled in this program on the Burns Block is 150
metres
from the western boundary, leaving 650 metres of strike length yet to be
drilled
to the east.
Jim Pettit, CEO of Bayfield Ventures, stated: 'Hole RR11-1 is a very
encouraging
start to the year as it has intersected the down-plunge high grade
extension
from holes RR10-18, 15 and 52. The delineation of this high grade
chute is
ongoing on the Burns Block as well as the continued easterly step-out
drilling.
With 650 metres of unexplored strike length on the property, the
Company is
excited with the potential for new gold and silver discoveries over to the
east.
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 53 million
shares
outstanding and over $7 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.
Smartstox recently wrote a report on
Bayfield:
http://www.smartstox.com/reports/byv/.
For further information on Bayfield Ventures Corp. (TSX-V: BYV),
visit the
Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
'Jim Pettit'
_______________________________
James G. Pettit
Chairman and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Bayfield Ventures Corp. via Thomson Reuters ONE
[HUG#1489822]
For further information contact myself or:
Don Myers
Director
Bayfield Ventures Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: Email Contact
Other Contact:
Envoy Strategic Partners Investor Relations
Jay Bedard
Telephone: 416-977-7778
Email: Email Contact