Bayfield Reports Silver Results from Further Assaying 2010 Drilling in Rainy River, NW Ontario
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/20/11 -- Bayfield Ventures Corp. (TSX VENTURE: BYV) (FRANKFURT: B4N) (the 'Company') is pleased to announce silver results from further assaying 2010 drilling 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' multi-million ounce gold and silver deposit. Rainy River's February 2011 NI 43-101 resource calculation shows a drill indicated resource of 3.42 million ounces of gold, averaging 1.1 g/t gold, in addition to an inferred resource of 3.17 million ounces of gold, averaging 0.91 g/t gold. It also contains a drill indicated resource of 6.61 million ounces of silver, averaging 2.19 g/t silver, in addition to an inferred resource of 8.10 million ounces of silver, averaging 2.32 g/t silver.
Rainy River gold properties claims map: http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
-- Silver mineralization at the Burns property has an important impact on
the total metal value of mineralized zones discovered by Bayfield to
date
-- Impact can be seen by comparing gold grade with gold equivalent grade
-- Silver mineralization at Burns could be very important in eventual
assessment of economic viability
-- Hole RR10-10 returned 358 g/t silver over 3 metres which adds 10.52 g/t
gold equivalent value
-- Hole RR10-11 returned 303 g/t silver over 1 metre which adds 8.91 g/t
gold equivalent value
-- Previously reported hole RR10-18 returned 360 g/t silver over 10 metres
which adds 10.58 g/t gold equivalent in addition to gold assays of 36
g/t
-- Silver assays for holes RR10-37 to RR10-54 are pending
Completion of Silver Assays from 2010 Drilling at Burns Block:
The chart below summarizes another major batch of silver assays from the 2010 drilling at the Burns Block. These assays are from holes RR10-08 to RR10-36. The silver assays from holes RR10-37 to RR10-54 are pending and represent the last of the catch-up silver assays from last year. Bayfield is now running silver assays on all samples submitted for gold assay.
The coexistence of gold and silver at the Burns property has an important impact on the total metal value of the mineralized zones at the project. This impact can be seen by comparing the gold grade with the gold equivalent grade of the intervals in the table and by simply reviewing the listed silver assays.
Updated Burns Block drilling exploration map: http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
The gold numbers in the chart have all been previously reported. Significant silver mineralization at the Burns Block occurs solely within zones of gold mineralization. This fact strongly suggests that the main stage gold mineralization event in the district was in fact a gold-silver event.
Remaining Silver Assay Results from Holes RR10-08 to RR10-36:
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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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RR10-8 426.00 427.00 1.00 1.42 59.40 3.17
462.00 467.00 5.00 4.19 23.38 4.88
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RR10-9 466.00 469.00 3.00 1.03 120.23 4.57
479.00 481.00 2.00 9.93 219.05 16.37
542.00 543.00 1.00 2.00 33.70 2.99
561.00 567.00 6.00 1.19 7.38 1.41
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RR10-10 422.00 425.00 3.00 8.17 357.83 18.69
including 422.00 424.00 2.00 11.31 522.25 26.67
including 423.00 424.00 1.00 17.18 885.50 43.22
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RR10-11 521.00 527.00 6.00 1.50 21.80 2.14
including 526.00 527.00 1.00 5.24 15.70 5.70
586.00 588.00 2.00 4.13 187.10 9.63
including 587.00 588.00 1.00 6.96 303.00 15.87
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RR10-12 192.00 193.00 1.00 0.57 46.40 1.93
207.00 209.00 2.00 2.47 143.00 6.68
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RR10-20 62.00 63.00 1.00 0.52 85.60 3.04
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RR10-22 85.00 86.00 1.00 0.85 94.60 3.63
106.00 109.00 3.00 0.76 47.17 2.15
115.00 116.00 1.00 1.07 14.60 1.50
133.00 135.00 2.00 7.54 6.65 7.74
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RR10-23 84.00 85.00 1.00 5.26 55.70 6.90
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RR10-24 85.00 87.00 2.00 0.71 36.80 1.79
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RR10-25 71.00 72.00 1.00 3.94 131.00 7.79
106.00 116.00 10.00 1.40 63.15 3.26
including 106.00 107.00 1.00 2.78 95.40 5.59
including 110.00 112.00 2.00 2.97 200.55 8.87
and 111.00 112.00 1.00 4.84 317.00 14.16
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RR10-27 96.00 97.00 1.00 3.71 276.00 11.83
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RR10-28 116.00 118.00 2.00 1.42 110.90 4.68
including 117.00 118.00 1.00 2.52 192.00 8.17
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RR10-30 158.00 159.00 1.00 0.83 30.70 1.73
165.00 166.00 1.00 2.32 30.20 3.21
173.00 175.00 2.00 2.00 12.05 2.35
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RR10-31 97.00 99.00 2.00 1.25 20.60 1.86
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RR10-32 161.00 170.00 9.00 2.61 44.15 3.91
including 163.00 165.00 2.00 3.35 101.05 6.32
including 169.00 170.00 1.00 10.60 82.20 13.02
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RR10-33 147.00 166.00 19.00 1.16 11.42 1.50
including 147.00 152.00 5.00 3.07 21.47 3.70
and 148.00 149.00 1.00 9.83 47.00 11.21
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RR10--34 133.00 134.00 1.00 0.75 44.60 2.06
171.00 172.00 1.00 1.31 14.80 1.75
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RR11-35 135.00 137.00 2.00 1.05 30.90 1.96
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RR11-36 111.00 115.00 4.00 1.24 47.68 2.64
including 111.00 113.00 2.00 1.28 58.10 2.99
including 114.00 115.00 1.00 1.64 55.50 3.27
119.00 121.00 2.00 0.96 19.95 1.55
147.00 149.00 2.00 1.28 51.60 2.80
including 147.00 148.00 1.00 1.59 76.30 3.83
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(i) g/t = grams per metric tonne
(i) AuEq (g/t) values calculated at the current 34 to 1 (gold price vs.
silver price) ratio
Previously Reported Silver Assays from Holes RR10-15 and RR10-18:
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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 14.03
including 190.00 197.00 7.00 16.17 48.77 17.60
including 194.00 197.00 3.00 31.71 50.23 33.19
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RR10-18 497.00 507.00 10.00 35.93 359.65 46.51
including 498.00 499.00 1.00 63.90 1760.00 115.66
511.00 514.00 3.00 1.17 74.10 3.35
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(i) g/t = grams per metric tonne
(i) AuEq (g/t) values calculated at the current 34 to 1 (gold price vs.
silver price) ratio
Silver mineralization occurs in at least two forms at the Burns Block. Based on detailed core logging observations, it is known that silver occurs both combined with gold as the alloy electrum and as native silver. It should be noted, however, that these determinations have been made based on the color of the visible veinlets, blebs and smears of native metals. It is likely that what we are identifying as native silver also contains at least some alloyed gold.
The majority of high grade gold-silver zones at the Burns property also contain galena mineralization. It is likely that the galena contains appreciable silver, as is common in many poly metallic districts worldwide.
Bayfield plans to conduct a formal thin section study of the character of the high grade mineralization at the Burns Block in the near future as a first step toward understanding the mineralogical details of the mineralized zones.
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 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 62 million shares outstanding and over $11 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