Bayfield Reports 7.5m of 7.31 g/t Au, 107.95 g/t Ag and 7.9m of 4.8 g/t Au, 43.5 g/t Ag in Expanding Discovery Zone at Burns Block in Rainy River, Nw Ontario
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/28/12 -- Bayfield Ventures Corp. (TSX VENTURE: BYV) (OTCBB: BYVVF) (the "Company") is pleased to announce additional assays from the continuing early stage exploration of an expanding, significant zone of gold and silver mineralization in the eastern portion of the Burns Block. The Company's 100% owned Burns Block gold-silver project is located in the Rainy River District of north-western Ontario and is situated adjacent to the east and on strike to Rainy River Resources' (TSX: RR) multi-million ounce gold-silver deposit.
The new gold-silver zone is hosted within strongly sheared and altered dacite volcanic units located 600-700 metres to the east of Bayfield's high grade gold-silver zones and appears to be the easterly strike extension of the main ODM17 gold-silver zone which hosts Rainy River's deposit.
Rainy River District Gold Zones: http://www.bayfieldventures.com/i/pdf/RR-Gold-Zones.pdf
The assay results for holes RR12-6, RR12-7 and RR12-8 detailed in this news release continue to show that strong gold and silver mineralization is present over an expanding area, both up and down dip and along strike in the east-central Burns Block.
This developing new zone remains more gold dominant than the western Burns area however, local zones of very high grade silver mineralization are now being found along with multi-gram gold values. The appearance of these silver rich zones in the east is very reminiscent of our exploration experience in the early delineation stage of the western portion of the Burns Block.
Highlights:
-- Hole RR12-7 intercepted 10.5 metres of 5.28 g/t Au and 77.82 g/t Ag
including 7.5 metres of 7.31 g/t Au and 107.95 g/t Ag starting at 545
metres down hole.
-- Hole RR12-8 intercepted 11.0 metres of 3.8 g/t Au and 26.98 g/t Ag
including 7.9 metres of 4.77 g/t Au and 43.47 g/t Ag starting at 506
metres down hole.
-- Hole RR12-6 was drilled up dip of the strong mineralization previously
reported in hole RR12-5 and intercepted 7.0 metres of 0.60 g/t Au and
7.44 g/t Ag. See discussion of this lower grade intercept in the section
below.
-- Mineralization is being found within a 50 to 60 metre wide zone of
shearing, sericite-silica alteration and polymetallic base metal sulfide
and local electrum mineralization.
-- This east-central zone of mineralization is completely open down dip and
down the likely SSW plunge. The zone is also open onto Rainy River
Resources' land to the east.
-- A program of re-assaying higher grade silver zones at the Burns Block
using screen fire metallic methods is showing a clear trend of higher to
much higher silver assay values with the 500 gram pulp screen fire
metallic method vs. the previously reported 30 gram pulp gravimetric
silver assay method. This re-assay program is being expanded.
Eastern Burns Block Early-Stage Exploration/Delineation Discussion:
Bayfield is advancing the initial exploration and delineation of the east-central Burns Block with drill collar step outs ranging from 30 to 75 metres. This relatively wide spaced drilling is being done to test the conceptual model of a SSW plunging higher grade mineralized zone. The assay results to date, including those reported here, are confirming that the new east-central zone has a SSW plunging geometry very similar to that of Bayfield's western high grade mineralized zone on the Burns Block.
Updated Burns Block Drill Hole Location Map: http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Feb_2012.jpg
We are in the final stages of completing the up-plunge delineation with hole RR12-9 being completed and hole RR12-10 in progress from a common collar 60 metres north of hole RR12-8. Following completion of this work, the main down-plunge target area will be targeted for exploration. A highly prospective area of 200 metres down-plunge and approximately 200 metres in strike length remains completely undrilled. Much more exploration on 50 metre step-outs will be required to outline mineralization in the down-plunge target area. Infill drilling of the entire new mineralized zone will commence once the planned exploration drilling is completed.
Cross Section of 2012 Drill Holes Looking West at East Burns: http://www.bayfieldventures.com/i/maps/BurnsBlock-W.jpg
The drill results in the table below present the assay results from the latest completed holes RR12-6, 7 and 8. Four important points from these results are:
1. The success rate from drilling in the eastern area remains very high.
2. Gold and silver mineralization is showing a pattern of increasing to the
east and south, geometry consistent with a SSW plunging mineralized
zone.
3. Higher silver numbers are now being intercepted with hole RR12-7
returning 146.66 g/t Ag over 5.2 metres including 269.37 Ag over 1.9
metres within the main zone. These high grade silver numbers are very
encouraging as they are similar to those found in and around very high
grade zones of gold mineralization within the western portion of the
Burns Block.
4. The lower grade results from hole RR12-6 should be viewed in the context
of the initial exploration and delineation of a new mineralized zone.
Shear zone hosted ore bodies are known to contain locally erratic grade
distribution. This intercept is an anomaly within an area of
consistently higher grade gold and silver mineralization.
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Drill
Hole From (m) To (m) Interval (m) Au (g/t) Ag (g/t) AuEq (g/t) Location
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RR12-6 203.00 206.00 3.00 0.48 6.75 0.62
491.00 498.00 7.00 0.60 7.44 0.75 Northeast
including 494.00 495.50 1.50 0.94 12.00 1.18 Quadrant
503.00 504.50 1.50 0.30 3.40 0.37
515.00 519.50 4.50 0.34 12.77 0.60
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RR12-7 523.00 524.00 1.00 0.71 0.93 0.73
528.50 530.00 1.50 0.86 2.20 0.90
536.00 539.00 3.00 1.31 2.05 1.35
including 536.00 537.50 1.50 2.07 3.20 2.13
545.00 555.50 10.50 5.28 77.82 6.84 Northeast
including 545.00 552.50 7.50 7.31 107.95 9.47 Quadrant
including 547.30 552.50 5.20 9.99 146.66 12.92
including 547.30 549.20 1.90 11.98 269.37 17.37
563.00 564.00 1.00 0.95 23.70 1.42
567.00 573.50 6.50 0.89 6.01 1.01
including 570.50 573.50 3.00 1.61 2.22 1.65
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RR12-8 483.40 486.80 3.40 0.52 4.64 0.61
including 485.60 486.80 1.20 1.06 1.50 1.09
497.00 529.30 32.30 1.48 11.93 1.72
including 506.00 517.00 11.00 3.80 26.98 4.34 Northeast
including 509.10 517.00 7.90 4.77 43.47 5.64 Quadrant
including 509.10 511.00 1.90 6.47 39.60 7.26
including 514.60 517.00 2.40 7.75 52.05 8.79
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(i) g/t = grams per metric tonne
(i) The down hole interval lengths are estimated to be approximately 65%-95% of true width
(i) AuEq (gold equivalent) values calculated at a 50 to 1 (gold price vs. silver price) ratio and metallurgical recoveries and net smelter returns are assumed to be 100%
(i) The intervals were determined using a 0.35 g/t gold equivalent cut-off grade with a maximum gap of 3.0 metres between intervals below the cut-off grade
The mineralization at the eastern Burns area is very similar in character to that found by Bayfield in the western portion of the property where multi-ounce gold and silver material has been intercepted over significant widths. The gold-silver mineralization in the eastern area is focused within sheared and altered dacite volcanic wall rocks and is accompanied by abundant sphalerite, galena and arsenopyrite with local smears and crack fills of electrum.
Plan View of 2012 Drill Holes at East Burns: http://www.bayfieldventures.com/i/maps/BurnsBlock-WestHoles.jpg
It should also be noted that Bayfield has recently begun a program of re-assaying high grade silver zones previously reported in the western area by screen fire metallic methods using a 500 gram pulp. This much larger sample size is important when dealing with high grade gold or silver mineralization. Screen fire assay results from 30 selected samples shows a clear trend of higher to much higher silver assay values with the screen fire metallic method verse the previously reported standard gravimetric silver assay methods.
The initial results of this re-assay program appear to indicate that coarse grained native silver present in some mineralized intervals in the western Burns area was being sampled by the smaller pulp and the gravimetric assay method. The 500 gram pulp and screen fire metallic assay method are industry standard for mineralization that includes coarse grained native silver.
This re-assaying was initiated by Bayfield due to comparison of logged zones containing visible native silver with the assay results of those zones. Detailed discussions with our assayer, ACT Labs led to a decision to begin a program of re-assaying using the 500 gram pulp screen fire metallic method.
This program is now being expanded to include additional higher grade silver zones in the west and will done on all current higher grade silver zones in the east. A detailed report on the results of this work will be announced as soon as a significant amount of the re-assaying by screen fire metallic methods is completed.
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.
Robert Marvin, P.Geo., CPG, VP Exploration for Bayfield Ventures is the Qualified Person as defined by National Instrument 43-101 and supervised both the project field work and the preparation of the technical information in this release.
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold and silver in the Rainy River District of north-western Ontario. The Company has completed approx. 270 holes in its ongoing 100,000 metre drill program with drilling concentrated on the flagship Burns Block Project. The Company has 62.8 million shares outstanding.
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)
info@bayfieldventures.com
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