Bayfield Ventures Corp. : Bayfield Expands Rainy River Exploration Program with Drilling Commencing on "C" & "B" Block Properties
(Thomson Reuters ONE) -
Suite 2230 - 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA
www.bayfieldventures.com
TSX-V Trading Symbol: BYV
Email:info(at)bayfieldventures.com
January 19, 2012
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company")
is pleased to announce an expanded exploration program on its projects in the
Rainy River District of north-western Ontario. Diamond drilling is now underway
on the Company's 100% owned, 1,976 acre "C" Block property situated to the west
of Rainy River Resources' (TSX: RR) multi-million ounce gold deposit.
Additionally, drilling on Bayfield's 100% owned, 1,185 acre "B" Block property
will commence immediately. Drilling has resumed after the holiday break on the
100% owned, 80 acre Burns Block flagship project which is situated adjacent to
the east and on strike to Rainy River Resources' main ODM17 gold zone.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
"C" Block Exploration:
Exploratory drilling of the "C" Block property is now underway. The property is
well positioned along the western extension of the Rainy River gold district.
The goal of this initial drilling is to establish the character of the bed rock
across the property since the vast majority of the property is covered by
glacial till deposits. The property is underexplored and constitutes significant
blue sky potential for Bayfield in the emerging Rainy River gold district.
"C" Block satellite map with conductors and drill hole location:
http://www.bayfieldventures.com/i/maps/C-Block-Satellite-Map-with-Conductors.jpg
Drill targeting is being guided by the compiled results of ground magnetic
surveys completed in 2007 and by the results of helicopter VTEM and magnetic
data flown for Bayfield in late 2010. These data compare favourably with
similar data collected at the Burns and "B" Block area and suggest that a
similar package of rock types is present in both areas. Ten planned holes will
complete a south to north transect across the property. Further work will be
contingent on the results of this first phase of drilling.
"C" Block total magnetic intensity map and drill hole location:
http://www.bayfieldventures.com/i/maps/C-Block-Total-Magnetic-Intensity-Map.jpg
"B" Block Exploration:
In 2008, Bayfield drilled 2 metres of 5.84 g/t gold in the south-central portion
of the "B" Block. This mineralization lies within 200 metres of the surface.
However, a small amount of follow-up drilling conducted by Bayfield in 2010 was
unsuccessful in extending this mineralized zone. Data from drilling completed on
our flagship Burns Block property in 2010 and 2011 has shown a strong tendency
for higher-grade gold and silver mineralization to be localized in predominantly
north-south trending structures within a pervasive lower-grade mineralized
envelope. The drilling completed at the "B" Block in 2010 was not directed at
north-south structures and was therefore insufficient in properly targeting the
know orientations of gold and silver zones. A series of east to west trending
holes has been planned to more efficiently explore for zones of gold and silver
mineralization given the geology and structures common in the district. This
drilling will commence by January 24(th).
Burns Block Exploration:
Bayfield has resumed the drilling on its flagship Burns Block Project and is
currently exploring the property to the east. To date, over 260 holes have been
completed on the Burns Block. The Company is consistently intercepting the
target sericite altered shear zone while closely watching for additional
mineralization in both the hanging wall and footwall of the main zone. Bayfield
is also drill testing the high magnetic/conductor anomaly identified by
geophysical work completed last December in the northeast quadrant of the Burns
Block. Results from this ongoing drilling are still pending.
Updated Burns Block drill hole location map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Nov_2011
.jpg
Bayfield has a remaining 30,000 metres of drilling in its 100,000 metre ongoing
program at its Rainy River properties with the bulk of this drilling to be
carried out on the Burns Block.
Qualified Person:
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 62.8 million shares outstanding and over $4 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-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
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: info(at)bayfieldventures.com
Other Contact:
Envoy Strategic Partners Investor Relations
Jay Bedard
Telephone: 416-977-7778
Email: jay(at)envoystrategicpartners.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.
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#1578832]
Unternehmensinformation / Kurzprofil:
Datum: 19.01.2012 - 16:32 Uhr
Sprache: Deutsch
News-ID 106009
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contact information:
Town:
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Kategorie:
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