Bayfield's Rainy River East Step-Out Drilling Continues to Intercept Gold and Silver
(Thomson Reuters ONE) -
Suite 2230 - 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA
www.bayfieldventures.com
TSX-V Trading Symbol: BYV Telephone: (604) 687-3376
Email:info(at)bayfieldventures.com Facsimile: (604) 687-3119
NEWS RELEASE
April 14, 2011
Bayfield's Rainy River East Step-Out Drilling Continues to Intercept Gold and
Silver
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company")
is pleased to announce additional significant gold intercepts 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's February
2011 NI 43-101 resource calculation shows a drill indicated resource of 3.42
million ounces of gold, averaging 1.1 grams per tonne gold, in addition to an
inferred resource of 3.17 million ounces of gold, averaging 0.91 grams per tonne
gold.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
* Eastward extension drilling intercepts wide zones of strong gold and silver
mineralization
* Hole RR11-14 returns 6.75 g/t Au and 211.07 g/t Ag over 3.0m within 56.9m of
0.62 g/t Au and 13.77 g/t Ag
* High grade extension RR11-20 retuned 2.15 g/t gold and 156.5 g/t silver over
4.3m
* Holes RR11-06 to RR11-17 all intersect pervasive gold mineralization, most
of which were drilled in previously unexplored areas
* North drill fence holes RR11-18 to RR11-21 confirm up-plunge extension of
high grade zone; more delineation drilling planned
* Continue to significantly increase potential tonnage on Burns Block
* The gold-silver zone in RR11-14 is 60m step-out to east from known high
grade zone and most easterly hole drilled on central fence indicating
potential for discovering second high grade gold and silver zone
* Hole RR11-16 returns 0.50 g/t Au and 20.26 g/t Ag over 20.85m in a position
190m east of the SW corner of Burns property representing another
significant eastward expansion
* Assays pending for eleven more holes completed in March 2011
Discussion of High Grade Zone Exploration Results:
The assay results reported here include both the completion of delineation
drilling on the high grade zone between discovery holes RR10-15 and RR10-18, and
the first results from the early stage of north extension drilling of the zone
in the western portion of the Burns Block property.
North fence drill holes RR11-20 and RR11-21 have confirmed the up-plunge
extension of the high grade gold zone on the western portion of the property
with more delineation drilling planned to further define this northerly
extension of the zone. Local, cm-scale intervals containing visible gold were
noted during logging of the mineralized interval in holes RR11-20 and RR11-21.
Coarse gold and electrum occur as isolated blebs and in cross cutting fracture
fillings within a distinctive foliated and sericite altered dacite host rock.
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 completed infill and initial northern extension
drilling are summarized in the table below. Significant silver mineralization
occurs with the gold mineralization. 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 High Grade Extension Drilling:
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-20 | 72.25 |132.30| 60.05 | 0.47 | 25.48 | 1.18 |
| | | | | | | |
|including | 86.50 |90.55 | 4.05 | 0.70 | 21.01 | 1.28 |
| | | | | | | |
| and | 99.65 |108.80| 9.15 | 0.67 | 41.76 | 1.83 |
| | | | | | | |
| and | 114.90 |115.90| 1.00 | 0.91 | 36.60 | 1.93 |
| | | | | | | |
| and | 127.10 |132.30| 5.20 | 1.89 | 133.53 | 5.60 |
| | | | | | | |
|including | 127.10 |131.40| 4.30 | 2.15 | 156.50 | 6.50 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-21 | 109.80 |171.80| 62.00 | 0.45 | 7.60 | 0.66 |
| | | | | | | |
|including | 112.90 |119.00| 6.10 | 2.08 | 9.41 | 2.34 |
| | | | | | | |
|including | 117.95 |119.00| 1.05 | 7.97 | 19.24 | 8.50 |
| | | | | | | |
| and | 154.55 |155.60| 1.05 | 1.21 | 30.90 | 2.07 |
| | | | | | | |
| and | 168.80 |169.80| 1.00 | 1.87 | 70.30 | 3.82 |
+----------+--------+------+------------+--------+--------+----------+
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 36 to 1 (gold price vs. silver
price) ratio
Discussion of Eastward Step-Out Results:
Extension drilling eastward on the Burns Block property continues to define a
thick, well mineralized zone. The drilling completed in the last couple of
months has been quite successful in increasing the potential tonnage of gold-
silver mineralization that could be included in a larger open pit mining
operation. The most easterly hole drilled on the Burns Block is located 250
metres east of the southwest corner of the property (assays pending). No
drilling has been carried out beyond 250 metres representing roughly 550 metres
of strike length that is unexplored.
The eastward extension drilling has been carried out using approximately 50
metre step-outs. This spacing represents a reconnaissance style, first round
exploration effort. The completed drilling is confirming our exploration model
of the property. The ODM17-style gold mineralization has been intersected in
every hole to date as the Company continues to prove up the easterly
continuation of Rainy River Resources' main gold zone.
The most eastward hole drilled on the central fence, RR11-14, returned notable
gold and silver mineralization (see chart below) and was collared about 140
metres east of the western boundary and 135 metres north of the south boundary.
This represents a 60 metre step-out from the known high grade zone currently
being delineated near the western boundary of the property. A wide zone of
strong alteration and sulfide mineralization containing local, cm-scale
intervals with visible gold were noted during logging of the hole. Coarse gold
and electrum occur as fracture fillings and isolated blebs within a local
silicified zone within the foliated and sericite altered dacite host rock.
Accessory minerals include light brown sphalerite, fracture fills and blebs of
chalcopyrite and isolated crystals of arsenopyrite, as well as deformed pyrite
stringer veins.
South fence extension hole RR11-16 was collared 190 metres east of the southwest
corner of the Burns Block. This hole returned significant gold and silver
mineralization as summarized in the table below. The mineralization is hosted
within highly foliated and sericite altered dacite volcanic rocks. The
mineralized zone contains pyrite stringer veinlets as well as local sphalerite
and arsenopyrite disseminations and foliation parallel patches and veinlets.
Rare galena is also encountered locally.
The widely spaced drilling is being done to define the extension of the
mineralized zone and is providing the data necessary to plan more detailed
follow-up drilling that will focus on targeting high grade zones within the
mineralized envelope. In this regard, the strongly mineralized 3 metre gold and
silver interval in hole RR11-14 is very encouraging at this stage of the
eastward exploration and indicates a high potential for discovering and
delineating a second high grade gold-silver zone during more detailed infill
drilling.
Gold and Silver Assay Results from Central Fence Hole RR11-14:
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| 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 |
+----------+--------+------+------------+--------+--------+----------+
Gold and Silver Assay Results from South Fence Hole RR11-16:
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-16 | 558.40 |562.90| 4.50 | 1.11 | 3.07 | 1.20 |
| | | | | | | |
| and | 599.05 |619.90| 20.85 | 0.50 | 20.26 | 1.06 |
| | | | | | | |
|including | 616.80 |619.90| 3.10 | 1.18 | 74.41 | 3.25 |
| | | | | | | |
|including | 616.80 |618.90| 2.10 | 1.54 | 99.84 | 4.31 |
+----------+--------+------+------------+--------+--------+----------+
Summary Table of Significant Assays:
The table below displays all significant assays for all holes covered by the
news release.
+----------+--------+------+------------+--------+--------------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)| Ag (g/t) |AuEq (g/t)|
+----------+--------+------+------------+--------+--------------+----------+
| RR11-6 | 561.00 |609.70| 48.70 | 0.36 | | 0.36 |
| | | | | | | |
|including | 566.00 |576.20| 10.20 | 0.84 |Assays pending| 0.84 |
| | | | | | | |
|including | 566.00 |571.10| 5.10 | 0.99 | | 0.99 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-7 | 190.70 |210.40| 19.70 | 0.55 | | 0.55 |
| | | | | | | |
|including | 190.70 |191.35| 0.65 | 1.87 |Assays pending| 1.87 |
| | | | | | | |
|including | 205.30 |208.40| 3.10 | 1.05 | | 1.05 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-8 | 192.20 |218.80| 26.60 | 0.33 | | 0.33 |
| | | | | |Assays pending| |
|including | 196.20 |197.20| 1.00 | 1.16 | | 1.16 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-9 | 210.40 |211.40| 1.00 | 0.30 | 25.50 | 1.01 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-10 | 197.60 |232.80| 35.20 | 0.33 | 6.05 | 0.50 |
| | | | | | | |
|including | 223.10 |228.70| 5.60 | 0.63 | 6.64 | 0.81 |
| | | | | | | |
|including | 227.70 |228.70| 1.00 | 1.18 | 14.70 | 1.59 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-11 | 306.90 |308.00| 1.10 | 1.63 |Assays pending| 1.63 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-12 | 218.50 |222.60| 4.10 | 0.94 | | 0.94 |
| | | | | |Assays pending| |
|including | 219.60 |221.60| 2.00 | 1.45 | | 1.45 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-13 | 201.25 |239.90| 38.65 | 0.48 | 1.46 | 0.52 |
| | | | | | | |
|including | 220.55 |226.70| 6.15 | 1.00 | 4.42 | 1.12 |
| | | | | | | |
|including | 220.55 |221.60| 1.05 | 2.93 | 3.30 | 3.02 |
| | | | | | | |
| and | 225.70 |226.70| 1.00 | 2.08 | 13.30 | 2.45 |
+----------+--------+------+------------+--------+--------------+----------+
| 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 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-15 | 212.45 |215.50| 3.05 | 1.63 | 7.91 | 1.85 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-16 | 558.40 |619.90| 61.50 | 0.27 | 7.62 | 0.48 |
| | | | | | | |
|including | 558.40 |562.90| 4.50 | 1.11 | 3.07 | 1.20 |
| | | | | | | |
| and | 599.05 |619.90| 20.85 | 0.50 | 20.26 | 1.06 |
| | | | | | | |
|including | 616.80 |619.90| 3.10 | 1.18 | 74.41 | 3.25 |
| | | | | | | |
|including | 616.80 |618.90| 2.10 | 1.54 | 99.84 | 4.31 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-17 | 153.50 |161.70| 8.20 | 0.98 | 10.23 | 1.26 |
| | | | | | | |
|including | 159.60 |161.70| 2.10 | 1.60 | 23.85 | 2.26 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-18 | 75.30 |92.60 | 17.30 | 0.85 | 7.92 | 1.07 |
| | | | | | | |
|including | 76.30 |91.60 | 15.30 | 0.90 | 8.09 | 1.12 |
| | | | | | | |
|including | 76.30 |77.30 | 1.00 | 3.53 | 9.30 | 3.79 |
| | | | | | | |
| and | 89.50 |91.60 | 2.10 | 3.93 | 27.20 | 4.69 |
| | | | | | | |
|including | 89.50 |90.55 | 1.05 | 5.94 | 25.80 | 6.66 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-19 | 71.20 |89.50 | 18.30 | 0.49 | 15.41 | 0.92 |
| | | | | | | |
|including | 71.20 |85.50 | 14.30 | 0.54 | 14.78 | 0.95 |
| | | | | | | |
|including | 81.40 |83.40 | 2.00 | 2.03 | 68.45 | 3.93 |
| | | | | | | |
| | 104.70 |106.80| 2.10 | 0.59 | 6.50 | 0.77 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-20 | 72.25 |132.30| 60.05 | 0.47 | 25.48 | 1.18 |
| | | | | | | |
|including | 86.50 |90.55 | 4.05 | 0.70 | 21.01 | 1.28 |
| | | | | | | |
| and | 99.65 |108.80| 9.15 | 0.67 | 41.76 | 1.83 |
| | | | | | | |
| and | 114.90 |115.90| 1.00 | 0.91 | 36.60 | 1.93 |
| | | | | | | |
| and | 127.10 |132.30| 5.20 | 1.89 | 133.53 | 5.60 |
| | | | | | | |
|including | 127.10 |131.40| 4.30 | 2.15 | 156.50 | 6.50 |
+----------+--------+------+------------+--------+--------------+----------+
| RR11-21 | 109.80 |171.80| 62.00 | 0.45 | 7.60 | 0.66 |
| | | | | | | |
|including | 112.90 |119.00| 6.10 | 2.08 | 9.41 | 2.34 |
| | | | | | | |
|including | 117.95 |119.00| 1.05 | 7.97 | 19.24 | 8.50 |
| | | | | | | |
| and | 154.55 |155.60| 1.05 | 1.21 | 30.90 | 2.07 |
| | | | | | | |
| and | 168.80 |169.80| 1.00 | 1.87 | 70.30 | 3.82 |
+----------+--------+------+------------+--------+--------------+----------+
Current Exploration Summary:
Bayfield is still at an early stage of exploration on its Rainy River properties
with approximately 32,500 metres of drilling completed out of the planned
50,000+ metre drill program. The program is currently focused on two
complimentary exploration efforts including delineation of the high grade zone
in the west portion of the property as well as the eastward exploration towards
the central portion of the block. Assays are pending for eleven additional
completed holes (RR11-22 through RR11-33).
The eastward expansion drilling completed in the period from mid-February to
mid-March has been highly encouraging as it has significantly increased the
potential tonnage of gold-silver mineralization on the Burns Block. The results
from RR11-14 also indicate the potential for the discovery of a second high
grade shoot. Follow-up drilling in the area of RR11-14 will commence shortly.
Bayfield is continuing to explore the up-plunge extension of the high grade zone
towards the north boundary of the property. A series of infill holes are
currently being drilled along the northern exploration fence. The initial
results of this work will provide more details on the grade and character of
this very shallow portion of the developing resource. Once completed, the
results from these holes will be used to plan a second and even more northerly
fence of holes intended to chase the high grade gold and silver zone up towards
surface.
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.
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.
The Company has approximately 62 million shares outstanding and over $11 million
in its treasury.
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
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Datum: 15.04.2011 - 09:30 Uhr
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