Bayfield Drills 7.60m of 5.70 g/t Au and 24.27 g/t Ag within 22.35m of 2.38 g/t Au and 16.42 g/t Ag in Rainy River, NW Ontario
(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
May 12, 2011
Bayfield Drills 7.60m of 5.70 g/t Au and 24.27 g/t Ag within 22.35m of
2.38 g/t Au and 16.42 g/t Ag in Rainy River, NW Ontario
Vancouver, BC - 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'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. The deposit
has a 0.35 g/t Au cut-off for open pit mineralization.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
* Notable gold and silver intercept: 5.7 g/t Ag and 24.27 g/t Ag over 7.6m
within 79.25m of 0.85 g/t Au and 7.62 g/t Ag in drill hole RR11-32
* A separate intercept of 1.48 g/t Au and 3.16 g/t Ag over 4.6m found 50
metres below the main zone in RR11-32
* Hole RR11-32 is part of the current infill program on the north exploration
fence at Burns
* Infill drilling continues to define multi-gram grades at depths less than
150 metres from surface
* Exploration on a more northerly exploration fence is being initiated based
on the current drill results with the goal of continuing to define
mineralization in a shallow, up-dip position on the Burns Block
* Follow-up drilling both east and west of new discovery hole RR11-14 is
continuing
* Expansion drilling of the continuation of the ODM17 zone to the east on the
Burns Block will continue with the newly arrived third rig
* Assays pending for eleven more holes
Discussion of Results from Hole RR11-32:
Hole RR11-32 was collared on the north exploration fence, 50 metres east of the
west boundary of the Burns Block 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.
Blebs and fractures fillings of electrum were noted during logging of the
mineralized interval which commenced at 124.05 metres down hole. 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 RR11-32 and all other completed assays
are summarized in the table below.
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 Hole RR11-32:
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-32 | 117.95 |197.20| 79.25 | 0.85 | 7.62 | 1.03 |
| | | | | | | |
|including | 124.05 |146.40| 22.35 | 2.38 | 16.42 | 2.77 |
| | | | | | | |
|including | 138.80 |146.40| 7.60 | 5.70 | 24.27 | 6.28 |
| | | | | | | |
|including | 138.80 |143.40| 4.60 | 7.64 | 29.52 | 8.34 |
| | | | | | | |
| and | 191.10 |195.70| 4.60 | 1.48 | 3.16 | 1.56 |
| | | | | | | |
| | 431.90 |438.00| 6.10 | 0.31 | 5.30 | 0.44 |
+----------+--------+------+------------+--------+--------+----------+
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 42 to 1 (gold price vs. silver
price) ratio and metallurgical recoveries and net smelter returns are assumed to
be 100%
Gold and Silver Assay Results from Other Holes (RR11-22 to RR11-33):
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-22 | 281.00 |284.05| 3.05 | 0.45 | 0.20 | 0.45 |
| | | | | | | |
| | 306.95 |310.00| 3.05 | 0.13 | 10.87 | 0.39 |
| | | | | | | |
| | 335.85 |340.45| 4.60 | 0.36 | 1.23 | 0.39 |
| | | | | | | |
| | 370.95 |375.00| 4.05 | 0.22 | 1.52 | 0.26 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-23 | 341.50 |367.90| 26.40 | 0.54 | 21.54 | 1.05 |
| | | | | | | |
|including | 347.60 |366.90| 19.30 | 0.61 | 22.72 | 1.15 |
| | | | | | | |
|including | 348.60 |350.60| 2.00 | 2.96 | 125.10 | 5.94 |
| | | | | | | |
|including | 349.60 |350.60| 1.00 | 4.70 | 173.00 | 8.82 |
| | | | | | | |
| and | 365.90 |366.90| 1.00 | 1.26 | 14.30 | 1.60 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-24 | 352.65 |400.40| 47.75 | 0.22 | 4.20 | 0.32 |
| | | | | | | |
|including | 367.90 |400.40| 32.50 | 0.27 | 4.14 | 0.37 |
| | | | | | | |
|including | 367.90 |372.50| 4.60 | 0.42 | 7.48 | 0.60 |
| | | | | | | |
| and | 399.40 |400.40| 1.00 | 3.08 | 3.00 | 3.15 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-25 | 335.90 |340.45| 4.55 | 0.37 | 2.09 | 0.42 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-26 | 219.60 |227.70| 8.10 | 0.69 | 21.81 | 1.21 |
| | | | | | | |
|including | 219.60 |223.60| 4.00 | 0.94 | 37.90 | 1.84 |
| | | | | | | |
|including | 221.60 |223.60| 2.00 | 1.23 | 17.58 | 1.65 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-27 | 264.25 |267.30| 3.05 | 0.46 | 3.86 | 0.55 |
| | | | | | | |
|including | 265.80 |267.30| 1.50 | 0.63 | 3.60 | 0.72 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-28 |No Significant Values |
+----------+--------+------+------------+--------+--------+----------+
| RR11-29 | 61.60 |116.40| 54.80 | 0.44 | 9.46 | 0.67 |
| | | | | | | |
|including | 76.30 |98.60 | 22.30 | 0.74 | 17.26 | 1.15 |
| | | | | | | |
|including | 84.45 |98.60 | 14.15 | 0.83 | 14.86 | 1.18 |
| | | | | | | |
|including | 97.60 |98.60 | 1.00 | 3.80 | 35.40 | 4.64 |
| | | | | | | |
| and | 102.70 |103.70| 1.00 | 1.42 | 8.10 | 1.61 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-30 | 71.20 |122.50| 51.30 | 0.39 | 10.20 | 0.63 |
| | | | | | | |
|including | 74.30 |75.30 | 1.00 | 1.01 | 13.90 | 1.34 |
| | | | | | | |
| and | 94.60 |100.00| 5.40 | 1.63 | 64.15 | 3.16 |
| | | | | | | |
|including | 94.60 |97.60 | 3.00 | 2.44 | 64.97 | 3.99 |
| | | | | | | |
| and | 121.00 |122.50| 1.50 | 0.62 | 11.80 | 0.90 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-31 | 89.50 |142.35| 52.85 | 0.30 | 6.30 | 0.45 |
| | | | | | | |
|including | 89.50 |127.10| 37.60 | 0.35 | 7.63 | 0.53 |
| | | | | | | |
|including | 109.80 |110.80| 1.00 | 1.03 | 13.03 | 1.34 |
| | | | | | | |
| and | 126.70 |127.70| 1.00 | 1.87 | 26.10 | 2.49 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-33 | 63.10 |111.85| 48.75 | 0.39 | 9.53 | 0.62 |
| | | | | | | |
|including | 91.60 |96.60 | 5.00 | 1.08 | 11.88 | 1.36 |
| | | | | | | |
|including | 103.70 |111.85| 8.15 | 0.69 | 20.02 | 1.17 |
+----------+--------+------+------------+--------+--------+----------+
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 42 to 1 (gold price vs. silver
price) ratio and metallurgical recoveries and net smelter returns are assumed to
be 100%
Current Exploration Summary:
Bayfield is continuing to define near surface gold and silver mineralization at
the Burns Block. To date, approximately 37,000 metres of drilling have been
completed out of the newly expanded 100,000 metre drill program. Assays are
pending for eleven more holes (RR11-34 through RR11-44).
The Company is currently using two diamond drills to carry out the exploration
and expansion of the eastern extension of Rainy River Resource's main ODM17 gold
zone onto the Burns Block. A brand new third drill has arrived at the site and
is being readied for drilling which will commence shortly.
One of the drills is currently completing infill drilling along the north
exploration fence and will move to the new more northerly exploration fence in a
matter of a few days. The far north fence will enable Bayfield to continue the
up-dip expansion of the main gold zone into the near surface environment.
Additionally, the far north drill fence will be used to conduct the first
focused exploration of two deeper zones of gold mineralization that have been
identified on the Burns Block yet only limited drilling has tested them
(informally named the second and third zones). It is likely that one or both of
these deeper gold zones represent the down dip continuation of Rainy Rivers'
433 Zone. Bayfield has intersected robust gold mineralization in these deeper
zones in widely spaced holes announced previously and is now ready for a more
detailed exploration effort on these important targets.
A second drill is conducting follow-up exploration around the higher grade gold
and silver discovery in hole RR11-14 on the central fence. The previously
announced results from RR11-14 indicate the potential for the discovery of a
second high grade chute on the Burns Block with more drilling underway to test
this. The hole represents a 60 metre step-out from the known high grade zone
currently being delineated near the western boundary of the property. This
mineralization occurs in the foliated and sericite altered and dacite volcanic
hosted main zone on the Burns Block.
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 62 million shares outstanding and over $10 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.
For drilling updates, follow Bayfield on Facebook:
http://www.facebook.com/group.php?gid=56518514278&ref=mf#!/group.php?gid=5651851
4278&v=wall.
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#1514878]
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Datum: 12.05.2011 - 09:02 Uhr
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News-ID 54581
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contact information:
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"Bayfield Drills 7.60m of 5.70 g/t Au and 24.27 g/t Ag within 22.35m of 2.38 g/t Au and 16.42 g/t Ag in Rainy River, NW Ontario"
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