Bayfield Drills 20.35 metres of 2.27 g/t Au and 7.76 g/t Ag at 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
Email: info(at)bayfieldventures.com
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
June 3, 2011
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 gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
* North fence drilling continues to intersect shallow, well mineralized
intervals including 20.35 metres of 2.27 g/t Au and 7.76 g/t Ag within
77.25 metres of 0.81 g/t Au and 4.83 g/t Ag in hole RR11-36
* A 30 metre step out from hole RR11-14 on the central drill fence intercepts
strong gold and silver mineralization including 12.0 metres of 1.56 g/t Au
and 34.69 g/t Ag (2.43 g/t Au equivalent over 12.0 metres) in hole RR11-41
* A second gold and silver mineralized zone intersected in hole RR11-36 from
425.8 metres to 434.95 metres down hole is believed to be the down dip
extension of Rainy River's 433 Zone
* Assays pending for eighteen additional holes
Discussion of Results for Holes RR11-34 to RR11-42:
Infill drilling of the central and north exploration fences continues to
intersect notable gold and silver mineralization at the Burns Block. The assays
summarized in the table below are the results received to date from this work
along with a single hole from the eastward extension on the south exploration
fence (RR11-38).
All holes completed during the infill drilling intersected the highly foliated
and sericite altered zone which hosts the vast majority of known gold and silver
mineralization at the Burns Block. Gold and silver values within the zone are
highly erratic on the scale of individual samples but, when viewed as wider
intervals across the entire zone, show much more continuity.
An excellent example of this characteristic is found in the assay results from a
common collar three hole fan on the north fence (holes RR11-34, 35 and 36).
Detailed examination of the listed metre-scale intervals shows huge variability
in both gold and silver content. However, when the gold equivalent values (AuEq)
of the largest listed intervals for each of the holes are compared, the
variability is much lower. This data strongly suggests that the combined gold
and silver mineralization within the foliated and altered zone has decent
continuity and implies that open pit mining of the entire zone could potentially
be modeled.
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 Central and North Fence Infill Drilling:
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-34 | 87.50 |114.90| 27.40 | 0.51 | 23.46 | 1.09 |
| | | | | | | |
|including | 92.60 |108.80| 16.20 | 0.65 | 29.25 | 1.39 |
| | | | | | | |
|including | 92.60 |93.60 | 1.00 | 2.49 | 198.00 | 7.44 |
| | | | | | | |
| and | 106.80 |108.80| 2.00 | 2.51 | 66.60 | 4.18 |
| | | | | | | |
| | 123.00 |125.10| 2.10 | 0.41 | 22.50 | 0.98 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-35 | 111.85 |156.10| 44.25 | 0.46 | 5.87 | 0.61 |
| | | | | | | |
|including | 111.85 |121.00| 9.15 | 1.21 | 10.80 | 1.48 |
| | | | | | | |
|including | 111.85 |112.90| 1.05 | 4.11 | 36.00 | 5.01 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-36 | 135.20 |212.45| 77.25 | 0.81 | 4.83 | 0.93 |
| | | | | | | |
|including | 140.30 |160.65| 20.35 | 2.27 | 7.76 | 2.46 |
| | | | | | | |
|including | 141.30 |145.40| 4.10 | 3.30 | 17.19 | 3.73 |
| | | | | | | |
|including | 143.40 |145.40| 2.00 | 5.75 | 11.55 | 6.04 |
| | | | | | | |
|including | 159.10 |160.65| 1.55 | 18.90 | 12.70 | 19.22 |
| | | | | | | |
| | 425.80 |434.95| 9.15 | 0.51 | 6.09 | 0.66 |
| | | | | | | |
|including | 425.80 |427.30| 1.50 | 1.46 | 4.00 | 1.56 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-37 | 136.25 |139.30| 3.05 | 0.33 | 30.61 | 1.10 |
| | | | | | | |
| | 181.95 |194.15| 12.20 | 0.53 | 4.98 | 0.65 |
| | | | | | | |
|including | 189.55 |191.10| 1.55 | 1.31 | 7.40 | 1.49 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-38 | 287.40 |288.80| 1.40 | 0.86 | 1.00 | 0.88 |
| | | | | | | |
| | 356.00 |359.00| 3.00 | 0.28 | 6.55 | 0.44 |
| | | | | | | |
| | 390.50 |402.50| 12.00 | 0.21 | 3.89 | 0.30 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-39 | 118.05 |162.15| 44.10 | 0.30 | 5.62 | 0.44 |
| | | | | | | |
|including | 118.05 |124.05| 6.00 | 0.99 | 10.25 | 1.24 |
| | | | | | | |
|including | 118.05 |121.05| 3.00 | 1.47 | 48.90 | 2.69 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-40 | 219.50 |222.50| 3.00 | 0.12 | 21.30 | 0.66 |
| | | | | | | |
| | 243.50 |246.50| 3.00 | 0.82 | 25.15 | 1.45 |
| | | | | | | |
| | 368.00 |381.50| 13.50 | 0.87 | 5.68 | 1.02 |
| | | | | | | |
|including | 377.00 |378.50| 1.50 | 2.56 | 4.40 | 2.67 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-41 | 14.50 |17.50 | 3.00 | 0.56 | 1.00 | 0.59 |
| | | | | | | |
| | 210.00 |222.00| 12.00 | 1.56 | 34.69 | 2.43 |
| | | | | | | |
|including | 212.70 |218.80| 6.10 | 2.43 | 61.66 | 3.97 |
| | | | | | | |
|including | 216.10 |218.80| 2.70 | 4.09 | 107.29 | 6.77 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-42 | 82.90 |119.50| 36.60 | 0.22 | 11.07 | 0.50 |
| | | | | | | |
|including | 93.60 |108.85| 15.25 | 0.32 | 14.30 | 0.68 |
| | | | | | | |
|including | 105.80 |107.30| 1.50 | 1.27 | 61.80 | 2.82 |
+----------+--------+------+------------+--------+--------+----------+
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 40 to 1 (gold price vs. silver
price) ratio and metallurgical recoveries and net smelter returns are assumed to
be 100%
Bayfield continues to intersect highly anomalous gold and silver mineralization
within the interpreted down dip extension of Rainy River's 433 Zone. Drill hole
RR11-36 intersected 9.15 metres of 0.51 g/t gold and 6.09 g/t silver from 425.8
metres to 434.95 metres down hole. While not high grade, these results clearly
indicate the potential for the discovery of higher grades within this
underexplored mineralized zone at the Burns Block. Future drilling will further
explore this secondary deeper zone.
Current Exploration Summary:
Bayfield is continuing its aggressive exploration and delineation of mineralized
zones on the Burns Block. Three hydrostat core rigs are currently in operation.
The program is focused on two complimentary exploration efforts, infill drilling
in the west portion of the block and eastward exploration towards the central
portion of the block. Assays are pending for eighteen additionally completed
holes (RR11-43 through RR11-60).
Drilling has commenced this week on the Far North Exploration Fence at the Burns
project. This fence is located 60 metres north of the North Fence and is
designed to explore the main mineralized zone up into the near surface
environment. Furthermore, this fence will be used to explore for gold and silver
mineralization in the down dip extension of Rainy River Resources' prolific 433
Zone.
Initial plans for commencing drill exploration of Bayfield's 100% owned large
and highly prospective "C" Block property are underway. It is anticipated that a
fourth drill will be brought in to do this first round drill test of the eastern
portion of the "C" 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.
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 61 million shares outstanding and over $9 million
in its treasury.
On February 15(th), 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#1521028]
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Datum: 03.06.2011 - 10:01 Uhr
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News-ID 55271
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