Bayfield Announces a Major Gold and Silver Intercept
(Thomson Reuters ONE) -
TSX-V Trading Symbol: BYV
Email: info(at)bayfieldventures.com
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
June 27, 2011Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N)
(the "Company") is pleased to announce a major gold and silver 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 gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
* Initial results from Far North Fence Drilling include 79.50m of 8.66 g/t Au
and 57.67 g/t Ag (starting at a down hole depth of 15.5m) including a
bonanza grade zone of 11.20m of 60.05 g/t Au and 362.96 g/t Ag in hole RR11-
71 (see chart below).
* This new bonanza grade intercept in hole RR11-71 falls within the up-plunge
projection of the modeled mineralized shoot. The total linear plunge
distance between the bonanza grade zones in holes RR10-18 and RR11-71 is
approximately 600m.
* The new drill fence, known as the Far North Fence, is an east-west
exploratory fence that has been established in a position 60m north of the
existing North Fence. The purpose of the new fence is to test the near
surface portion of the mineralized zone that has only partially been
delineated on the Burns Block to date.
* The second Far North Fence drill hole returned 43.8m of 1.02 g/t Au and
28.15 g/t Ag including 9.0m of 3.25 g/t Au and 96.34 g/t Ag in hole RR11-70.
* Additional drilling to the west and east along the new Far North Fence is
progressing rapidly while the other two drill rigs continue to expand the
South, Central and North Fences.
* Assays are pending for fifteen additional holes.
Discussion of Results from Hole RR11-71:
The Far North Fence has been planned for several months and represents an
aggressive drill exploration program focused in the near surface, up-dip portion
of the partially delineated gold-silver mineralized zone at the Burns Block. The
position of the high grade gold and silver zones discovered by Bayfield last
year in holes RR10-15 and RR10-18 strongly suggested that the rich
mineralization was confined to a SSW plunging shoot of very similar geometry to
other high grade zones roughly outlined by Rainy River Resources to the west of
the Burns Block. Previously released hole RR10-18 intersected 35.93 g/t Au and
359.65 g/t Ag over 10.0 metres while hole RR10-15 intersected 12.88 g/t Au and
39.26 g/t Ag over 9.0 metres.
The new bonanza grade intercept in hole RR11-71 falls within the up-plunge
projection of the modeled mineralized gold-silver shoot on the western portion
of the property thereby expanding the known high grade zone to the northeast.
The total linear plunge distance between the bonanza grade zones in RR10-18 and
RR11-71 is approximately 600 metres. The continuity of mineralization within
this shoot has been difficult to establish but continued success strongly
supports the presence of a discrete structural zone which hosts significant high
grade gold-silver mineralization in a SSW-NNE orientation.
Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
The new high grade intercept in hole RR11-71 lies within a broad halo of sub-
gram level to multi-gram level gold and silver mineralization that is contained
within the well-established west-east trending zone of strong foliation,
sericite alteration, locally intense deformation and highly variable pyrite
mineralization. This pattern of high grade zones lying within lower grade
mineralized halos has been seen at the Burns Block many times during the
continuing exploration and delineation drill program.
Gold and silver assays from the wide mineralized interval in hole RR11-71 are
presented in summary form in the table below. The true width of the zone in
RR11-71 is estimated to be approximately 70%-80% of the listed down hole
interval lengths.
Gold and Silver Assay Results from Far North Fence Hole RR11-71:
+----------+--------+------+------------+--------+--------+----------+
|Drill Hole|From (m)|To (m)|Interval (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-71 | 15.50 |95.00 | 79.50 | 8.66 | 57.67 | 10.03 |
| | | | | | | |
|including | 38.00 |90.60 | 52.60 | 13.07 | 85.70 | 15.11 |
| | | | | | | |
|including | 46.00 |61.00 | 15.00 | 45.24 | 281.03 | 51.93 |
| | | | | | | |
|including | 47.80 |59.00 | 11.20 | 60.05 | 362.96 | 68.69 |
+----------+--------+------+------------+--------+--------+----------+
Individual Gold and Silver Assay Results from the High Grade Core in RR11-71:
The table below displays the consecutive individual samples which together
comprise the 11.2 metre core section of the high grade mineralized zone in hole
RR11-71.
+----------+--------+------+------------+--------+--------+----------+
|Drill Hole|From (m)|To (m)|Interval (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR11-71 | 47.80 |48.60 | 0.80 | 224.00 | 86.90 | 226.07 |
+----------+--------+------+------------+--------+--------+----------+
| and | 48.60 |50.00 | 1.40 | 6.49 | 52.20 | 7.73 |
+----------+--------+------+------------+--------+--------+----------+
| and | 50.00 |51.00 | 1.00 | 19.90 | 82.10 | 21.85 |
+----------+--------+------+------------+--------+--------+----------+
| and | 51.00 |52.00 | 1.00 | 114.00 | 830.00 | 133.76 |
+----------+--------+------+------------+--------+--------+----------+
| and | 52.00 |53.00 | 1.00 | 105.00 |1220.00 | 134.05 |
+----------+--------+------+------------+--------+--------+----------+
| and | 53.00 |54.00 | 1.00 | 59.20 | 211.00 | 64.22 |
+----------+--------+------+------------+--------+--------+----------+
| and | 54.00 |55.00 | 1.00 | 43.10 | 35.00 | 43.93 |
+----------+--------+------+------------+--------+--------+----------+
| and | 55.00 |56.00 | 1.00 | 27.20 | 46.50 | 28.31 |
+----------+--------+------+------------+--------+--------+----------+
| and | 56.00 |57.00 | 1.00 | 38.30 | 308.00 | 45.63 |
+----------+--------+------+------------+--------+--------+----------+
| and | 57.00 |58.00 | 1.00 | 68.10 |1100.00 | 94.29 |
+----------+--------+------+------------+--------+--------+----------+
| and | 58.00 |59.00 | 1.00 | 9.47 | 90.00 | 11.61 |
+----------+--------+------+------------+--------+--------+----------+
* 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%
Detailed Mineralogy of the RR11-71 Intercept:
A detailed description of the mineralization in RR11-71 has been excerpted from
a summary log made during the initial stages of logging of the discovery:
"A ten to twelve metre wide zone of high grade mineralization is apparent in
hole RR11-71, maybe 40 to 50 electrum sites seen thus far in a bonanza looking
zone of intense sphalerite-galena-chalcopyrite mineralization of the foliated
dacite host rock. Zone runs roughly from 47m to 58m down hole, maybe wider. The
noted electrum sites consist of easily visible crack fills, clusters of grains
and as ladder veinlets cutting across grey quartz veinlets. Most electrum seen
so far is occurring in numerous centimetre to decimetre-scale grey to white
quartz veinlets, both lying in and cross cutting the foliation. The veinlets are
deformed and highly discontinuous but are numerous enough to give the impression
of being breccias infill silica rather than true veinlets. The electrum bearing
intervals are surrounded by dense webs of dark brown sphalerite and associated
galena and chalcopyrite. The noted electrum is very pale to nearly as white as
native silver. Rarely, it has a bronze sheen when smeared but is never bright
yellow."
The logging of the pale, smeared material as electrum is fully supported by fire
and total metallic gold assays of the zone. The details of the mineralogy of the
silver mineralization have not been confidently established. The logged amounts
of electrum can likely explain the silver values that are less than 300 g/t. The
much higher values seen in several of the individual samples in this zone
strongly suggest silver is also occurring as a sulfide, either within
argentiferous galena or as a primary silver sulfide. It is also likely that some
of the bright white native metal logged as electrum could be nearly pure native
silver.
Other Results from the Central, North and Far North Fence Drilling:
The following table summarizes a series of holes which have been received since
the last news release. Note that the list of hole numbers in the table contain
gaps due to delays in assays being completed.
+---------+------+------+--------+-----+------+-----+-------+------+------+
| Drill | From | To |Interval| Au | Ag |AuEq | Drill | Dip | Az. |
| | | | | | | | | | |
| Hole | (m) | (m) | (m) |(g/t)|(g/t) |(g/t)| Fence |(Deg.)|(Deg.)|
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-43 |114.90|122.55| 7.65 |0.49 |12.17 |0.78 | North | 55 | 1.5 |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-44 |371.00|374.00| 3.00 |0.42 | 0.80 |0.44 |Central| 80 | 358 |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-45 |134.70|154.55| 19.85 |0.39 |10.62 |0.64 | North | 70 | 1.5 |
| | | | | | | | | | |
|including|153.00|154.55| 1.55 |1.28 | 2.50 |1.34 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-53 |267.50|269.00| 1.50 |1.92 |65.50 |3.48 |Central| 80 | 0 |
| | | | | | | | | | |
| and |306.50|308.00| 1.50 |2.70 | 4.90 |2.82 | | | |
| | | | | | | | | | |
| and |335.00|336.50| 1.50 |1.61 | 6.80 |1.78 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-54 |100.00|113.00| 13.00 |0.64 |32.48 |1.42 | North | 45 | 353 |
| | | | | | | | | | |
|including|100.00|101.00| 1.00 |1.19 |61.30 |2.65 | | | |
| | | | | | | | | | |
|including|107.00|108.00| 1.00 |1.77 |72.00 |3.48 | | | |
| | | | | | | | | | |
|including|109.00|110.00| 1.00 |1.13 |41.70 |2.12 | | | |
| | | | | | | | | | |
|including|112.00|113.00| 1.00 |1.25 |17.80 |1.67 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-55 |166.00|167.00| 1.00 |1.21 | 9.60 |1.44 |Central| 45 | 355 |
| | | | | | | | | | |
| and |185.00|186.50| 1.50 |0.46 |38.70 |1.38 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-56 |98.00 |99.00 | 1.00 |0.10 |22.30 |0.63 | North | 50 | 353 |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-57 |186.00|188.00| 2.00 |0.74 |32.55 |1.52 |Central| 60 | 355 |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-58 |95.00 |98.00 | 3.00 |0.40 | 1.95 |0.44 | North | 60 | 353 |
| | | | | | | | | | |
| and |108.50|120.50| 12.00 |0.14 |18.91 |0.59 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-59 |157.00|161.00| 4.00 |1.02 |22.00 |1.54 | North | 80 | 353 |
| | | | | | | | | | |
|including|158.00|159.00| 1.00 |1.68 |23.60 |2.24 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-60 |213.50|222.50| 9.00 |0.36 | 6.27 |0.51 |Central| 57 | 355 |
| | | | | | | | | | |
|including|216.50|219.50| 3.00 |0.59 |12.25 |0.89 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-62 |219.50|221.00| 1.50 |0.59 | 4.80 |0.71 |Central| 55 | 358 |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-64 |34.20 |53.00 | 18.80 |0.29 | 7.21 |0.46 | Far | 45 | 355 |
| | | | | | | | | | |
|including|34.20 |39.50 | 5.30 |0.71 |12.66 |1.01 | North | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-70 |24.50 |84.80 | 60.30 |0.79 |23.22 |1.34 | Far | 60 | 358 |
| | | | | | | | | | |
|including|38.00 |84.80 | 46.80 |0.99 |27.39 |1.64 | North | | |
| | | | | | | | | | |
|including|41.00 |84.80 | 43.80 |1.02 |28.15 |1.69 | | | |
| | | | | | | | | | |
|including|41.00 |50.00 | 9.00 |3.25 |96.34 |5.54 | | | |
| | | | | | | | | | |
|including|45.00 |46.00 | 1.00 |17.90|511.00|30.07| | | |
| | | | | | | | | | |
| and |81.40 |82.80 | 1.40 |4.20 |61.10 |5.65 | | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
| RR11-71 |15.50 |95.00 | 79.50 |8.66 |57.67 |10.03| Far | 70 | 358 |
| | | | | | | | | | |
|including|38.00 |90.60 | 52.60 |13.07|85.70 |15.11| North | | |
| | | | | | | | | | |
|including|46.00 |61.00 | 15.00 |45.24|281.03|51.93| | | |
| | | | | | | | | | |
|including|47.80 |59.00 | 11.20 |60.05|362.96|68.69| | | |
+---------+------+------+--------+-----+------+-----+-------+------+------+
* 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%
* The down hole interval lengths in hole RR11-70 are estimated to be
approximately 85%-95% of true width
Current Exploration Summary:
Aggressive drilling is continuing at the Burns property using three well
maintained hydrostat diamond rigs. The average daily core production is between
250 and 325 metres of drill core. The man power behind this program is
increasingly being attained from First Nations and local workers living in the
area bounded by Fort Frances, Nestor Falls and Rainy River, Ontario.
Bayfield's exploration and delineation drill program continues to consist of two
main objectives. The primary objective is to continue to define the eastward
extension of the main zone of foliated, sericite altered and sulfide mineralized
dacite rocks. This rock package is the primary host for both the low grade and
high grade gold and silver mineralization found at the Burns Block to date.
Infill drilling of the widely spaced expansion drilling accomplishes the second
objective which is the discovery of high grade gold and silver mineralization
within the lower grade envelope. Thus far, the majority of the drilling has
focused in on the western 250 metres of the property leaving 550 metres of
strike length unexplored to the east.
Jim Pettit, CEO of Bayfield Ventures, stated: "Drilling the highest grade
interval to date, and expanding the high grade mineralized shoot to the north
and near surface, is a major milestone for the Burns Block project. This
significant achievement by our technical team further illustrates the continuous
value being added to the property as well as the considerable exploration
potential going forward. The high grade intercept in hole RR11-71 is
approximately 600 metres away from the high grade discovery made last year in
hole RR10-18 as measured by the linear plunge distance. The Company will
continue the exploratory drilling to the east to further prove up the bulk
tonnage, pervasive mineralization on the property while attempting to locate and
delineate additional high grade zones. With three active drill rigs and over
50,000 metres of drilling left in the program, management is very pleased with
the progress to date as well as the future prospects for the Company."
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.
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 approximately $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#1526115]
Unternehmensinformation / Kurzprofil:
Datum: 27.06.2011 - 11:00 Uhr
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News-ID 55881
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contact information:
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