Bayfield Clarifies Misinformation by US Newsletter Writer
(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
July 27, 2011
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company")
is issuing this news release as a result of yesterday's interview on BNN with a
US based newsletter writer discussing disclosure of Bayfield's drill results on
its Burns Block property adjacent to Rainy River Resources' (TSX-V: RR) gold and
silver deposit located in North-western Ontario.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Factual errors were made in the BNN segment titled "Commodities: July 26, 2011:
Evaluating Junior Miners" when the US newsletter writer stated that Bayfield's
latest drill results show a 1 (one) metre interval of high grade at a depth of
300 to 400 metres and the rest would be considered waste rock. The US based
newsletter writer repeats several times throughout the interview the 1 (one)
metre only of high-grade and goes onto say that there is little continuity
between the high grade holes. The same US newsletter writer was also quoted in a
recent Northern Miner article.
In fact, Bayfield's latest drill results on Hole RR11-71 show an 11.2 metre
intersection of 60.05 grams per tonne gold and 362.96 grams per tonne silver
starting at a down hole depth of 47.80 metres. Given the 70 degree angle of the
hole, this intersected mineralization starts at a true depth of approximately
42.0 metres below surface. This mineralized zone dips south at 50 to 70 degrees
and strikes nearly east-west in the western portion of the Burns Block.
Below is a chart breaking down the 11.2 metre intersection of 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 (gold equivalent) values calculated at a 42 to 1 (gold price vs. silver
price) ratio and metallurgical recoveries and net smelter returns are assumed to
be 100%
Below is a chart showing a number of high-grade gold and silver results
previously reported by Bayfield. The Company is also supplying links to a cross
section of these holes as well as a surface map showing all drill collar
locations.
Link to Burns Block High Grade Holes Cross Section:
http://www.bayfieldventures.com/i/maps/BYV_BBHGHXS.jpg
+----------+--------+------+------------+--------+--------+----------+
|DRILL HOLE|FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+----------+--------+------+------------+--------+--------+----------+
| RR10-15 | 190.00 |199.00| 9.00 | 12.88 | 39.26 | 13.58 |
| | | | | | | |
| | 194.00 |197.00| 3.00 | 31.71 | 50.23 | 32.61 |
| | | | | | | |
| | 195.00 |196.00| 1.00 | 48.10 | 52.30 | 49.03 |
+----------+--------+------+------------+--------+--------+----------+
| RR10-18 | 173.00 |178.00| 5.00 | 0.83 | 0.82 | 0.84 |
| | | | | | | |
| | 489.00 |491.00| 2.00 | 2.45 | 25.30 | 2.90 |
| | | | | | | |
| | 497.00 |507.00| 10.00 | 35.93 | 359.65 | 42.35 |
| | | | | | | |
|including | 498.00 |499.00| 1.00 | 63.90 |1760.00 | 95.33 |
| | | | | | | |
| and | 499.00 |500.00| 1.00 | 109.00 | 96.10 | 110.72 |
| | | | | | | |
| and | 503.00 |504.00| 1.00 | 90.30 | 881.00 | 106.03 |
| | | | | | | |
| | 542.00 |563.00| 21.00 | 1.24 | 42.77 | 2.00 |
| | | | | | | |
|including | 545.00 |546.00| 1.00 | 15.60 | 719.00 | 28.44 |
+----------+--------+------+------------+--------+--------+----------+
| RR10-52 | 402.40 |403.50| 1.10 | 89.96 | | |
+----------+--------+------+------------+--------+--------+----------+
| RR11-1 | 509.50 |510.20| 0.70 | 21.60 | 21.00 | 22.07 |
| | | | | | | |
| | 550.75 |561.70| 10.95 | 1.71 | 78.36 | 3.45 |
| | | | | | | |
|including | 559.90 |561.70| 1.80 | 5.70 | 282.11 | 11.97 |
| | | | | | | |
| | 617.85 |627.00| 9.15 | 8.37 | 40.57 | 9.27 |
| | | | | | | |
|including | 623.90 |626.10| 2.20 | 33.13 | 208.18 | 37.76 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-5 | 161.80 |201.75| 39.95 | 2.51 | 20.47 | 3.00 |
| | | | | | | |
|including | 161.80 |183.00| 21.20 | 4.37 | 28.20 | 5.04 |
| | | | | | | |
| and | 174.40 |181.00| 6.60 | 13.00 | 70.22 | 14.67 |
| | | | | | | |
| and | 174.40 |177.90| 3.50 | 15.26 | 66.91 | 16.85 |
+----------+--------+------+------------+--------+--------+----------+
| 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 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-70 | 33.50 |59.00 | 25.50 | 1.42 | 44.24 | 2.47 |
| | | | | | | |
|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 |
| | | | | | | |
| | 74.00 |84.80 | 10.80 | 0.87 | 13.02 | 1.18 |
| | | | | | | |
|including | 81.40 |82.80 | 1.40 | 4.20 | 61.10 | 5.65 |
+----------+--------+------+------------+--------+--------+----------+
| RR11-71 | 38.00 |63.50 | 25.50 | 26.70 | 170.69 | 30.77 |
| | | | | | | |
|including | 46.00 |61.00 | 15.00 | 45.24 | 281.03 | 51.93 |
| | | | | | | |
| and | 47.80 |59.00 | 11.20 | 60.05 | 362.96 | 68.69 |
+----------+--------+------+------------+--------+--------+----------+
* g/t = grams per metric tonne
Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
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
$8.5 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.
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#1534139]
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2011 - 22:50 Uhr
Sprache: Deutsch
News-ID 56781
Anzahl Zeichen: 14371
contact information:
Town:
Vancouver
Kategorie:
Business News
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