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Drilling Resumes in Rainy River, NW
Ontario, Sampling, VTEM Survey, and Drill Results Announced
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") is providing an exploration
update on its 100% owned Rainy River gold properties in north-western
Ontario. The Company's 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:
. 25,000+ metres of diamond drilling planned
for 2011; two rigs have commenced drilling on Burns Block
. Continuing to prove up lower grade, bulk tonnage gold mineralization as
well as higher grade gold zones / chutes
. Gold intercepts reported on Burns Block continue to define eastern
extension of Rainy River Resource's main ODM17 gold zone
. Late 2010 detailed geologic mapping and sampling highlight excellent
potential for new discoveries as well as extending ODM17 gold zone
completely across Burns Block, a strike length of 800 metres
. Airborne geophysical survey completed December, 2010: strong, discrete
conductor in the east portion of Burns Block in same area as multi-gram
surface samples (will be drill tested)
. "C" Block survey presents top quality drill targets with
drill testing planned for Q1
Resumption of Drilling on the Burns Block:
Bayfield has re-mobilized drill crews back onto its Burns Block property
and diamond drilling has commenced after a break for the holiday season.
One of the drill rigs is currently drilling a vertical hole in the
southwest corner of the property while the second rig has just resumed
drilling 50 metres east of previously drilled
holes RR10-53 and 54. The Company will continue its aggressive
exploration program with 25,000+ metres of
diamond drilling planned for its Rainy River projects which will carry on
throughout this year. The results thus far in the program have been very
successful in delineating the eastern extension of Rainy River's main
ODM17 gold zone onto the Burns Block. Bayfield continues to discover and
define both lower grade, bulk tonnage
mineralization as well as higher grade zones on its Burns property. There
is a high potential for further gold discoveries, including additional
high grade chutes, east of the current drilling which has only extended
approximately 150 metres from the western border of the property.
Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
Chip Sampling Results from the Burns Block:
Detailed geologic mapping and sampling of the Burns Block in September
and October 2010 confirmed that the key altered and foliated dacite
volcanic unit extends completely across the Burns Block property to the
east. Surface samples collected during the mapping returned several
assays greater than 1 g/t Au. Follow-up chip sampling was completed in
the eastern portion of the Burns Block in November 2010. Assays from
these samples have been received and indicate the presence of strong gold
mineralization at surface. Of the 23 chip samples collected, five
returned gold assays greater than 1 g/t Au including values of 5.2 g/t
Au, 4.05 g/t Au and 3.5 g/t Au.
These results highlight the excellent potential for extending the ODM17
gold zone completely across the Burns Block, constituting a strike length
of 800 metres.
VTEM and Cesium Magnetic Survey:
Bayfield contracted Geotech Ltd. to fly a combined VTEM and high
sensitivity cesium magnetometer survey over its Burns, "B" and
"C" Block properties. A total of 308 line kilometres were flown
in the survey which was completed in mid-December, 2010. Preliminary data
from the survey has now been received and is being used to advance the
understanding of the structural geology of the surveyed areas as well as
to provide specific drill targets at discrete conductors, resistors and
structural intersections.
The survey was flown in two distinct blocks, an eastern block covering
the Burns and "B" Block exploration areas and a western block
covering the large "C" Block exploration area. Interpretation
of the preliminary data is complete and the following drill targets have
been identified:
. A strong, discrete conductor in the east-central portion of the
Burns Block has been identified and will be drill tested. No previous
drilling has been done in this portion of the property. The anomaly is
located in the same area as the multi gram surface samples reported
above.
. A strong, discrete conductor in the northeast portion of the
"B" Block has been identified and will be drill tested. No
previous drilling has been done in this portion of the "B"
Block property.
. The cesium magnetic data from the "C" Block survey show clear
evidence of mafic volcanic rocks in the northern portion of the property.
These rocks are separated from interpreted intermediate volcanic rocks by
a sharp contact that is very likely a fault. The interpreted fault
contact and the area of interpreted intermediate volcanic (dacite or equivalent)
rocks present top quality drill targets at the "C" Block. Drill
testing of this area is planned for the first quarter.
Discussion of Gold Assay Results from Holes RR10-50 to RR10-54:
Bayfield has received the remaining assays from the last few holes
completed before the holiday break. Previously reported hole RR10-52
contains 143.10 g/t Au over 0.6 metres, 89.96 g/t Au over 1.1 metres, and
9.52 g/t Au over 10.6 metres all within 46.6 metres of 2.28 g/t Au. This
drill intercept is at a depth of about 400 metres down-hole and the 1.1
metre high grade intersection is hosted in a quartz-calcite vein. Hole RR10-53 intercepted 12.2 metres of 1.25 g/t Au
from 555.2 to 567.4 metres as well as 3.0 metres of 2.24 g/t Au from
562.3 to 565.3 metres. Hole RR10-51 intercepted
14.0 metres of 0.96 g/t Au from 530.0 to 544.0 metres down-hole.
Contained within that intersection is 1.0 metre of 4.03 g/t Au, 1.0 metre
of 3.59 g/t Au and 1.0 metre of 1.35 g/t Au. Hole
RR10-54 returned metre long samples of 1.83 g/t Au and 1.42 g/t Au within
an anomalous interval from 404.5 to 439.0 metres down-hole. Hole RR10-50 carried anomalous gold values over a
longer width. All five holes, located in the southwest portion of the
Burns Block, intersected the strongly sericite altered, highly foliated
dacite volcanic unit over intervals ranging from 100 to 140 metres.
Exploration Potential:
Bayfield is still at an early stage of exploration on its Rainy River
properties. The compiled geologic and analytical results from exploration
completed on the Burns Block in 2010 unequivocally demonstrate that the
large, pervasively mineralized gold deposit being developed by Rainy
River Resources continues onto and potentially entirely across the Burns
Block property.
Jim Pettit, CEO of Bayfield Ventures, stated: "The exploration on
Bayfield's Burns Block in 2010 was very successful in advancing the
property as drill results consistently proved up both bulk tonnage gold
mineralization as well as higher grade gold zones. The Company is excited
to continue its 50,000+ metre drill program into 2011 on its Rainy River
properties. With the new geologic sampling and geophysical data,
management is confident more gold discoveries will be made by Bayfield on
its projects."
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. The Company has approximately 53 million shares
outstanding and over $7 million in its treasury.
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=56518514278&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@bayfieldventures.com
Other Contact:
Envoy Strategic Partners Investor Relations
Jay Bedard
Telephone: 416-977-7778
Email: jay@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.
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