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Wednesday, February 16, 2011
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News Release
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Bayfield Drills 33.13 g/t Au and
208.18 g/t Ag over 2.2m within 116.6m of 1.05 g/t Au and 13.34 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
Resources' March 2010 NI 43-101 compliant resource includes 2.37 million
ounces of gold at 1.3 g/t in the indicated category and an additional
2.66 million ounces of gold at 1.2 g/t in the inferred category.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
. Notable high grade gold intercept: 33.13 g/t gold over 2.2 metres, 21.6
g/t gold over 0.70 metres and 1.71 g/t gold over 10.95 metres all within
116.60 metres of 1.05 g/t gold in drill hole RR11-1
. The gold zone in RR11-1 represents the down-plunge extension of the
high grade mineralization intercepted in previous holes RR10-18, RR10-52
and RR10-15
. Significant silver mineralization accompanying gold mineralization in
RR11-1 including 208.18 g/t silver over 2.2 metres within 116.6 metres of
13.34 g/t silver
. Gold intercepts reported on Bayfield's Burns Block continue to define
eastern extension of Rainy River Resource's main ODM17 gold zone
. Infill and up-plunge extension drilling of the high grade zone
continues with one rig
. Expansion drilling of the continuation of the ODM17 zone to the east on
the Burns Block continues with second rig
. Assays pending for nine more holes
Discussion of Results from Hole RR11-1:
Hole RR11-1 was collared near the southwest corner of the Burns Block and
intersected high grade gold and silver mineralization in a position 80
metres down-plunge of the previously announced high grade gold intercept
in hole RR10-18. Hole RR11-1 was the first hole drilled by Bayfield in
2011 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.
Visible gold, electrum and native silver were noted during logging of the
mineralized interval. Coarse gold and electrum occur as cross cutting
fracture fillings within a distinctive foliated and sericite altered
dacite host rock. Native silver (or silver rich electrum) occurs as
mm-scale blebs, smears or dendritic clumps localized within the strong
foliation. 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 RR11-1 are summarized in the table below.
Note that silver mineralization occurs with the gold mineralization and
that the silver content of the mineralization has an important impact on
the grade of the mineralized zones when combined and expressed as gold
equivalent values or AuEq (far right column of the table).
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 RR11-1:
�� HOLE ������ FROM (m) � TO (m)���� INTERVAL (m)�� Au (g/t)� Ag (g/t)� AuEq (g/t) � RR11-1������ 509.50� � 626.10������ 116.60� ����� 1.05���� 13.34� ���� 1.35 including����� 509.50� � 510.20������ 0.70�� ���� 21.60���� 21.00� ��� 22.07 �� and� ������� 550.75 � 561.70������ 10.95�� ����� 1.71���� 78.36� ���� 3.45 �� and� ������� 623.90 � 626.10������ 2.20�� ���� 33.13���� 208.18� ��� 37.76
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 45 to 1 (gold price vs.
silver price) ratio
Current Exploration Summary:
Bayfield is still at an early stage of exploration on its Rainy River
properties with approximately 28,000 metres of drilling completed out of
the planned 50,000+ metre drill program. Assays are pending for nine more
holes (RR11-2 through RR11-10).
The Company is currently using two diamond drill rigs to carry out the
exploration of the eastern extension of Rainy River Resource's main ODM17
gold zone onto the Burns Block. One of the rigs is currently defining the
high grade gold chute near the western border of the Burns property by
delineating the up-plunge extension of the high grade gold mineralization.
The second rig is conducting the initial exploration of the foliated,
sericite altered and mineralized dacite volcanic host rock to the east
further into the Burns Block. The most easterly hole drilled in this
program on the Burns Block is 150 metres from the western boundary,
leaving 650 metres of strike length yet to be drilled to the east.
Jim Pettit, CEO of
Bayfield Ventures, stated: "Hole RR11-1 is a very encouraging start
to the year as it has intersected the down-plunge high grade extension
from holes RR10-18, 15 and 52. The delineation of this high grade chute
is ongoing on the Burns Block as well as the continued easterly step-out
drilling. With 650 metres of unexplored strike length on the property,
the Company is excited with the potential for new gold and silver
discoveries over to the east.
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 53 million shares
outstanding and over $7 million in its treasury.
Smartstox recently wrote a report on Bayfield: http://www.smartstox..com/reports/byv/.
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@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.
You can also view this News Release on our website at:
http://www.bayfieldventures.com/s/NewsReleases.asp?ReportID=442647
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.
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