January
31, 2008 (TSX-V: BYV)
NEWS
RELEASE
Initial
Results from Claim Block “B” Drilling,
Geophysical
Program Underway on Claim Block “C”,
Rainy
River District, NW Ontario
Vancouver,
BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB:
B4N) (the “Company”) announces initial results from
diamond drilling of its Claim Block “B” property located immediately
to the northeast of the ongoing Rainy River Resources delineation drilling of
their #17 gold zone and the #433 polymetallic zone in the Rainy River
District of Northwestern Ontario.
Rainy
River Ontario Claims Map:
http://www.bayfieldventures.com/i/maps/BYV-RR-New-Area-All.gif
Bayfield
initially drilled 5 holes in late fall of 2007 on the Claim Block
“B” property in its Phase I drill program as a follow up to
detailed geophysics carried out on the ground to determine the geology
of the property in relationship to the proximity of the Rainy River Resources
(RR) ongoing drill program. Bayfield then drilled an additional 3 holes on
the Claim Block “B” property as a follow up to initial drill
results.
Bayfield’s
1st Hole R7B-1 intersected 18 metres of a highly anomalous gold
zone from 121 metres to 139 metres with values ranging between 100 ppb gold
to 610 ppb gold. Bayfield’s 7th Hole R7B-7 initial assay results
has intersected 32.8 metres of a highly anomalous gold zone from 129.3 metres
to 162.1 metres with values ranging between 50 ppb gold to 460 ppb gold
and a deeper intersection from 272 metres to 282.5 metres with values ranging
between 100 ppb gold to 580 ppb gold. Hole R7B-7 also intersected zinc from
220 metres to 224.8 metres of 1.2% zinc and from 228.9 metres to 233.1 metres
of 1.6% zinc.
The
Company has submitted further detailed sampling for assay from the Claim
Block “B” core to TSL Laboratories in Saskatoon and currently
awaits further detailed analytical results from the above zones.
Bayfield
is encouraged with the results received to date from the initial Phase 1
drill program. The polymetallic mineralization encountered in this preliminary
drill program is consistent with and typical of the style of mineralization
in the Rainy River area including the property of Rainy River Resources that
hosts the #17 gold zone and the #433 polymetallic zone. The geological
similarities to the Rainy River Resources #17 gold zone and the #433
polymetallic zone seen in the Bayfield Claim Block “B” rock types
is very encouraging. The Company proposes a Phase 2 drill program on its
Claim Block “B” consisting of 4-6 additional drill holes. It is
anticipated that this drilling will be conducted around mid March.
The
Company also announces that it has initiated its 2008 winter exploration
program on its Claim Block “C” property in the Rainy River
District of Northwestern Ontario.
A tightly spaced line-cut grid
consisting of approx 70 km was established on the Claim Block “C”
property in November 2007. Bayfield Ventures has contracted a detailed
Magnetometer survey and an Electro-Magnetic (EM) survey with Dan Patrie
Explorations and the geophysical survey is now in progress. The geophysical
program is designed to establish targets that will be diamond drilled in mid
March. The property has a large area of low lying acreage and swampland, so
the work program is designed to utilize winter access to the maximum and to
allow a comprehensive drill program to be carried out before spring.
David
J. Busch, B.A., B.Sc., PGeo., is the qualified person under the meaning of
National Instrument 43-101 and has reviewed the data in this News Release.
Bayfield Ventures Corp. is actively involved in the
exploration for gold in Northwestern Ontario, and copper-gold and coal in the
South Gobi region of Mongolia.
Property partners include Goldcorp and BHP Billiton.
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
“Don Huston”
DONALD C. HUSTON
President
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