Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") is pleased to announce additional significant silver intercepts 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's latest NI 43-101 resource calculation shows a measured and indicated resource of 4.41 million ounces of gold, averaging 1.17 g/t gold, in addition to an inferred resource of 2.33 million ounces of gold, averaging 0.94 g/t gold. Rainy River considers that the material above the final depth of the conceptual pit shell (450 metres vertical depth) offers reasonable prospects for economic extraction from an open pit using a cut-off grade of 0.35 g/t gold (June 29, 2011 by SRK Consulting (Canada) Inc.).
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
These silver assays represent the last of silver assays requested from ACT Labs for samples that were initially assayed for gold only.
Highlights:
- 1.10m of 1,414.55 g/t silver (0.14% Ag) occurs with previously reported 89.95 g/t gold in hole RR10-52.
- 14.0m of 35.35 g/t silver reported for north fence hole RR10-43 starting at 93m down hole.
- 23.4m of 11.90 g/t silver reported for central fence hole RR11-7
- Gold and silver assays are pending for 37 recently completed holes at Burns Block.
- Detailed chip sampling of dacites outcrops is being done on an established grid in the area of step-out hole RR11-131 which discovered three near surface zones of gram level gold mineralization (previously reported).
Discussion of Results:
Bayfield's current assay procedures include the assaying for both gold and silver in all submitted samples. The recently received silver assays in this news release represent the remainder of the backlog of samples that had been assayed for gold only. The table below details significant silver assays along with the previously reported gold values for the listed intervals. The gold equivalent using the new silver assays along with the previously reported gold values are also displayed in the table.
As is apparent in the table, silver mineralization is an important part of the precious metal mineralization being delineated at the Burns Block property. Locally, silver values are very high and will likely add significant value to the project.
Detailed examination of the retained half of the core from the very high grade zone in RR10-52 which assayed 1,414.55 g/t silver over 1.10m including 2,020.00 g/t silver over 0.6m has been done since the silver assays were received. The interval contains grains of native gold and electrum along with abundant medium orange/brown sphalerite, pale pyrite and galena and fluorite. No native silver has been seen in the interval.
This assemblage is concentrated along the margins of a calcite/ankerite vein. There does not appear to be enough electrum or galena to account for the bonanza grade silver values received. It is likely that the silver is largely present as very fine grained acanthite (Ag2S) disseminated within grey quartz zones in the margins of the carbonate vein.
Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
Silver Assays and Previously Reported Gold Assay Results :
|
Drill Hole |
From (m) |
To (m) |
Interval (m) |
Ag (g/t) |
Au (g/t) |
AuEq (g/t) |
|
RR10-38 |
438.00 |
439.00 |
1.00 |
13.10 |
0.77 |
1.06 |
|
|
448.00 |
452.00 |
4.00 |
15.33 |
0.22 |
0.56 |
|
RR10-40 |
404.00 |
406.00 |
2.00 |
56.50 |
0.51 |
1.77 |
|
|
462.00 |
463.00 |
1.00 |
35.50 |
0.57 |
1.36 |
|
RR10-41 |
106.00 |
112.00 |
6.00 |
27.79 |
0.38 |
1.00 |
|
|
120.00 |
121.00 |
1.00 |
23.90 |
0.33 |
0.86 |
|
RR10-42 |
133.00 |
141.00 |
8.00 |
19.06 |
0.36 |
0.78 |
|
|
147.00 |
148.10 |
1.10 |
16.90 |
0.87 |
1.25 |
|
|
152.80 |
154.00 |
1.20 |
14.70 |
1.21 |
1.54 |
|
RR10-43 |
91.00 |
92.00 |
1.00 |
30.00 |
0.10 |
0.76 |
|
|
93.00 |
107.00 |
14.00 |
35.35 |
0.50 |
1.29 |
|
including |
100.00 |
107.00 |
7.00 |
55.11 |
0.83 |
2.05 |
|
RR10-44 |
110.00 |
111.00 |
1.00 |
28.00 |
0.22 |
0.84 |
|
RR10-45 |
136.00 |
146.00 |
10.00 |
29.84 |
0.52 |
1.18 |
|
RR10-46 |
288.00 |
289.00 |
1.00 |
15.60 |
5.58 |
5.93 |
|
|
303.00 |
304.00 |
1.00 |
19.10 |
0.45 |
0.87 |
|
RR10-47 |
378.00 |
387.00 |
9.00 |
20.38 |
3.34 |
3.79 |
|
including |
383.00 |
384.00 |
1.00 |
89.00 |
14.80 |
16.78 |
|
RR10-48 |
405.00 |
406.00 |
1.00 |
19.70 |
1.09 |
1.53 |
|
RR10-51 |
509.00 |
511.00 |
2.00 |
69.70 |
1.24 |
2.79 |
|
|
531.00 |
532.00 |
1.00 |
29.00 |
4.03 |
4.67 |
|
|
542.00 |
543.00 |
1.00 |
21.70 |
3.59 |
4.07 |
|
RR10-52 |
402.40 |
403.50 |
1.10 |
1414.55 |
89.95 |
121.39 |
|
including |
402.40 |
403.00 |
0.60 |
2020.00 |
143.00 |
187.89 |
|
|
463.00 |
464.00 |
1.00 |
32.40 |
0.80 |
1.52 |
|
RR10-53 |
555.20 |
567.40 |
12.20 |
13.52 |
1.26 |
1.56 |
|
|
555.20 |
556.20 |
1.00 |
36.40 |
3.08 |
3.89 |
|
RR11-6 |
561.00 |
579.20 |
18.20 |
13.16 |
0.69 |
0.98 |
|
|
608.70 |
609.70 |
1.00 |
25.10 |
0.93 |
1.49 |
|
RR11-7 |
171.80 |
172.80 |
1.00 |
16.50 |
0.24 |
0.61 |
|
|
187.00 |
210.40 |
23.40 |
11.90 |
0.50 |
0.76 |
|
including |
192.20 |
202.30 |
10.10 |
20.20 |
0.39 |
0.84 |
|
including |
192.20 |
193.20 |
1.00 |
77.00 |
0.35 |
2.06 |
|
RR11-11 |
306.90 |
309.00 |
2.10 |
119.21 |
1.80 |
4.45 |
|
RR11-12 |
197.20 |
198.20 |
1.00 |
199.00 |
0.52 |
4.94 |
|
|
219.60 |
221.60 |
2.00 |
11.95 |
1.45 |
1.72 |
|
including |
220.60 |
221.60 |
1.00 |
14.40 |
1.93 |
2.25 |
* g/t = grams per metric tonne
* The down hole interval lengths are estimated to be approximately 65%-95% of true width
* AuEq (gold equivalent) values calculated at a 45 to 1 (gold price vs. silver price) ratio and metallurgical recoveries and net smelter returns are assumed to be 100%
* The intervals were determined using a 0.35 g/t gold equivalent cut-off grade with a maximum gap of 3.0 metres between intervals below the cut-off grade
Current Exploration Summary:
Bayfield has restarted the drilling of the Burns Block following a three week shutdown to allow assay data to catch up with the drilling program. In addition, surface sampling of dacites outcrops in the northeast portion of the property is being done to help define the trend of newly discovered, near surface gold/silver mineralization (previously reported step-out hole RR11-131).
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.
Robert Marvin, P.Geo., CPG, 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 62.2 million shares outstanding and approximately $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.
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=479242
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.