Bayfield Expands Rainy River Exploration Program
with Drilling Commencing on 'C' & 'B' Block Properties
Bayfield
Ventures Corp. (TSX VENTURE:BYV.V - News) (FRANKFURT:B4N.F - News) (the "Company")
is pleased to announce an expanded exploration program on its projects in the
Rainy River District of north-western Ontario. Diamond drilling is now underway
on the Company's 100% owned, 1,976 acre "C" Block property situated
to the west of Rainy River Resources' multi-million ounce gold deposit. Additionally,
drilling on Bayfield's 100% owned, 1,185 acre "B" Block property will
commence immediately. Drilling has resumed after the holiday break on the 100%
owned, 80 acre Burns Block flagship project which is situated adjacent to the
east and on strike to Rainy River Resources' main ODM17 gold zone.
Rainy River
gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
"C"
Block Exploration:
Exploratory
drilling of the "C" Block property is now underway. The property is
well positioned along the western extension of the Rainy River gold district.
The goal of this initial drilling is to establish the character of the bed rock
across the property since the vast majority of the property is covered by
glacial till deposits. The property is underexplored and constitutes
significant blue sky potential for Bayfield in the emerging Rainy River gold
district.
"C"
Block satellite map with conductors and drill hole
location:
http://www.bayfieldventures.com/i/maps/C-Block-Satellite-Map-with-Conductors.jpg
Drill targeting
is being guided by the compiled results of ground magnetic surveys completed in
2007 and by the results of helicopter VTEM and magnetic data flown for Bayfield
in late 2010. These data compare favourably with similar data collected at the
Burns and "B" Block area and suggest that a similar package of rock
types is present in both areas. Ten planned holes will complete a south to
north transect across the property. Further work will be contingent on the
results of this first phase of drilling.
"C"
Block total magnetic intensity map and drill hole
location:
http://www.bayfieldventures.com/i/maps/C-Block-Total-Magnetic-Intensity-Map.jpg
"B"
Block Exploration:
In 2008,
Bayfield drilled 2 metres of 5.84 g/t gold in the south-central portion of the
"B" Block. This mineralization lies within 200 metres of the surface.
However, a small amount of follow-up drilling conducted by Bayfield in 2010 was
unsuccessful in extending this mineralized zone. Data from drilling completed
on our flagship Burns Block property in 2010 and 2011 has shown a strong
tendency for higher-grade gold and silver mineralization to be localized in
predominantly north-south trending structures within a pervasive lower-grade
mineralized envelope. The drilling completed at the "B" Block in 2010
was not directed at north-south structures and was therefore insufficient in
properly targeting the know orientations of gold and silver zones. A series of
east to west trending holes has been planned to more efficiently explore for
zones of gold and silver mineralization given the geology and str uctures
common in the district. This drilling will commence by January 24th.
Burns Block
Exploration:
Bayfield has
resumed the drilling on its flagship Burns Block Project and is currently
exploring the property to the east. To date, over 260 holes have been completed
on the Burns Block. The Company is consistently intercepting the target sericite altered shear zone while closely watching for
additional mineralization in both the hanging wall and footwall of the main
zone. Bayfield is also drill testing the high magnetic/conductor anomaly
identified by geophysical work completed last December in the northeast
quadrant of the Burns Block. Results from this ongoing drilling are still
pending.
Updated Burns
Block drill hole location map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Nov_2011.jpg
Bayfield has a
remaining 30,000 metres of drilling in its 100,000 metre ongoing program at its
Rainy River properties with the bulk of this drilling to be carried out on the
Burns Block.
Qualified
Person:
Robert Marvin, P.Geo.,
CPG, VP Exploration for Bayfield Ventures is the Qualified Person as defined by
National Instrument 43-101 and supervised both the project field work and the
preparation of the technical information in this release.
About Bayfield
Ventures Corp.:
Bayfield
Ventures Corp. is exploring for gold and silver in the Rainy River District of
north-western Ontario.
The Company has
62.8 million shares outstanding and over $4 million in its treasury.
On February
15th, Bayfield Ventures was recognized as a TSX Venture 50(R) company in 2011.
TSX Venture 50 is a trade-mark of TSX Inc. and is used under license. The TSX
Venture 50(R) 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 VENTURE:BYV.V - News), visit the Company's web
site at www.bayfieldventures.com.
ON BEHALF OF
THE BOARD OF DIRECTORS
James G.
Pettit, Chairman and CEO