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.
Tue Dec 14, 2010 Bayfield Drills 89.96 g/t Gold over 1.1m within 46.6m of 2.28 g/t Gold 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.
- Significant High Grade Intercept: 89.96 g/t Au over 1.1m and 9.52 g/t Au over 10.6m, all within 46.6m of 2.28 g/t Au
- Continued Delineation of High Grade Target: Hole RR10-52 was collared 50m NNE of high grade hole RR10-18 and 75m SSW of hole RR10-15
- Higher Grade as well as Lower Grade, Bulk Tonnage Gold Mineralization on Burns: gold intercepts reported on Burns Block continue to define eastern extension of Rainy River Resource's main ODM17 gold zone
- Newly Discovered Zone Below 1000 Metres: deep drilling intersects three distinct foliation/alteration zones on Burns Block; assays pending.
- A VTEM and high sensitivity Cesium Magnetic Survey will be flown over Burns, "B" and "C" Blocks
Discussion of High Grade Results from Hole RR10-52:
Hole RR10-52 was collared 50 metres north-northeast of high grade hole RR10-18 and 75 metres south-southwest of hole RR10-15. High grade gold mineralization was intersected in RR10-52 from 402.4 metres to 403.5 metres down hole. The position of this mineralized zone lines up well with the interpreted 400 metre linear plunge distance of gold mineralization between holes RR10-15 and RR10-18. Drilling and delineation of this target area is continuing.
A 1.1 metre interval of high grade gold mineralization is centered on a series of calcite/quartz veins and veinlets containing numerous showings of visible gold. Accessory minerals include abundant sphalerite as well as pyrite stringer veinlets and fracture fills along with mm-scale veinlets of bladed galena inter-grown with other unidentified fine grey to brownish black sulfides. The veins and veinlets containing the visible gold are generally coplanar with intense foliation developed in the quartz eye dacite volcanic wall rocks.
DRILL HOLE AZ. ° DIP ° FROM (m) TO (m) INTERVAL (m) GOLD (g/t) GOLD ZONE
RR10-52 358 88 394.0 452.0 58.0 1.84 283 Zone
including 402.4 449.0 46.6 2.28
and 402.4 413.0 10.6 9.52
and 402.4 403.5 1.1 89.96
* g/t = grams per metric tonne
* Mineralized intervals in table above are estimated to be 75% of true width
Deep Hole RR10-51 Target Details and Initial Geologic Results:
Hole RR10-51 has been drilled in the southwest portion of the Burns Block to a depth of 1223 metres. The purpose of the hole is to explore for the continuation of a 17 metre thick zone of gold mineralization intersected in hole RR10-3 during Bayfield's three hole winter 2010 drill program (see news release dated March 3, 2010). The zone occurs well below the main extension of the ODM17 gold mineralization onto the Burns Block and is thought to potentially represent the down dip continuation of Rainy River Resources' 433 gold zone.
Initial logging results from hole RR10-51 show the presence of three distinct zones of strong foliation, sericite/silica alteration and sulfide mineralization of dacite to rhyolite volcanic host rocks. The upper of the three zones lines up with the well established 283 Zone (i.e. the eastward extension of the main ODM17 gold zone). The middle zone is likely the down dip target of the 433 gold zone mentioned above. The third zone intersected below 1000 metres is entirely new as no hole has ever been drilled to these depths on the Burns Block. Sampling of the newly discovered lower zone is underway and all assays from the hole are pending.
Hole RR10-51 has been drilled as a pure exploration hole. It is anticipated that 3 to 6 additional deep holes will be completed over the next several months to test the potential down dip extension of the 433 zone as well as the newly discovered deeper zone below 1000 metres.
VTEM and Cesium Magnetic Survey:
Bayfield has 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 will be flown in the survey. The data will be 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 fault intersections as may be identified in the acquired data. The survey is to commence immediately.
Bayfield is still at an early stage of exploration on its Rainy River properties with approximately 25,000 metres of drilling completed out of the planned 50,000+ metre drill program. Results are still pending for several holes.
Jim Pettit, CEO of Bayfield Ventures, stated: "We are very excited with the results from hole RR10-52 as they have confirmed the continuity of the high grade gold zone discovered between RR10-18 and RR10-15. The current drill program is successfully delineating lower grade, bulk tonnage gold mineralization as well as higher grade zones with drill results right on par with Rainy River Resources'. With drilling slated to continue well into next year, the Company is confident it can continue defining the gold system on the Burns Block both near surface and at depth."
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 $7.5 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
James G. Pettit
Chairman and CEO
For further information contact myself or:
Bayfield Ventures Corp.
Toll Free: 800-567-8181
Envoy Strategic Partners Investor Relations
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
You can view the Next News Releases item: Thu Jan 20, 2011, Drilling Resumes in Rainy River, NW Ontario, Sampling, VTEM Survey, and Drill Results Announced
You can view the Previous News Releases item: Wed Dec 1, 2010, Rainy River Drilling Intersects 4m of 6.17 g/t Au within 21m of 1.53 g/t Au
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