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.
Thu Jan 19, 2012 Bayfield Expands Rainy River Exploration Program with Drilling Commencing on "C" & "B" Block Properties
Vancouver, BC - Bayfield Ventures Corp.(TSX-V: BYV) (FWB: B4N)(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' (TSX: RR) 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.
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:
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:
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 structures 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.
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.
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.
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.
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 view the Next News Releases item: Mon Jan 23, 2012, Bayfield Discovers Multi-Gram Gold in New Far East Zone on Burns Block in Rainy River, NW Ontario
You can view the Previous News Releases item: Mon Dec 12, 2011, Bayfield Reports 7.2m of 656.88 g/t Ag in Rainy River, North-western Ontario
You can return to the main News Releases page, or press the Back button on your browser.