VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") is pleased to announce an additional significant gold and 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' multi-million ounce gold and silver deposit.
Rainy River Gold properties Claims Map:
- Far North Fence definition drilling continues to intercept wide zones of near surface gold and silver mineralization.
- Hole RR11-76 intercepted 34.50 metres of mineralization grading 0.56 g/t Au and 30.47 g/t Ag starting at 36.50 metres down hole and includes 1.0 metre grading 5.81 g/t Au and 773.00 g/t Ag.
- South Fence drilling continues to show mineralized zones including 33.50 metres of 1.10 g/t Au and 11.49 g/t Ag in hole RR11-61.
- Hole RR11-95 intercepted 14.50 metres of mineralization grading 0.65 g/t Au and 24.42 g/t Ag starting at 73.0 metres down hole. This intercept contains a high grade core of 5.10 metres grading 1.38 g/t Au and 33.30 g/t Ag.
- Central fence eastward step-out drilling results include 7.7 metres of 1.32 g/t Au and 4.02 g/t Ag in hole RR11-94.
- A new zone of near surface gold mineralization has been discovered in a widely spaced step-out hole RR11-131, 500 metres east of the western property boundary. The mineralization is in the hanging wall of the main zone and has returned 2.3 metres of 1.11 g/t Au.
3D Video of Bayfield's Burns Block Drilling:
Discussion of Current Results:
Infill and eastward exploration drilling on the Far North Fence has continued to show a locally well mineralized shear zone at near surface levels. In some cases, mineralization commences immediately under glacial till cover. The pattern of strong gold and silver mineralization being associated in intervals of mm-scale cracks filled with sulfides and electrum is continuing. These cracks are dominantly oriented at low to sub parallel angles to the core axis. This geometry strongly suggests that late and potentially north-south oriented fractures were a primary location for deposition of high grade mineralization at the Burns Block.
The new discovery of gold mineralization within sericite altered zones in the hanging wall of the main zone on the north-central portion of the property is an important development. There has been no previous drilling on this area of the Burns Block which is about 500 metres to the east of the western border. Hole RR11-131 intercepted four distinct mineralized zones commencing at 12.50 metres down hole. This mineralization looks very similar to the typical main zone mineralization as it contains dark brown sphalerite and locally abundant galena as well as local smears of electrum. The near surface nature of these new mineralized intervals is very encouraging and a detailed plan for follow-up drilling and surface sampling is now being developed. Notably, hole RR11-131 lies approximately 100 metres west of the area of multi-gram gold mineralization in surface samples previously reported last fall.
Updated Burns Block Drilling Exploration Map:
Current Gold and Silver Assay Results:
|Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||AuEq (g/t)||Drill Fence|
|RR11-65||32.00||42.40||10.40||0.18||8.30||0.36||Far North Fence|
|RR11-66||33.50||35.00||1.50||0.13||13.70||0.43||Far North Fence|
|RR11-69||30.50||54.50||24.00||0.41||22.10||0.90||Far North Fence|
|RR11-72||75.50||107.00||31.50||0.25||8.16||0.43||Far North Fence|
|RR11-74||32.00||51.50||19.50||0.45||8.90||0.65||Far North Fence|
|RR11-76||24.50||26.00||1.50||0.40||13.80||0.71||Far North Fence|
|RR11-85||34.50||39.00||4.50||0.27||2.87||0.33||Far North Fence|
|RR11-86||20.00||21.50||1.50||0.24||5.50||0.36||Far North Fence|
|RR11-88||29.00||30.50||1.50||0.17||26.50||0.76||Far North Fence|
|RR11-89||23.00||24.50||1.50||0.95||46.50||1.98||Far North Fence|
|RR11-90||38.00||45.50||7.50||0.28||7.82||0.45||Far North Fence|
|RR11-95||57.50||60.50||3.00||0.16||15.85||0.51||Far North Fence|
|RR11-96||59.00||60.50||1.50||0.14||21.00||0.61||Far North Fence|
|RR11-97||26.00||27.50||1.50||0.98||0.50||0.99||Far North Fence|
|RR11-99||57.50||65.00||7.50||0.38||15.60||0.73||Far North Fence|
|RR11-100||45.50||51.50||6.00||0.18||12.88||0.47||Far North Fence|
|RR11-101||53.00||54.50||1.50||0.34||3.30||0.41||Far North Fence|
|RR11-92||No Significant Value||Central Fence|
|RR11-102||No Significant Value||North Fence|
|RR11-103||No Significant Value||North Fence|
* 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 is currently restarting the drilling of the Burns Block following a three week shutdown to allow assay data to catch up with the drill program. Two components will be the focus of the continuing program in which about 40,000 metres remained to be drilled. The first is the continued exploration and definition drilling of near surface mineralization in the northwest portion of the Burns Block including any new drill targets that develop as assay results continue to stream in.
The second part of the exploration will focus on the area around and to the east of hole RR11-131 as it appears a new area of near surface mineralization is present based on the results of both recent drilling and the surface sample assay results reported late in 2010. This exploration work will involve both additional shallow drilling as well as surface channel sampling using a portable rock saw.
Cross Section of Drilling on Burns Block Looking East:
Contracting of an additional diamond drill rig to conduct reconnaissance exploration on Bayfield's 1,977 acre, 100% owned "C" Block to the west is being planned. The "C" Block is strategically positioned along the western extension of the Rainy River gold district and covers similar lithologies and structures to those hosting Rainy River Resources' main gold zones. No diamond drilling has been carried out yet on the property but previous ground work and geophysical surveys indicate that the "C" Block has the potential to host significant gold and silver mineralization. Ground conditions will be the deciding factor in whether this exploration can be commenced this fall or whether it will have to wait until freeze-up in early 2012.
Airborne Cesium Magnetic Survey of "C" Block:
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 62.2 million shares outstanding and approximately $7 million in its treasury.
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.
For further information on Bayfield Ventures Corp. (TSX VENTURE:BYV), visit the Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, Chairman and CEO
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.
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