Exploring for Gold in the Rainy River and Red Lake districts of Northwestern Ontario
81m @ 5.08 g/t Gold, 28m @ 13.28 g/t Gold, 9m @ 12.88 g/t Gold, 46.6m @ 2.28 g/t Gold plus Bonanza grade Silver (up to 1760 g/t)
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Bayfield Ventures Corp.
Suite 2230 - 885 West Georgia Street
Vancouver, British Columbia
V6C 3E8
| TSX Trading Symbol: BYV Email: info@bayfieldventures.com |
Telephone: (604) 687-3376 Facsimile: (604) 687-3119 |
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Tue Sep 7, 2010 Bayfield Drills 35.93 g/t Au over 10.0m within 13.28 g/t Au over 28.0m in Rainy River, NW Ontario |
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Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") is pleased to announce an additional high grade gold discovery on its 100% owned Burns Block property in the Rainy River District of north-western Ontario. The Burns Block is situated immediately to the east and on strike to Rainy River Resources' (TSX-V: RR) gold project. Rainy River gold properties claims map: http://www.bayfieldventures.com/i/pdf/BYV-RR-Area-11x17.pdf Highlights: • Another significant high grade gold discovery early in 20,000+ metre (50+ holes) diamond drill program • 35.93 g/t gold over 10.0 metres within 13.28 g/t gold over 28.0 metres intersected in hole RR10-18 • The linear "plunge distance" between the high grade zone in the previously reported hole, RR10-15, and that in the newly reported hole, RR10-18, is in excess of 400 metres indicating a potential for a high grade gold shoot of considerable length • The map distance between the collars of RR10-15 and RR10-18 is approximately 125 metres; little drilling between the holes has been done • 13 additional holes completed; assays pending Drill hole RR10-18 has intersected high grade gold mineralization within the upper portion of a lapilli tuff unit from 488 metres to 516 metres down hole. The intercept totals 28.0 metres at 13.28 g/t gold and includes 10.0 metres of 35.93 g/t gold. The hole targeted the down-dip extension of the 283 Gold Zone in the southern portion of the Burns Block. The 283 Zone was initially discovered by Rainy River Resources in 2008 during their drill program on the Burns Block and is interpreted to be an eastward extension of Rainy River Resources' ODM17 Gold Zone (see Rainy River Resources' news release dated September 16, 2008: http://www.bayfieldventures.com/i/pdf/NR-RR-Burns.pdf). The Bayfield news release of August 18, 2010 reported the results from the first four holes in the current 20,000+ metre drill program, which were all drilled into the 283 Zone and all intersected gold. These results were highly encouraging and prompted Bayfield to do more drilling into the zone. The gold mineralization in RR10-18 continues to show that very high gold grades do occur within broad, mineralized envelopes. The best indication of this fact is that the very high grade 11 metre interval reported in hole RR10-18 is contained within 81 metres of altered volcanic rock grading 2.70 g/t gold. Bayfield has partially delineated two of these envelopes on the Burns Block, the 283 and West Gold Zones, and is currently in the initial stages with a second drill rig of exploring a similar zone of gold mineralization on its 100% owned "B" Block property immediately to the northeast of the Burns Block. Burns Block drilling exploration map: http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg Bayfield believes that the West and 283 Gold Zones are, in fact, the up-dip and down-dip extensions of a single, south dipping zone of gold mineralization. Additionally, the initial examination of the position and geologic setting of the high grade gold intercept in RR10-18 strongly suggests that this mineralization represents the down plunge extension of the mineralized 606 High Grade Zone in hole RR10-15 which intersected 31.71 g/t gold over 3.0 metres within 12.88 g/t gold over 9.0 metres (see Bayfield's news release of August 24, 2010). The linear distance between the shallow high grade zone in RR10-15 and the deeper high grade zone in RR10-18 reported here is in excess of 400 metres. The plotted geometry of the two intercepts strongly indicates that a high grade gold shoot of a size, thickness and grade similar to those being delineated by Rainy River Resources to the west has been found by Bayfield on the Burns Block. Infill drilling of the high grade shoot will commence as soon as the drill rig has completed a critically important fence of drill holes in the northern section of the Burns Block. This current fence of holes is exploring the up-dip portion of the West Gold Zone and has been slightly modified to also explore for the up-dip portion of the 606 High Grade Zone in hole RR10-15. Significant gold intercepts from the latest batch of assay results for holes RR10-17 and RR10-18 are listed in the table below. Hole RR10-17 was drilled from the same collar as RR10-18. Due to the flatter dip of hole RR10-17, the distance between it and hole RR10-18 is approximately 100 metres (EOH) in the area of the strong mineralization of RR10-18. This distance is important in putting the 250 ppb to 1100 ppb gold mineralization in RR10-17 in perspective. It appears that this low grade mineralization represents a portion of the mineralized envelope around the highly mineralized zone in hole RR10-18. DRILL HOLE DIP ° AZ. ° FROM (m) TO (m) INTERVAL (m) GOLD (g/t) GOLD ZONE RR10-17 75° 355° 350 364 14.0 Highly Anomalous #283 397 411 14.0 Highly Anomalous including 403 407 4.0 1.13 RR10-18 88° 355° 178 183 5.0 0.83 #283 488 569 81.0 2.70 including 488 516 28.0 13.28 including 490 491 1.0 4.43 including 497 507 10.0 35.93 (see below) including 542 553 11.0 2.01 including 545 546 1.0 15.60 * g/t gold = grams per metric tonne gold The following chart breaks down the 10.0 metre interval grading 35.93 g/t gold from 497 metres to 507 metres in hole RR10-18: DRILL HOLE DIP ° AZ. ° FROM (m) TO (m) INTERVAL (m) GOLD (g/t) GOLD ZONE RR10-18 88° 355° 497 507 10.0 35.93 #283 including 497 498 1.0 18.10 including 498 499 1.0 63.90 including 499 500 1.0 109.00 including 500 501 1.0 26.30 including 501 502 1.0 18.40 including 502 503 1.0 3.10 including 503 504 1.0 90.30 including 504 505 1.0 10.90 including 505 506 1.0 11.60 including 506 507 1.0 7.70 Hole RR10-18 was drilled to the north at an initial inclination of 88 degrees. The hole flattened to an inclination of 79 degrees towards the end of the hole at 550 metres. Based on the details of core logging of the gold zone in RR10-18, as well as logging results from surrounding holes, the true width of the 10.0 metre down hole interval grading 35.93 g/t gold is estimated to be 80% of true width. This estimate compares very well with the estimated 9.0 metre true width of the zone in hole RR10-15. Geologic Character of the High Grade Gold Zone Numerous fine grains (to 2 mm) of visible gold occur in the highest grade portions of the intersection. This mineralogical data, as in the high grade gold zone in RR10-15, strongly suggests that the intersection is not based on sporadic occurrence of very coarse gold but rather due to the presence of pervasive mineralization of microscopic to locally visible gold within the entire zone. The new gold zone contains moderate to abundant pyrite, sphalerite and intense sericite alteration of the lapilli tuff host rock. The sulfides occur as stringer veinlets and clots, typical of other mineralized zones in the Rainy River area. The zone is strongly deformed and contains scattered quartz veinlets. Fine grained grey sulfides up to 0.5% occur in the high grade interval. This mineral is tentatively identified as galena. Silver assays of the high grade portions of both holes RR10-15 and RR10-18 are currently being completed due to the very strong correlation of the presence of galena and silver values >100 ppm. Rainy River regional geology map: http://www.bayfieldventures.com/i/maps/Burns-B-Geology.jpg The mineralization is localized within the upper portion of a distinctive volcanic lapilli tuff unit within the dominantly intermediate to felsic volcanic rock sequence of the property. This consistent stratigraphic location of strong sericite alteration and abundant gold and sulfide mineralization was first recognized by Bayfield during the 2010 winter drill program at the Burns Block. The mineralization thus has a generally stratabound geometry. However, other crosscutting features, including intense foliation and the presence of quartz veinlets within the mineralized zones strongly suggest structural control of the ore zones, as is typical of the vast majority of gold deposits found in Archean aged rocks worldwide. Discussion of Assay Results Bayfield is in the process of studying all data from the strongly mineralized intercept in hole RR10-18. As was mentioned earlier, the position of the new intercept in RR10-18 relative to that in RR10-15 fits very well with the geometry of high grade gold shoots currently being delineated by Rainy River Resources immediately to the west of the Burns Block. It is very likely that the high grade zone intersected at depth in hole RR10-18 is the down plunge extension of the 606 High Grade Gold Zone. In both cases, the high grade gold mineralization occurs within large zones of more disseminated gold mineralization. Jim Pettit, CEO of Bayfield Ventures, stated: "We are elated to have hit another high grade gold intercept in only the 11th hole drilled in the current 50+ hole program. Bayfield continues to intersect gold zones on its Burns Block at both shallower and deeper depths. We are now more confident than ever that with continued drilling, a significant gold resource can be delineated on the Burns Block." Exploration Potential The discovery of additional high grade gold mineralization on the Burns Block property fully confirms Bayfield's earlier assessments of the exploration potential of the ground and that the mineralization at the Burns Block is the direct eastward extension of Rainy River Resources' adjacent ODM17 Gold Zone. The linear, down plunge, distance between the shallower high grade intercept in RR10-15 and the deeper high grade intercept in RR10-18 is in excess of 400 metres. A detailed, 3 dimensional, study of all drilling data in the area of the intercepts is underway in order to provide more data on the potential shape and possible connection of the high grade zones. This study will result in the identification of a series of drill locations designed to expand the high grade gold zones and to explore for the potential connection of them in a plunging gold shoot. Bayfield is still at a very early stage of exploration on both the Burns and the "B" Block properties. The Company has developed plans to continue to explore for the eastward strike expansion of mineralized zones at the Burns Block as well as to explore for higher grade gold zones throughout both properties. The plans at the Burns Block are being guided by the recognition of the importance of the upper portion of the distinctive lapilli tuff unit as described above. The structure strikes approximately east-west and dips south. This geometry bodes well for additional discoveries in the central and eastern portions of the Burns Block. The setting of the known gold mineralization at the "B" Block is currently being evaluated based on data from the initial pair of holes completed there. Bayfield feels that its current exploration method of drilling to establish the presence of lower grade gold envelopes followed by infill drilling to define higher grade gold zones is working well. This exploration method will be applied at both the Burns and the "B" Blocks as the exploration of both properties advances. 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 3,000 ppb (over limit). Screened total metallic assays are being performed on samples assaying over 5,000 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 41 million shares outstanding. 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 NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. |
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You can view the Previous News Releases item: Tue Aug 24, 2010, Bayfield Drills 31.71 g/t Au over 3.0m within 12.88 g/t Au over 9.0m in Rainy River, NW Ontario You can return to the main News Releases page, or press the Back button on your browser. |
<!-- <table width="100%"> <tr valign=top> <td align=left> <p align=center>THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. <p>This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various 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. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.</td> </tr> </table> -->
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