Re: TODAYS UPDATE
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Welcome To The Cypress Development HUB On AGORACOM
Cypress Development Corp. is a Canadian gold and base metal exploration company developing projects in Red Lake, Ontario, Canada, and in Nevada, U.S.A.
Message: Re: TODAYS UPDATE
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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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Mon May 10, 2010 Rainy River Gold Drill Program Expanded to 20,000 Metres in NW Ontario |
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Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") is pleased to report that it has significantly expanded its Rainy River drill program. A minimum of 20,000 metres of diamond drilling will be completed by the Company on its Rainy River district gold properties. The drilling will focus on establishing gold continuity and grade at depths within the shell of a potential open pit mine. The objective of this drill program is to continue to explore and expand the extension and continuity of gold mineralization that is being delineated in the ODM17 and North Zones by Rainy River Resources (TSX-V: RR) on their ground adjacent to Bayfield's properties. Drilling will commence by mid-May on Bayfield's 100% owned Burns Block situated immediately to the east and on strike to Rainy River Resources' main ODM17 gold deposit. Additionally, a second drill rig is being contemplated for a drill program on the Company's 100% owned "B" Claim Block located immediately northeast of the Burns Block. Rainy River gold properties claims map: http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf The mineralization encountered to date on Bayfield's Burns and "B" Claim Block properties occurs in the same geological environment as that on the main ODM17 Zone of Rainy River Resources to the immediate west. Gold reserves on the Rainy River Resources property were reported on March 2, 2010 as 56,833,000 tonnes at 1.3 g/t gold indicated (2.37 million ounces) in addition to 68,930,000 tonnes at 1.2 g/t gold inferred (2.66 million ounces). These resources were arrived at using a 0.4 g/t gold cut off. To date, ten holes (totaling 4841 metres) have been drilled and reported on Bayfield's Burns Block. This drilling has confirmed the widespread distribution of gold within two litho-structural intervals directly on strike with the ODM17 Zone and North Zone of Rainy River Resources. Significant results from six of the holes drilled on the Burns Block include the following: • 4.5 metres of 7.34 g/t gold in hole NR08-283 • 43.5 metres of 0.78 g/t gold including 4.5 metres of 3.0 g/t gold in hole NR08-304 • 25 metres of 0.89 g/t gold in hole NR08-296 • 4.5 metres of 2.24 g/t gold in hole NR08-294 • 61.2 metres of 0.49 g/t gold including 7.5 metres of 1.77 g/t gold within 16.5 metres of 1.20 g/t gold in hole RR10-1 • 7.0 metres of 0.72 g/t gold, 1 metre of 4.83 g/t gold, and 1 metre of 9.51 g/t gold in hole RR10-3 Burns Block and "B" Claim Block map showing drill holes: http://www.bayfieldventures.com/i/maps/BYV-Burns-and-B-Block-Aerial.jpg Shallow intercepts reported by Bayfield Ventures along the strike extension of the ODM17 Zone of Rainy River Resources indicate that above gold cut off grade material (0.4 g/t) continues onto the Burns Block. The zones of mineralization occur in felsic metavolcanics within zones of stronger penetrative foliation. The foliation is near coincident with the strike and dip of the lithologies. Gold grade appears to be strongly influenced by proximity to the margins of strong sericitic alteration within the shear system. The zones strike at 120 degrees and dip at around 50 degrees to the southeast on the Burns Block property. A four hole drill program (1192 metres in total) was completed by Bayfield on its "B" Claim Block property back in 2008. All four holes encountered wide sections of elevated to strongly anomalous gold values. Mineralization on the "B" Claim Block was encountered in felsic pyroclastics flanking a strong north-south trending growth fault on the property. In particular, significant gold values were obtained in hole RR08-2 which intersected 5.7 g/t gold over 2 metres within a 21 metre thick zone containing elevated to strongly anomalous gold values. Bayfield Ventures has $4,000,000 in its treasury to carry out the proposed drilling on both its Burns and "B" Claim Block properties. David J. Busch, B.A., B.Sc., PGeo., Exploration Manager, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release. About Bayfield Ventures Corp. Bayfield Ventures Corp. is exploring for gold in the Rainy River and Red Lake districts of north-western Ontario. 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: Donald G. Myers Director Bayfield Ventures Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@bayfieldventures.com |
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