Bayfield Drills 15.0m of 11.06 g/t Gold and 57.05 g/t Silver in Rainy River, NW Ontario
January 10, 2013 (Source: Marketwire) — Bayfield Ventures Corp. (TSX VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) is pleased to announce additional assays from the continuing exploration of its 100% owned Burns Block gold-silver project. The Company’s Burns Block project is located in the Rainy River District of north-western Ontario and is ideally situated adjacent to the east of Rainy River Resources’ main multi-million ounce gold-silver deposit and to the west of their expanding Intrepid gold-silver zone.
This news release reports assay results from the East Burns – Intrepid Zone step out and wedge holes RR12-34W1, RR12-35 and RR12-35W1. Holes RR12-34W1 and RR12-35W1 are both wedge holes designed to extend mineralization intercepted in holes RR12-34 (see news release Nov. 20th) and RR12-35 (reported here).
East Burns – Intrepid Zone Highlights:
- Hole RR12-34W1 intersected 25.50 metres grading 6.60 g/t Au and 34.20 g/t Ag including 15.00 metres of 11.06 g/t Au and 57.05 g/t Ag.
- The combination of results from holes RR12-34W1 and RR12-35 continue to show that the down plunge extension of the East Burns – Intrepid Zone mineralized zone continues to the southwest on the Burns property.
- The approx. 15 metre offset distance between holes RR12-34 and RR12-34W1 shows that continuity of the >10 g/t gold mineralization is excellent.
- The assay results of hole RR12-35 indicate that four distinct zones of gold and silver mineralization exist in the eastern portion of the Burns property. A 1.5 metre assay of 196 g/t Ag was returned from one of the shallow zones in this hole.
- Further southwest step out drilling of the East Burns – Intrepid high-grade zone is planned for winter/spring 2013.
- Additional exploration targets for the other known mineralized zones at the East Burns – Intrepid Zone are being prioritized for drilling in spring 2013.
Discussion of East Burns – Intrepid Holes RR12-34W1, RR12-35 and RR12-35W1:
Wedge hole RR12-34W1 intersected a strong interval of gold and silver mineralization in a position approximately 15 metres above the previously reported high-grade zone in hole RR12-34 which returned 26.50m of 8.82 g/t Au and 39.44 g/t Ag. Hole RR12-34W1 intersected a down hole interval of 25.50 metres grading 6.60 g/t Au and 34.20 g/t Ag including 15.00 metres of 11.06 g/t Au and 57.05 g/t Ag.
The success of the RR12-34W1 wedge hole off the RR12-34 mother hole is encouraging as it clearly demonstrates the strong continuity of the high-grade gold and silver mineralization currently being discovered in the down plunge exploration effort by Bayfield on the eastern portion of the Burns property.
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The high grade mineralization in holes RR12-34 and RR12-34W1 consists of complex base metal veining and breccia matrix infill. Very fine, pin prick gold and electrum disseminations occur over metre-scale intervals. Local much coarser visible gold is seen as crack infilling and within the selvages of quartz carbonate and chalcopyrite veinlets. Arsenopyrite is much more abundant within the high-grade intervals relative to that in the surrounding lower grade envelope.
In addition to the success of the wedging program, hole RR12-35 was collared 50 metres southwest and down plunge of hole RR12-34. Hole RR12-35 was successful in extending the known multi-gram gold mineralization further down plunge at the developing East Burns – Intrepid Zone mineralized shoot (see included assay table).
East Burns Expansion Drilling Summary:
Holes RR12-34W1, RR12-35 and RR12-35W1 were all drilled as down plunge exploration holes southwest of the high-grade discovery holes previously reported in holes RR12-12 and RR12-30. The use of wedges in holes RR12-34 and RR12-35 was done to more precisely target extensions to the known mineralization within the southwest plunging, East Burns – Intrepid gold-silver mineralized zone. Bayfield has now extended the strike length of the expanding zone to >250 metres. The deeper, down plunge 150 metre portion of this zone continues to show a trend of increasing grade with depth as well as notable continuity of mineralization grading over 10 g/t gold and 50 g/t silver.
Hole RR12-34W1 was wedged off the RR12-34 mother hole at a down hole depth of 518.8 metres and intersected a well developed zone of gold-silver-electrum-sphalerite-galena-chalcopyrite mineralization over a 25.5 metre down hole interval commencing at approximately 642.5 metres. This mineralization is located approximately 15 metres above that in hole RR12-34 and approximately 60 metres down plunge of similar mineralization intersected in previously reported hole RR12-30 which returned 19.60m of 5.45 g/t Au and 20.63 g/t Ag. Multi-millimetre crack fills and blebs of gold and electrum were logged associated with quartz carbonate and chalcopyrite veinlets in the down hole interval in RR12-34W1 from 650.45 to 664.25 metres.
Hole RR12-35 was collared 50 metres southwest of holes RR12-34 and RR12-34W1 as a down plunge exploratory step-out hole. The assay results of hole RR12-35 are interesting as they show four distinct zones of multi-gram gold and silver mineralization. The second of these zones commences at 323.2 metres down hole and returned 3.80 metres of 2.65 g/t AuEq. This relatively shallow mineralization has been seen in several holes in the eastern area of the Burns Block and is beginning to outline another high quality target hosted within highly garnet-magnetite-sulfide altered mafic volcanic rocks. Gold assays of >10 g/t and silver assays to >150 g/t have been found in this mafic volcanic unit which is known to strike across the entire Burns property.
|*||g/t = grams per metric tonne|
|*||The down hole interval lengths are estimated to be approximately 60%-65% of true width|
|*||AuEq (gold equivalent) values calculated at a 50 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|
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, 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 is fully funded to finish its planned 100,000 metre diamond drill program with drilling concentrated on the flagship Burns Block Project.
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.
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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