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Vancouver, BC, Apr 23, 2013 - (ACN Newswire) - Bayfield Ventures Corp. (TSX-V: BYV) (OTC Pink: BYVVF) (Frankfurt: B4N) is pleased to announce additional assays from the continuing exploration of its 100% owned Burns Block and "B" Block gold-silver projects. The Company's Burns and "B" Blocks are located in the Rainy River District of north-western Ontario and are ideally situated adjacent to the east of Rainy River Resources' (TSX: RR) main multi-million ounce gold-silver deposit and to the west of their expanding Intrepid gold-silver zone.
Rainy River District Gold Zones:
http://www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg
This news release reports highlights from twelve drill holes completed during our ongoing 2013 drill exploration program on the Burns and "B" Block properties. Drilling is continuing on the Burns Block.
The assay and geologic results presented here come from work in three distinct target areas: down-dip extension drilling of the developing, high-grade East Burns-Intrepid Zone, up-dip extension drilling of the East Burns-Intrepid Zone, and wide spaced drilling of our highly prospective 480 acre "B" Block property. The "B" Block is located directly north of the near-surface portion of Rainy River Resources' newly discovered Intrepid Zone.
East Burns - Intrepid Zone Down-Dip Extension Highlights:
-- Drill Hole RR13-7 intersected a down hole interval of 22.90 metres grading 8.10 g/t gold and 20.55 g/t silver including 11.00 metres of 12.19 g/t gold and 30.05 g/t silver. This interval commences at 615 metres down hole.
-- This interval of very well developed gold and silver mineralization occurs within a 57.0 metre wide zone of strong alteration and mineralization from 596.00 to 653.00 metres down hole.
-- The lower portion of this wider zone returned 7.50 metres of 2.27 g/t gold and 20.50 g/t silver including 3.00 metres of 5.36 g/t gold and 50.60 g/t silver.
-- This lower mineralized interval appears to represent a new footwall discovery below the main East Burns - Intrepid zone.
East Burns - Intrepid Zone Up-Dip Extension Highlights:
-- Four holes have been completed near the northeast corner of the Burns Block.
-- Strong sericite alteration of quartz porphyry dacites seen under 100 metres of capping mafic volcanic.
-- Hole RR13-3 returned 3.00 metres of 2.98 g/t gold and 11.00 g/t silver starting a depth of 308 metres below surface.
Discussion of East Burns - Intrepid Zone Down-Dip Extension Hole RR13-7:
The East Burns - Intrepid Zone down-dip extension hole RR13-7 intersected a 57 metre wide interval of strong sericite-silica alteration that contains three distinct zones of gold-silver mineralization in a position 20 metres south of hole RR12-12 and 20 metres east of hole RR12-30, both of which contain previously reported high-grade gold-silver intercepts.
The best of the three mineralized zones in RR13-7 is the central one that is the targeted main strand of the developing East Burns - Intrepid Zone. Gold-silver mineralization within this main 22.90 metre down hole interval is dominated by native gold fracture fills and associated pin point disseminations of native gold and electrum. These occurrences are found both in association with distinct cross cutting veins and veinlets and within more irregular shaped patches of strong silica flooding of a quartz eye dacite porphyry host rock.
The high-grade zone is also strongly mineralized by veinlets, fracture fills and clotty disseminations of dark red/brown sphalerite, galena, chalcopyrite and arsenopyrite. The host rock, alteration, base metal mineralization and style of precious metal mineralization have remained remarkably consistent from our late 2011 discovery hole, RR11-205, near the east boundary to the current extension drilling area approximately 220 metres to the southwest.
When combined with the 200+ metres of vertical extent of the mineralization discovered at East Burns to date, the apparent continuity of geologic characteristics and gold-silver assay results is highly encouraging and compares well with current descriptions of the deeper portions of Rainy Rivers' Intrepid Zone, located immediately east of the Burns Block property boundary. Bayfield is continuing the drilling of the southwest extension area of the East Burns - Intrepid Zone.
Burns Block Drill Hole Location Map:
http://bit.ly/vZS3fi
Drilling Highlights from Drill Hole RR13-7 Burns Block Exploration:
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AuEq Drill
Drill Hole From (m) To (m) Interval (m) Au (g/t) Ag (g/t) (g/t) Fence
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RR13-7 596.00 609.00 13.00 1.37 6.20 1.49 Eastern
including 608.00 609.00 1.00 12.10 63.90 13.38 Zone
615.10 638.00 22.90 8.10 20.55 8.51
including 616.20 628.10 11.90 12.19 30.05 12.79
645.50 653.00 7.50 2.27 22.50 2.72
including 650.00 653.00 3.00 5.36 50.60 6.37
----------------------------------------------------------------------------
* g/t = grams per metric tonne
* The down hole interval lengths are estimated to be approximately 55%-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
"B" Block Reconnaissance and Follow-up Drilling Highlights:
-- Dill Hole B13-1, located in the south-central portion of the "B" Block property intersected a down hole interval of 15.00 metres grading 0.46 g/t gold and 10.55 g/t silver. This interval commences at 248 metres down hole.
-- This low grade but consistently mineralized interval is terminated at its lower contact by a gouged fault zone, indicating a very strong probability that the mineralization has been offset by the fault.
-- A shallow zone in hole B13-1, commencing at 104 metres down hole, returned 19.50 metres grading 0.30 g/t gold and 3.16 g/t silver from a strongly sheared, sphalerite rich interval in the host dacite wall rocks.
-- Hole B13-4 intersected 1.05 metres of 3.06 g/t gold and 29.90 g/t silver in the south-central "B" Block well away from other exploration drilling.
-- The sericite alteration, base metal mineralization and strong foliation within these quartz porphyry dacite hosted, low-grade mineralized intervals is essentially identical to that seen across Bayfield's nearby Burns Block property.
-- Focused drilling in and around well altered and foliated quartz porphyry dacites containing lower grade gold-silver-base metal mineralization at Burns Block has proven to be the most effective method of finding much higher grade zones.
Discussion of Six Drill Holes Completed on "B" Block Property:
The 480 acre "B" Block is positioned directly north of the near surface portion of Rainy River Resources' Intrepid Zone. Published geologic mapping by the Ontario Division of Mines (Blackburn, 1971) combined with results of past drilling completed by Bayfield Ventures has clearly shown that the main Rainy River District gold-silver host rock, the Archean age quartz porphyry dacites, pass directly through the "B" Block property covering a strike length of approximately 1.5 kilometres on the "B" Block. Prior to the recent winter 2013 drill program on the property, a total of 23 holes had been completed, only seven of which passed below 250 metres in vertical depth.
The known geologic characteristics along with mineralized intervals returned from previous, wide spaced drilling at the "B" Block indicate excellent exploration potential of this 1.5 kilometre extension of the known Rainy River Gold District.
Bayfield's recently completed drill program consists of six additional holes designed to follow-up previously reported, near-surface mineralization in hole B12-6 (19.5 metres of 0.55 g/t AuEq) and to test certain early stage targets on the property.
Drill Hole B13-1 intercepted two significant intervals of precious and base metal mineralization in a position approximately 45 metres northeast of the previously reported intercept in hole B12-6. These intervals are hosted by sericite-silica altered quartz porphyry dacites and are accompanied by poly metallic base metal mineralization very similar to lower grade mineralized intervals found in both the western and eastern portions of Bayfield's Burns Block.
The lower contact of the lower and best developed mineralized zone in hole B13-1 is terminated by a gouged fault zone that appears to have offset the mineralization. Additional exploration drilling within the 1.5 kilometre long belt of foliated and altered dacites "B" Block is being planned. In particular, targeting is underway for a series of deeper holes designed to begin the exploration of the area down-dip of the low-grade but consistently mineralized zone indicated by the results of holes B12-6 and B13-1.
All Drilling Results from Burns Block & "B" Block Exploration:
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AuEq Drill
Drill Hole From (m) To (m) Interval (m) Au (g/t) Ag (g/t) (g/t) Fence
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RR12-36 423.50 426.00 2.50 0.70 4.50 0.79 Eastern
723.50 725.00 1.50 0.48 2.50 0.53 Zone
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RR13-1 225.50 230.00 4.50 0.28 9.20 0.47 NE Zone
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RR13-2 286.00 289.00 3.00 0.76 43.70 1.63 NE Zone
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RR13-3 5.50 6.50 1.00 0.36 6.30 0.49 NE Zone
260.00 261.50 1.50 0.63 1.90 0.67
281.00 288.50 7.50 0.57 9.39 0.76
308.00 311.00 3.00 2.98 11.00 3.20
including 308.00 309.50 1.50 5.00 12.10 5.24
----------------------------------------------------------------------------
RR13-4 216.50 217.10 0.60 0.96 14.50 1.25 NE Zone
224.70 226.00 1.30 0.61 17.98 0.97
237.50 243.50 6.00 0.62 16.78 0.96
including 240.50 242.00 1.50 1.60 33.60 2.27
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RR13-5 NSA NE Zone
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RR13-6 138.50 140.00 1.50 0.38 1.80 0.42 Eastern
383.20 384.00 0.80 0.46 27.20 1.00 Zone
701.00 714.50 13.50 0.36 2.35 0.40
including 701.00 702.50 1.50 1.64 0.60 1.65
748.60 749.60 1.00 0.82 2.90 0.88
770.00 771.50 1.50 0.29 4.60 0.38
786.50 787.20 0.70 0.32 8.30 0.49
797.00 798.50 1.50 0.38 0.40 0.39
----------------------------------------------------------------------------
RR13-7 596.00 609.00 13.00 1.37 6.20 1.49 Eastern
including 608.00 609.00 1.00 12.10 63.90 13.38 Zone
615.10 638.00 22.90 8.10 20.55 8.51
including 616.20 628.10 11.90 12.19 30.05 12.79
645.50 653.00 7.50 2.27 22.50 2.72
including 650.00 653.00 3.00 5.36 50.60 6.37
----------------------------------------------------------------------------
B13-1 104.00 123.50 19.50 0.30 3.16 0.37 B Block
150.30 153.50 3.20 0.34 2.50 0.39
248.00 263.00 15.00 0.46 10.17 0.66
including 249.50 251.00 1.50 1.03 12.80 1.29
----------------------------------------------------------------------------
B13-2 NSA B Block
----------------------------------------------------------------------------
B13-3 98.00 99.50 1.50 0.41 2.60 0.46 B Block
240.50 242.00 1.50 0.38 8.60 0.55
245.00 246.50 1.50 0.27 3.70 0.34
252.50 255.50 3.00 0.66 13.55 0.93
including 252.50 254.00 1.50 1.10 17.40 1.45
----------------------------------------------------------------------------
B13-4 156.05 157.10 1.05 3.06 29.90 3.66 B Block
179.00 180.50 1.50 0.19 9.50 0.38
230.00 231.50 1.50 0.27 5.00 0.37
269.00 272.00 3.00 0.32 4.50 0.41
357.50 359.00 1.50 0.45 3.80 0.53
----------------------------------------------------------------------------
B13-5 80.00 81.00 1.00 0.38 1.30 0.41 B Block
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B13-6 NSA B Block
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* g/t = grams per metric tonne
* The down hole interval lengths are estimated to be approximately 55%-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
Quality Assurance:
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-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: +1-604-687-3376
Toll Free: +1-800-567-8181
Facsimile: +1-604-687-3119
Email: info@bayfieldventures.com
Other Contact:
Envoy Strategic Partners Investor Relations
Jay Bedard
Telephone: +1-416-977-7778
Email: jay@envoystrategicpartners.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.
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.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Bayfield Ventures Corp. via Thomson Reuters ONE
Topic: Press release summary
Source: Bayfield Ventures Corp.
Sectors: Metals & Mining
https://www.acnnewswire.com
From the Asia Corporate News Network
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