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Vancouver, BC, Oct 11, 2012 - (ACN Newswire) - Bayfield Ventures Corp.(TSX-V: BYV) (OTC Pink: BYVVF) (Frankfurt: B4N) (the "Company") is pleased to announce additional high grade assay results from the continuing exploration of the east side of the Burns Block. The Company's 100% owned Burns Block gold-silver project is located in the Rainy River District of north-western Ontario and is situated adjacent to the east and on strike to Rainy River Resources' (TSX: RR) multi-million ounce gold-silver deposit.
Rainy River District Gold Zones:
http://www.bayfieldventures.com/i/pdf/RR-Gold-Zones.pdf
This news release reports assays from the East Burns Block step out hole RR12-30 which intersected a strong interval of gold and silver mineralization in a position approximately 20 metres down dip from previously reported hole RR12-12 (13.5 metres of 5.13 g/t Au and 25.21 g/t Ag). Hole RR12-30 intersected a down hole interval of 19.60 metres grading 5.45 g/t Au and 20.63 g/t Ag including 11.80 metres of 8.57 g/t Au and 30.87 g/t Ag. This intercept represents the highest grade gold mineralization encountered at the East Burns area by Bayfield to date and further extends the eastern mineralized zone down plunge from previous drilling. This southwest plunging higher grade zone remains open down dip from the intercept in hole RR12-30 and the Company is actively drilling this expanding zone at depth.
Updated Burns Block Drill Hole Location Map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Feb_2012.jpg
East Burns Highlights:
-- Hole RR12-30 intersects 19.60 metres grading 5.45 g/t Au and 20.63 g/t Ag including 11.80 metres of 8.57 g/t Au and 30.87 g/t Ag.
-- This intercept represents the highest grade gold mineralization encountered at the East Burns area by Bayfield to date.
-- Eastern higher grade mineralized zone remains open down plunge to the southwest with more drilling planned to test the zone at depth.
-- Exploration in the East Burns area has been very active in the late summer with drilling on both sides of the Bayfield - Rainy River Resources property line.
-- Mineralization is being found within a 50 to 70 metre wide zone of shearing, sericite-silica alteration and polymetallic base metal sulfide mineralization.
Eastern Burns Block Exploration/Delineation Discussion:
The results from hole RR12-30 expand the down plunge extension of the East Burns mineralized zone a further 20 metres from previously reported drill hole RR12-12. The mineralized zone is associated with discontinuous quartz-carbonate-galena-chalcopyrite veinlet swarms with accompanying visible gold and silver smears and crack infillings. The logged vein textures and mineral assemblage are very similar to that seen in the high grade hole RR11-71 area located in the north-west portion of the Burns property.
Assay Results from Hole RR12-30:
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Drill Hole From(m) To(m) Interval(m) Au(g/t) Ag(g/t) AuEq(g/t) Drill Fence
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RR12-30 287.00 288.50 1.50 0.87 2.50 0.92 Eastern Zone
307.60 308.60 1.00 0.99 1.20 1.01
602.00 603.50 1.50 0.34 14.50 0.63
615.50 635.10 19.60 5.45 20.63 5.86
including 615.50 632.30 16.80 6.26 23.09 6.72
including 615.50 627.30 11.80 8.57 30.87 9.19
including 620.00 627.30 7.30 13.46 46.55 14.39
including 626.40 627.30 0.90 75.50 172.00 78.94
639.50 641.00 1.50 0.45 3.20 0.51
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* g/t = grams per metric tonne
* The down hole interval lengths are estimated to be approximately 50%-60% 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
Investor Relations Contract with MI3 Communications Financieres Inc.:
In other news, Bayfield announces that it has entered into a Financial Public Relations Service Agreement (the "Agreement") with Montreal based MI3 Communications Financieres Inc. MI3 provides Investor Relations and related corporate communications services to public companies in Canada and the activities to be provided will be to assist the Company in increasing its visibility in the financial marketplace and expand its coverage within financial networks. The Agreement has an initial term of 12 months until August 8, 2013. In consideration for the provision of the services to be provided, MI3 will be paid $2,000 per month, plus applicable taxes. Bayfield will also grant MI3 up to a maximum of 300,000 incentive stock options at an exercise price of $0.55 per share for a period of two years which will be subject to vesting requirements as set out by the policies of the TSX Venture Exchange. The Agreement is subject to acceptance of the TSX Venture Exchange.
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. The Company has 70.3 million shares outstanding and has approximately $3.5 million in its treasury.
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.
https://www.acnnewswire.com
From the Asia Corporate News Network
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