Bayfield Ventures Corp.
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Bayfield Ventures Corp.

October 03, 2012 09:01 ET

Bayfield Announces Additional Burns Block Drill Results in the Rainy River District, NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 3, 2012) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (OTCBB:BYVVF) (FRANKFURT:B4N) (the "Company") is pleased to announce additional assays from the continuing exploration 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' multi-million ounce gold-silver deposit.

Rainy River District Gold Zones: http://www.bayfieldventures.com/i/pdf/RR-Gold-Zones.pdf

This news release covers the results from exploration and infill drilling in both the western and eastern portions of the Burns Block property. The assay results of four additional infill holes at the recently discovered East Burns gold-silver zone are reported here along with seven holes drilled in the northwest portion of the property in the area around the near surface, high grade discovery hole RR11-71 which intersected 26.70 g/t Au and 170.69 g/t Ag over 25.50 metres.

The first of the West Burns holes reported here is RR12-23 which was designed to test the immediate up dip extension of the shallow, high grade zone discovered in hole RR11-71 and then carry on to test the deeper mineralized zone discovered in previously reported hole RR10-3. Bayfield has long interpreted that the deeper, multi-gram gold mineralization intersected in RR10-3 lies within the eastern extension of Rainy River Resources 433 Zone. The easterly extension of this robustly mineralized zone onto Bayfield's Burns Block has only been drill tested with a few holes thus far.

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. The East Burns gold-silver zone is a shear hosted, SW plunging gold-silver-zinc-lead zone that is likely separate and underlying compared to similar mineralized zones intersected in the western portion of the property. Bayfield is continuing to explore the down plunge extension of the East Burns Zone which remains open at depth.

West Burns Highlights:

  • Vertical hole RR12-26 intersects 5.5 metres of 10.39 g/t Au and 191.32 g/t Ag from a collar position 30 metres north of hole RR11-71. This is an approximate 10 metres up dip extension to the bonanza zone in RR11-71 and the mineralization starts at just 30.5 metres below surface.
  • Vertical hole RR12-27 intersects 29.0 metres of 1.12 g/t Au and 19.55 g/t Ag from a collar position 30 metres NNE of RR11-71. This mineralization appears to be a new zone which underlies the high grade gold and silver zone in RR11-71
  • Vertical hole RR12-28 intercepted 16.0 metres of 0.66 g/t Au and 31.45 g/t Ag (1.29 g/t AuEq) and 16.0 metres of 0.65 g/t Au and 15.38 g/t Ag (0.96 g/t AuEq) both within 122 metres of surface in a position 15 to 20 metres down dip of RR11-71.
  • Hole RR12-23 intersected the immediate up dip extension of the RR11-71 high grade zone and then was continued to a final depth of 836 metres to explore the 433 Zone in a position 100 metres up dip and 70 metres east of the multi-gram gold drill intervals in hole RR10-3.
  • Zinc and lead over limit assays from the twinned bonanza zone in RR12-23 are pending.
  • Porphyry style quartz and quartz-carbonate veinlet swarms cutting highly porphyritic dacites deep in RR12-23 are locally gold-copper mineralized.

West Burns Block Exploration/Delineation Discussion:

RR12-23 was drilled with HQ core through the immediate up plunge extension of the bonanza gold-silver zone in hole RR11-71. The purpose for this was to obtain larger core for detailed structural and mineralogical analysis as well as to have a larger sample for gravity recovery tests on the very high grade gold and silver mineralization. Hole RR12-23 was continued to depth to test the 433 exploration horizon in a 100 metre step out from previous drilling. Following completion of RR12-23, another six shallow holes where drilled in the vicinity of RR11-71. The results of this drilling are included in the assay table in this news release.

Structural observations made from the detailed logging of the HQ core in the bonanza zone include the following summary points:

  1. The bonanza grade mineralization is hosted by brecciated dacites that are associated with both dark sphalerite and quartz carbonate veinlet swarms.
  2. The veinlet swarms are deformed by cm-scale folding. These small scale folds have pointed terminations and axial planes sub-parallel to foliation.
  3. The veinlets commonly exhibit both crude mineral banding as well as quartz, carbonate, galena and gold filled ladder-style cross veinlets.
  4. Most of the coarse, visible gold occurs in either fracture fillings or in steeply west dipping tension gash veinlets. Geometry of the gash veinlets has been determined by field core orientation using the south dipping, sheared foliation fabric for geometric control.

The points above indicate that the high grade mineralization occurred within an environment of generally north-south compression and coincident north-south trending fracturing. These fractures include both steeply west dipping, native gold bearing, echelon gash veinlets and sub vertical, mm-scale, gold-galena-chalcopyrite filled fractures.

Hydrothermal brecciation appears to have occurred prior to mineralization based on the lack of breccia clasts of mineralized veinlet or wall rock material. The overall picture in the NW portion of the Burns property is pointing towards the presence of a focused hydrothermal vent invading a brittle-ductile, trans-tensional environment within the host shear zone. The geometry from field core orientations strongly suggests that north striking, steeply west dipping fractures focused the hydrothermal solutions within the bonanza grade gold-silver zone.

The style of the brecciation and crude mineralogic banding in deformed, mineralized veinlets both strongly suggest that the hydrothermal solution underwent episodic boiling. This environment of mineralization is seen in numerous lode gold deposits worldwide.

This style of high grade mineralization was extended up dip in hole RR12-26. Additionally, hole RR12-27 intersected coarse gold within low sulphide, bull quartz style veining in a position 10 metres below that of the bonanza grade zone. This occurrence indicates that gold and silver mineralization has occurred on multiple horizons in the area around hole RR11-71.

Updated Burns Block Drill Hole Location Map: http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Feb_2012.jpg

The main goal of RR12-23 was to test the potential extension of the 433 Zone in a position 100 metres up dip and 70 metres east from the multi-gram gold mineralization intersected in early 2010 in hole RR10-3. A persistent zone of pyrite mineralization was intersected at depth with foliated and altered dacites. This zone started at approximately 575 metres down hole and continued to 785 metres where a change to a porphyry style quartz and quartz carbonate stock work veinlet zone began. This lower stock work zone occurs within an envelope of red potassium feldspar flooding and is chalcopyrite bearing. Widespread, low grade gold mineralization was found in both the pyrite zone and in the underlying veinlet stock work.

Assay Results from Holes RR12-23 to RR12-29:

Drill Hole From (m ) To (m ) Interval (m ) Au (g/t ) Ag (g/t ) AuEq (g/t ) Drill Fence
RR12-23 22.00 24.00 2.00 1.26 21.10 1.68
including 23.00 24.00 1.00 1.85 28.70 2.42
34.00 38.00 4.00 0.41 17.80 0.77
43.00 59.00 16.00 26.15 348.74 33.12
including 46.00 56.00 10.00 38.07 517.23 48.41
including 46.00 54.00 8.00 44.51 601.50 56.54
83.00 96.00 13.00 0.49 23.25 0.96 NW
including 83.00 87.00 4.00 0.93 52.60 1.98 Zone
103.00 105.00 2.00 0.51 11.45 0.74
332.00 333.50 1.50 0.21 8.50 0.38
623.00 624.50 1.50 0.38 0.90 0.40
645.50 647.00 1.50 0.61 2.90 0.67
695.00 705.50 10.50 0.51 0.44 0.52
801.50 803.00 1.50 1.28 4.90 1.38
RR12-24 21.00 39.00 18.00 0.28 10.59 0.49
47.00 48.00 1.00 0.26 4.60 0.35 NW
70.00 73.00 3.00 0.36 3.60 0.43 Zone
79.00 80.00 1.00 0.27 5.00 0.37
83.00 84.00 1.00 0.33 2.10 0.37
RR12-25 54.50 80.00 25.50 0.43 8.59 0.60 NW
78.50 80.00 1.50 0.95 24.00 1.43 Zone
RR12-26 12.30 48.50 36.20 1.92 40.91 2.74
including 30.50 39.50 9.00 6.65 12.79 6.91
including 30.50 36.00 5.50 10.39 191.32 14.22
32.00 34.00 2.00 22.24 420.00 30.64 NW
56.00 57.50 1.50 0.29 10.20 0.49 Zone
63.00 65.00 2.00 0.34 4.70 0.43
75.50 77.00 1.50 0.24 8.90 0.42
81.50 88.60 7.10 1.52 25.38 2.03
including 81.50 83.00 1.50 6.15 110.00 8.35
RR12-27 29.00 58.00 29.00 1.12 19.55 1.51 NW
including 50.00 53.00 3.00 4.76 72.93 6.22 Zone
RR12-28 35.00 36.00 1.00 0.18 15.20 0.48
45.00 48.00 3.00 0.30 10.93 0.52
69.00 85.00 16.00 0.66 31.45 1.29
including 69.00 71.00 2.00 1.32 9.85 1.52
including 81.00 84.00 3.00 1.68 110.27 3.89 NW
including 82.00 84.00 2.00 2.19 150.50 5.20 Zone
89.00 90.00 1.00 0.24 8.90 0.42
95.00 102.00 7.00 0.41 19.39 0.80
107.00 123.00 16.00 0.65 15.38 0.96
including 120.00 122.00 2.00 1.70 67.65 3.05
RR12-29 49.50 51.00 1.50 0.66 8.00 0.82 NW Zone

(i) g/t = grams per metric tonne

(i) The down hole interval lengths are estimated to be approximately 65%-95% of true width

(i) 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%
(i) 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

East Burns Highlights:

  • Hole RR12-20 intersects 4.0 metres of 4.13 g/t Au and 19.66 g/t Ag in an infill collar position between holes RR12-5 and RR12-12.
  • Hole RR12-19 intersects 9.0 metres of 1.48 g/t gold and 26.10 g/t silver in an infill collar position between holes RR12-3 and RR12-5.
  • The mineralized zone remains open down plunge to the WSW on the Burns Block.
  • Mineralization is being found within a 50 to 70 metre wide zone of shearing, sericite-silica alteration and polymetallic base metal sulfide mineralization.

East Burns Block Exploration/Delineation Discussion:

The current results from East Burns continue to show that a focused zone of precious and base metal mineralization becomes more disseminated both up dip and down dip within the host shear and that the mineralized zone plunges in a SW direction. The potential down plunge extension of this mineralization remains completely untested SW of previously reported hole RR12-12 which returned 13.5 metres of 5.13 g Au and 25.21 g/t Ag.

Plan View of 2012 Drill Holes at East Burns: http://www.bayfieldventures.com/i/maps/BYV_Plan_View_20120424.jpg

As is the case in the western portion of the property, higher grade gold and silver within this plunging zone of mineralization are coincident with the presence of discontinuous, quartz and quartz-carbonate veinlet swarms.

Assay Results from Holes RR12-19 to RR12-22:

Drill Hole From (m ) To (m ) Interval (m ) Au (g/t ) Ag (g/t ) AuEq (g/t ) Drill Fence
RR12-19 55.70 57.00 1.30 1.48 0.10 1.48
77.00 78.50 1.50 0.50 0.10 0.50
354.50 356.00 1.50 1.52 1.20 1.54
534.50 536.00 1.50 0.97 0.30 0.98 Eastern
576.00 577.00 1.00 0.35 2.50 0.40 Zone
581.00 590.00 9.00 1.48 26.10 2.00
including 581.00 585.50 4.50 2.20 6.87 2.34
including 584.00 585.50 1.50 4.33 14.40 4.62
606.50 617.00 10.50 0.52 13.54 0.79
RR12-20 543.50 545.00 1.50 0.38 4.70 0.47
566.00 576.50 10.50 0.77 6.89 0.91
including 566.00 570.50 4.50 1.15 34.50 1.84 Eastern
including 566.00 567.50 1.50 1.61 30.40 2.22 Zone
582.50 596.00 13.50 1.54 9.34 1.73
including 587.00 591.00 4.00 4.13 19.66 4.52
587.00 588.50 1.50 8.10 36.00 8.82
RR12-21 552.50 555.50 3.00 0.64 5.25 0.75
including 552.50 554.00 1.50 0.89 8.80 1.07 Eastern
569.00 576.50 7.50 0.48 2.14 0.52 Zone
585.50 590.00 4.50 1.06 37.13 1.80
including 588.50 590.00 1.50 2.39 90.80 4.21
RR12-22 249.50 251.00 1.50 0.38 2.50 0.43
290.00 291.50 1.50 0.32 3.40 0.39
552.50 554.00 1.50 0.35 6.00 0.47 Eastern
563.00 575.00 12.00 0.71 2.26 0.76 Zone
including 572.00 573.50 1.50 2.30 2.40 2.35
582.50 593.00 10.50 0.77 4.17 0.85
including 584.00 587.00 3.00 1.58 7.15 1.72

(i) g/t = grams per metric tonne

(i) The down hole interval lengths are estimated to be approximately 65%-95% of true width

(i) 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%

(i) 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. The Company has 70.3 million shares outstanding and has approx. $3.5 million in its treasury.

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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