Bayfield Ventures Corp.

May 23, 2013 06:18 ET

Bayfield Ventures Corp. : Bayfield Drills 16.0m of 10.47 g/t Gold and 34.68 g/t Silver on Intrepid Zone in Rainy River, NW Ontario

VANCOUVER, BC--(Marketwired - May 23, 2013) -

Suite 2230 - 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA

www.bayfieldventures.com

TSX-V Trading Symbol: BYV

Email: info@bayfieldventures.com

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 gold-silver project located in the Rainy River District of north-western Ontario. The Company's Burns Block property is 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 the assay and geologic highlights from two drill holes completed during the winter/spring 2013 phase of Bayfield's drill exploration program on the Burns Block property.


Intrepid Zone Down-Dip Extension Highlights:


* Drill Hole RR13-34W2 intersected a down hole interval of 16.00 metres grading 10.47 g/t gold and 34.68 g/t silver. This interval commences at 635 metres down hole.

* Table 1 below lists all individual sample intervals for the high-grade shoot portion of hole RR13-34W2. This table displays the very continuous nature of the high-grade mineralization typical of the developing gold-silver zone on Bayfield's side of the property line.

* Table 2 below summarizes the assays for composite intervals of hole RR13-8 and RR13-34W2.

* The high-grade mineralization in hole RR13-34W2 is the western most intersection of the Intrepid shoot to date and clearly shows that additional down plunge and strike extension of this zone is likely.


Bayfield has been actively extending a robust shoot of high-grade gold- silver mineralization extending from Rainy River Resources' Intrepid gold-silver zone onto the eastern portion of the Burns Block to the southwest, since drilling discovery hole RR11-205 in late 2011.


Burns Block Drill Hole Location Map:

http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Feb_2012.jpg


Comparison of known location, geometry and geological- mineralogical characteristics of the mineralization being developed on either side of the Bayfield Ventures - Rainy River Resources property line clearly indicates that the two companies are outlining and extending a single, remarkably continuous, large-scale mineralized shoot.


Exploration and delineation drilling by Bayfield Ventures and Rainy River Resources has established that the Intrepid shoot is strongly mineralized from surface (bedrock/glacial till contact) to a current vertical depth of over 620 metres. The known strike length is >700 metres and the NE-SW down plunge distance is now >1km.


These dimensions indicate that the Intrepid zone is the most vertically continuous mineralized structure discovered to date in the district. Furthermore these dimensions, when combined with the documented presence of a high-grade core where grades of >10 grams gold over down hole widths of 10 to 25 metres are common, are leading to establishing the Intrepid as one of the most important mineralized zones found to date.


Discussion of Intrepid Zone Down-Dip Extension Hole RR13-34W2:


The wedge hole RR13-34W2 was oriented to produce a westward exploration of the high-grade mineralization intersected in holes RR12-34 and RR12-34W1. Plotting of the drill trace shows that the hole intersected the high-grade shoot approximately 20 metres west of and 25 metres above the previously announced high-grade intersection in hole RR12-34. These geometric results suggest that the high-grade shoot is likely taller and has a somewhat flatter plunge than previously thought.


The high-grade gold-silver zone is strongly mineralized by irregular veinlets, fracture fills and clotty disseminations of dark brown sphalerite, galena, arsenopyrite and chalcopyrite. Sphalerite commonly forms 2% to 5% of mineralized intervals and assays results of >1% zinc are not uncommon. Arsenopyrite rarely makes up more that 0.5% of mineralized intervals but its presence is very strongly correlated with the presence of gold grades >10 grams/tonne.


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 on the east boundary adjoining Rainy River Resources ground to the current extension drilling area approximately 240 metres to the southwest.


East Burns - Intrepid Zone Cross Section Looking West:

http://www.bayfieldventures.com/i/maps/BYV-Eastern_Burns_Lookwest--nov19-(2).jpg


Table 1: Complete sample interval assays from drill hole RR13-34W2 16 metre high-grade gold-silver shoot intersection from 635.0 to 651.0 metres down hole:

+---------+--------+------+------------+-----+-----+-----+---------+
|  Drill  |        |  To  |            | Au  | Ag  |AuEq |  Drill  |
|         |From (m)|      |Interval (m)|     |     |     |         |
|  Hole   |        | (m)  |            |(g/t)|(g/t)|(g/t)|  Fence  |
+---------+--------+------+------------+-----+-----+-----+---------+
|RR12-34W2| 635.00 |636.50|    1.50    |8.12 |36.30|8.85 |         |
|         |        |      |            |     |     |     |         |
|         | 636.50 |638.00|    1.50    |1.01 |10.80|1.23 |         |
|         |        |      |            |     |     |     |         |
|         | 638.00 |639.50|    1.50    |2.83 |26.10|3.35 |         |
|         |        |      |            |     |     |     |         |
|         | 639.50 |641.00|    1.50    |23.70|54.40|24.79|         |
|         |        |      |            |     |     |     |         |
|         | 641.00 |642.00|    1.00    |9.95 |20.20|10.35|         |
|         |        |      |            |     |     |     |         |
|         | 642.00 |643.00|    1.00    |4.71 |13.10|4.97 |         |
|         |        |      |            |     |     |     |         |
|         | 643.00 |644.00|    1.00    |14.80|24.10|15.28|         |
|         |        |      |            |     |     |     |East Zone|
|         | 644.00 |645.00|    1.00    |28.80|78.20|30.36|         |
|         |        |      |            |     |     |     |         |
|         | 645.00 |646.00|    1.00    |21.50|75.80|23.02|         |
|         |        |      |            |     |     |     |         |
|         | 646.00 |647.00|    1.00    |6.38 |58.20|7.54 |         |
|         |        |      |            |     |     |     |         |
|         | 647.00 |648.00|    1.00    |2.86 |24.10|3.34 |         |
|         |        |      |            |     |     |     |         |
|         | 648.00 |649.00|    1.00    |4.66 |22.20|5.10 |         |
|         |        |      |            |     |     |     |         |
|         | 649.00 |650.00|    1.00    |19.70|43.20|20.56|         |
|         |        |      |            |     |     |     |         |
|         | 650.00 |651.00|    1.00    |0.73 |4.30 |0.82 |         |
+---------+--------+------+------------+-----+-----+-----+---------+


Table 2: Assay results from drill holes RR13-8 and RR13-34W2:

+----------+----------+--------+------------+-------+-------+-------+-----+
|  Drill   |          |   To   |            |  Au   |  Ag   | AuEq  |Drill|
|          | From (m) |        |Interval (m)|       |       |       |     |
|  Hole    |          |  (m)   |            | (g/t) | (g/t) | (g/t) |Fence|
|          |          |        |            |       |       |       +-----+
| RR13-8   |  621.00  | 629.00 |    8.00    | 1.10  | 3.19  | 1.16  |     |
|          |          |        |            |       |       |       |     |
|including |  626.00  | 629.00 |    3.00    | 2.30  | 2.30  | 2.35  |     |
|          |          |        |            |       |       |       |     |
|RR12-34W2 |  620.00  | 623.00 |    3.00    | 2.19  | 6.80  | 2.33  |     |
|          |          |        |            |       |       |       |     |
|          |  635.00  | 651.00 |   16.00    | 10.47 | 34.68 | 11.16 |     |
|          |          |        |            |       |       |       +-----+
|          |          |        |            |       |       |       |     |
|          |          |        |            |       |       |       |     |

* g/t = grams per metric tonne

* The true width lengths are estimated to be approximately 55%-65% of down hole Interval

* 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



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

[HUG#1703904]

Contact Information

  • For further information contact James Pettit or:

    Don Myers
    Director
    Bayfield Ventures Corp.
    Telephone: 604-687-3376
    Toll Free: 800-567-8181
    Facsimile: 604-687-3119
    Email: Email Contact

    Other Contact:
    Envoy Strategic Partners Investor Relations
    Jay Bedard
    Telephone: 416-977-7778
    Email: Email Contact