Bayfield Reports 7.2m of 656.88 g/t Ag in Rainy River, North-Western Ontario
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/11 -- Bayfield Ventures Corp. (TSX VENTURE: BYV) (FRANKFURT: B4N) (the 'Company') is pleased to report, further to its news release of November 29th, 2011, additional high grade silver intercepts from its ongoing 100,000 metre drill program. 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 deposit.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
-- Hole RR11-181 intercepted 7.2 metres grading 656.88 g/t silver. This is
accompanied by the previously reported 7.2 metres of 61.02 g/t gold.
-- Bayfield is providing a further breakdown of the high grade gold and
silver intercept in hole RR11-181 (see chart below). This intercept is
at a vertical depth of 40 metres.
-- Hole RR11-180 intercepted 5.0 metres grading 277.82 g/t silver. This is
accompanied by the previously reported 5.0 metres of 64.66 g/t gold.
-- Assays for ten additional completed holes are pending.
Discussion of High Grade Silver Assay Results:
Recently, Bayfield initiated the drilling of a series of holes drilled on due west azimuths in the northwest corner of the Burns Block. The purpose of these drill holes is two fold: to further delineate known high grade gold and silver zones and to explore for additional electrum bearing fracture zones between the existing pattern of north facing dill holes.
Updated Burns Block drill hole location map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Nov_2011.jpg
Bayfield has received the final silver assay results for hole RR11-181 which include 7.2 metres grading 656.88 g/t Ag at a vertical depth 40 metres. This is in addition to the 7.2 metres of 61.02 g/t Au previously reported in the news release dated November 29, 2011. In total, five east-west infill drill holes have been reported so far. In addition to hole RR11-181, notable gold and silver intercepts from these east-west holes include 5.00 metres grading 64.66 g/t Au and 277.82 g/t Ag in hole RR11-180 as well as 12.00 metres of 9.53 g/t Au and 31.35 g/t Ag in hole RR11-182.
The charts below report the final silver assay numbers in holes RR11-171, RR11-172, RR11-180, RR11-181 and RR11-182, as well as a breakdown of the overall high grade gold-silver intercept in hole RR11-181.
Table 1: Final Silver Assay Results from Holes RR11-171, RR11-172, RR11-180, RR11-181 and RR11-182
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Interval AuEq
Drill Hole From (m) To (m) (m) Au (g/t) Ag (g/t) (g/t) Drill Fence
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RR11-171 38.00 41.00 3.00 1.18 178.20 4.74 Far North
including 39.50 41.00 1.50 1.61 317.00 7.95
57.50 62.00 4.50 0.27 11.63 0.50
66.50 71.00 4.50 0.48 23.67 0.95
78.50 81.50 3.00 0.39 1.55 0.42
89.00 90.50 1.50 0.51 1.40 0.54
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RR11-172 25.60 27.10 1.50 0.43 3.90 0.51 Far North
31.50 34.80 3.30 0.82 111.42 3.05
including 32.80 33.80 1.00 1.71 276.00 7.23
47.00 66.50 19.50 0.63 17.12 0.97
including 53.00 66.50 13.50 0.80 19.58 1.19
including 65.00 66.50 1.50 3.00 55.70 4.11
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RR11-180 26.00 32.00 6.00 0.15 14.88 0.45 Far North
40.00 41.00 1.00 0.16 11.00 0.38
47.00 77.00 30.00 12.98 104.77 15.08
including 47.00 66.50 19.50 19.85 156.66 22.99
including 47.00 61.00 14.00 27.30 198.99 31.28
including 47.00 57.00 10.00 36.56 260.07 41.76
including 52.00 57.00 5.00 64.66 277.82 70.22
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RR11-181 44.00 77.00 33.00 13.73 159.32 16.92 Far North
including 48.40 58.00 9.60 46.30 510.47 56.51
including 49.80 57.00 7.20 61.02 656.88 74.15
including 54.30 56.00 1.70 166.65 1650.59 199.66
86.00 99.50 13.50 1.05 18.97 1.43
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RR11-182 22.90 33.50 10.60 0.15 12.64 0.40 Far North
44.00 48.50 4.50 0.20 7.93 0.36
53.00 81.50 28.50 4.14 17.91 4.50
including 54.50 66.50 12.00 9.53 31.35 10.16
including 59.00 65.00 6.00 16.62 40.98 17.44
87.50 90.50 3.00 0.97 40.40 1.78
including 87.50 89.00 1.50 1.65 58.60 2.82
96.50 101.00 4.50 0.41 21.13 0.83
including 98.00 99.50 1.50 0.68 36.20 1.40
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(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
Table 2: High Grade Breakdown of Hole RR11-181
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Drill Interval
Hole From (m) To (m) (m) Au (g/t) Ag (g/t) AuEq (g/t) Drill Fence
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RR11-181 44.00 77.00 33.00 13.73 159.32 16.92 Far North
including 48.40 58.00 9.60 46.30 510.47 56.51 Drilled
including 49.80 57.00 7.20 61.02 656.88 74.16 east-west
and 49.80 50.90 1.10 28.60 459.00 37.78 to RR11-71
and 50.90 52.00 1.10 33.40 634.00 46.08 intercept
and 52.00 53.00 1.00 21.80 164.00 25.08
and 53.00 54.30 1.30 27.40 184.00 31.08
and 54.30 55.00 0.70 281.00 2580.00 332.60
and 55.00 56.00 1.00 86.60 1000.00 106.60
and 56.00 57.00 1.00 30.40 318.00 36.76
86.00 99.50 13.50 1.05 18.97 1.43
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Table 3: Additional Gold and Silver Assay Results for Holes RR11-186 to RR11-195 and RR11-198
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Interval Au Ag AuEq
Drill Hole From (m) To (m) (m) (g/t) (g/t) (g/t) Drill Fence
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RR11-186 227.00 228.50 1.50 0.48 1.00 0.50 Northeast
246.50 249.50 3.00 0.49 10.30 0.70 Quadrant
including 246.50 248.00 1.50 0.78 11.40 1.01
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RR11-187 183.50 236.00 52.50 0.74 14.78 1.04 Central
including 203.00 211.00 8.00 2.76 41.73 3.60 Drilled west
including 204.00 206.00 2.00 6.65 15.15 6.95 to RR10-15
251.00 252.50 1.50 0.27 4.70 0.36 intercept
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RR11-188 NSV NE Quadrant
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RR11-189 467.00 468.50 1.50 0.52 5.60 0.63 South
497.00 498.50 1.50 2.15 19.30 2.54
521.00 524.00 3.00 0.53 12.60 0.78 Drilled west
536.00 555.50 19.50 0.38 9.74 0.57 to RR10-52
including 552.50 554.00 1.50 1.13 47.40 2.08 intercept
560.00 572.00 12.00 0.53 12.44 0.78
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RR11-190 Northeast
162.70 170.00 7.30 0.24 8.40 0.40 Quadrant
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RR11-191 99.50 101.00 1.50 0.44 0.80 0.46 Northeast
170.00 171.50 1.50 1.49 19.90 1.89 Quadrant
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RR11-192 234.50 254.00 19.50 0.72 2.61 0.77 Northeast
including 248.00 249.50 1.50 3.07 2.90 3.13 Quadrant
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RR11-193 209.00 213.50 4.50 0.60 2.83 0.66 Northeast
including 210.50 212.00 1.50 1.04 4.50 1.13 Quadrant
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RR11-194 500.00 501.50 1.50 0.06 54.90 1.16 South
524.00 545.00 21.00 0.90 6.22 1.02 Drilled west
including 530.00 542.00 12.00 1.28 5.96 1.40 to RR10-52
including 530.00 533.00 3.00 3.54 6.15 3.66 intercept
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RR11-195 Northeast
197.00 203.00 6.00 0.39 5.20 0.49 Quadrant
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RR11-198 194.00 203.00 9.00 0.37 11.83 0.61 Northeast
including 200.00 201.50 1.50 0.71 22.90 1.17 Quadrant
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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 in the Rainy River District of north-western Ontario.
The Company has 62.8 million shares outstanding and approximately $4.5 million in its treasury.
On February 15th, Bayfield Ventures was recognized as a TSX Venture 50® company in 2011. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license. The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2010.
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.
Contacts:
Bayfield Ventures Corp.
James G. Pettit
Chairman and CEO
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
info@bayfieldventures.com
Bayfield Ventures Corp.
Don Myers
Director
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
info@bayfieldventures.com
Envoy Strategic Partners Investor Relations
Jay Bedard
416-977-7778
jay@envoystrategicpartners.com
