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) (FWB: B4N) (the "Company")
is pleased to announce an additional significant gold intercept on
its 100% owned Burns Block property in the Rainy River District of
north-western Ontario. The Burns Block is situated adjacent to the
east and on strike to Rainy River Resources' (TSX-V: RR)
multi-million ounce gold deposit. Rainy River Resources' March 2010
NI 43-101 compliant resource includes 2.37 million ounces of gold
at 1.3 g/t in the indicated category and an additional 2.66 million
ounces of gold at 1.2 g/t in the inferred category.
Rainy River gold properties claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
Highlights:
* Notable high grade gold intercept: 33.13 g/t gold over 2.2 metres, 21.6
g/t gold over 0.70 metres and 1.71 g/t gold over 10.95 metres all
within 116.60 metres of 1.05 g/t gold in drill hole RR11-1
* The gold zone in RR11-1 represents the down-plunge extension of the
high grade mineralization intercepted in previous holes RR10-18,
RR10-52 and RR10-15
* Significant silver mineralization accompanying gold mineralization in
RR11-1 including 208.18 g/t silver over 2.2 metres within 116.6 metres
of 13.34 g/t silver
* Gold intercepts reported on Bayfield's Burns Block continue to define
eastern extension of Rainy River Resource's main ODM17 gold zone
* Infill and up-plunge extension drilling of the high grade zone
continues with one rig
* Expansion drilling of the continuation of the ODM17 zone to the east on
the Burns Block continues with second rig
* Assays pending for nine more holes
Discussion of Results from Hole RR11-1:
Hole RR11-1 was collared near the southwest corner of the Burns
Block and intersected high grade gold and silver mineralization in
a position 80 metres down-plunge of the previously announced high
grade gold intercept in hole RR10- 18. Hole RR11-1 was the first
hole drilled by Bayfield in 2011 and is part of the Company's
continued exploration and delineation of the high grade gold chute
located on the western portion of the Burns Block.
Visible gold, electrum and native silver were noted during
logging of the mineralized interval. Coarse gold and electrum occur
as cross cutting fracture fillings within a distinctive foliated
and sericite altered dacite host rock. Native silver (or silver
rich electrum) occurs as mm-scale blebs, smears or dendritic clumps
localized within the strong foliation. Accessory minerals include
abundant dark brown sphalerite, blebs of chalcopyrite and
arsenopyrite as well as deformed pyrite stringer veins and cross
cutting galena veinlets.
Significant assay results from RR11-1 are summarized in the
table below. Note that silver mineralization occurs with the gold
mineralization and that the silver content of the mineralization
has an important impact on the grade of the mineralized zones when
combined and expressed as gold equivalent values or AuEq (far right
column of the table).
Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg
Gold and Silver Assay Results from RR11-1:
+---------+--------+------+------------+--------+--------+----------+
| HOLE |FROM (m)|TO (m)|INTERVAL (m)|Au (g/t)|Ag (g/t)|AuEq (g/t)|
+---------+--------+------+------------+--------+--------+----------+
| RR11-1 | 509.50 |626.10| 116.60 | 1.05 | 13.34 | 1.35 |
+---------+--------+------+------------+--------+--------+----------+
|including| 509.50 |510.20| 0.70 | 21.60 | 21.00 | 22.07 |
+---------+--------+------+------------+--------+--------+----------+
| and | 550.75 |561.70| 10.95 | 1.71 | 78.36 | 3.45 |
+---------+--------+------+------------+--------+--------+----------+
| and | 623.90 |626.10| 2.20 | 33.13 | 208.18 | 37.76 |
+---------+--------+------+------------+--------+--------+----------+
* g/t = grams per metric tonne
* AuEq (g/t) values calculated at the current 45 to 1 (gold
price vs. silver price) ratio
Current Exploration Summary:
Bayfield is still at an early stage of exploration on its Rainy
River properties with approximately 28,000 metres of drilling
completed out of the planned 50,000+ metre drill program. Assays
are pending for nine more holes (RR11-2 through RR11-10).
The Company is currently using two diamond drill rigs to carry
out the exploration of the eastern extension of Rainy River
Resource's main ODM17 gold zone onto the Burns Block. One of the
rigs is currently defining the high grade gold chute near the
western border of the Burns property by delineating the up- plunge
extension of the high grade gold mineralization. The second rig is
conducting the initial exploration of the foliated, sericite
altered and mineralized dacite volcanic host rock to the east
further into the Burns Block. The most easterly hole drilled in
this program on the Burns Block is 150 metres from the western
boundary, leaving 650 metres of strike length yet to be drilled to
the east.
Jim Pettit, CEO of Bayfield Ventures, stated: "Hole RR11-1 is a
very encouraging start to the year as it has intersected the
down-plunge high grade extension from holes RR10-18, 15 and 52. The
delineation of this high grade chute is ongoing on the Burns Block
as well as the continued easterly step-out drilling. With 650
metres of unexplored strike length on the property, the Company is
excited with the potential for new gold and silver discoveries over
to the east.
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 metre intervals. The core samples were analyzed for gold
by 30-gm fire assay with AA finish and by gravimetric methods from
assays over 3000 ppb (over limit). Screened total metallic assays
are being performed on samples assaying over 10,000 ppb. 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.
Shane Hu, P.Geo., Project Geologist for Bayfield Ventures is the
Qualified Person, as defined by National Instrument 43-101 and
supervised both the project field 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 approximately 53
million shares outstanding and over $7 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.
Smartstox recently wrote a report on Bayfield:
http://www.smartstox.com/reports/byv/.
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#1489822]
For further information contact myself 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
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