Bayfield Ventures Corp. (TSX VENTURE:BYV) (OTCBB:BYVVF)
(FRANKFURT:B4N) (the "Company") is pleased to announce additional
assays from the continuing exploration of the 100% owned Burns
Block Gold-Silver Project. The Company's Burns Project is located
in the Rainy River District of north-western Ontario and is ideally
situated adjacent to the east of Rainy River Resources' (TSX: RR)
main ODM17 gold deposit and to the west of their expanding Intrepid
gold-silver zone.
Rainy River District Gold Zones:
http://www.bayfieldventures.com/i/pdf/RR-Gold-Zones.pdf
East Burns - Intrepid Zone Highlights:
-- Hole RR12-34 returns 26.50 metres grading 8.82 g/t gold and 39.44 g/t
silver including 11.60 metres of 17.04 g/t gold and 79.07 g/t silver at
East Burns - Intrepid Zone.
-- This is the best drill interval to date at this rapidly expanding zone
and extends high grade mineralization 55 metres down-plunge from
previously reported hole RR12-30 which returned 19.60 metres of 5.45 g/t
gold and 20.63 g/t silver.
-- Bayfield continues to explore the down-plunge extension of this robust
mineralized zone interpreted to be the lower portion of Rainy River's
Intrepid Zone.
-- Further step-out drilling to the southwest is ongoing to test the high
grade gold-silver zone which remains open down-dip and displays tendency
for increasing grade at depth.
-- Gold-silver mineralization is consistently being found on eastern
portion of Burns property within a 50 to 70 metre wide zone of shearing,
sericite-silica alteration and polymetallic base metal sulphide
mineralization.
Discussion of East Burns - Intrepid Drill Holes RR12-31 to
RR12-34:
This news release reports assay results from East Burns step out
holes RR12-31 to RR12-34. Hole RR12-34 intersected a very strong
interval of gold and silver mineralization in a position
approximately 55 metres down-plunge from previously reported hole
RR12-30 thereby extending the known mineralized zone at depth. Hole
RR12-34 intersected a down-hole interval of 26.50 metres grading
8.82 g/t gold and 39.44 g/t silver including 11.60 metres of 17.04
g/t gold and 79.07 g/t silver. This down-plunge offset of the
previously announced mineralization in hole RR12-30 contains the
highest grade gold-silver interval intersected at the East Burns -
Intrepid Discovery Area to date.
Updated Burns Block Drill Hole Location Map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Block_Drill_Collar_Map_Feb_2012.jpg
A trend of increasing grade and thickness of the southwest
plunging, precious and base metal mineralized shoot is becoming
evident based on the combined results of holes RR12-12, RR12-30 and
now RR12-34. The gold-silver intercepts in these three holes, the
deepest and highest grade to date at the East Burns, trace higher
grade mineralization over a down-plunge distance of approximately
70 metres and the zone remains open at depth. This persistent,
robust zone of gold-silver-base metal mineralization is part of a
larger system which Bayfield discovered near the east property
boundary in late 2011 and which has been roughly outlined over a
nearly 200-metre strike length and approximately 200 metres
down-dip.
Cross Section of 2012 Drill Holes at East Burns:
http://www.bayfieldventures.com/i/maps/BYV-look-west-Eastern-burns-block-Oct-23-2012.jpg
Holes RR12-31 to RR12-34 were drilled as exploration holes to
test the down-plunge extension of mineralization southwest of hole
RR12-30 which returned 19.60 metres of 5.45 g/t gold and 20.63 g/t
silver. Hole RR12-34 was collared 22 metres west and 30 metres
south of hole RR12-30 and intersected a high grade zone of gold and
silver over a 26.50 metre down-hole interval commencing at
approximately 650 metres below surface. Bayfield continues to drill
test the down-plunge extension of this expanding mineralized zone
which is projected to be the down-dip portion of Rainy River's
newly discovered Intrepid Zone.
Plan View of 2012 Drill Holes at East Burns:
http://www.bayfieldventures.com/i/maps/eastern-burns-block-plan-view-oct-23-2012.jpg
Holes RR12-31 to RR12-33 were collared as large southwest
step-outs ranging from 70 to 150 metres from hole RR12-30. All
three holes flattened faster than planned and passed above the
targeted high grade gold-silver zone and thus did not intersect any
significant precious metal mineralization. The results of the four
holes reported have shown Bayfield's geological team that targeting
the down-plunge extension of the East Burns - Intrepid high grade
zone is best done by drilling at very steep angles from collar
positions S-SW of holes RR12-12 and RR12-30. Drilling more
shallowly angled holes from positions further south has resulted in
a tendency for the holes to flatten and overshoot the high grade
zone leading to lower grade mineralization being intersected. This
new drilling strategy should allow the Company to more effectively
target the down-plunge extension of this developing high grade zone
at the East Burns.
Assay Results from Hole RR12-31 and RR12-34:
----------------------------------------------------------------------------
AuEq Drill
Drill Hole From (m) To (m) Interval (m) Au (g/t) Ag (g/t) (g/t) Fence
----------------------------------------------------------------------------
Eastern
RR12-31 305.80 307.10 1.30 0.70 3.80 0.78 Zone
581.00 582.50 1.50 0.55 0.90 0.57
591.50 593.00 1.50 0.47 1.80 0.51
599.00 605.00 6.00 0.38 5.63 0.49
----------------------------------------------------------------------------
Eastern
RR12-34 231.50 233.00 1.50 0.31 4.00 0.49 Zone
299.60 301.10 1.50 0.34 3.30 0.49
635.00 638.00 3.00 0.36 5.25 0.49
642.50 644.00 1.50 0.41 2.50 0.49
651.50 678.00 26.50 8.82 39.44 9.61
including 651.50 673.50 22.00 10.31 45.67 11.22
including 656.00 667.60 11.60 17.04 79.07 18.62
----------------------------------------------------------------------------
(i) g/t = grams per metric tonne
(i) The down hole interval lengths are estimated to be approximately 50%-70%
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
Eastern Burns Block Geology and Continuing Exploration
Discussion:
The mineralized zone in hole RR12-34 is associated with
discontinuous dark red-brown sphalerite matrix breccia veinlets and
rare quartz-carbonate-galena-chalcopyrite veinlet swarms with
accompanying visible gold and silver smears and crack infillings.
Local millimetre-scale smears of gold, silver and electrum are
associated with dark red-brown sphalerite matrix breccia veinlets
and quartz carbonate veinlets in the down-hole interval from 651.5
to 667.6 metres. The logged vein textures and mineral assemblage
are very similar to that at the West Burns high grade zone seen in
previously reported hole RR11-71 which returned 25.5 metres of
26.70 g/t gold and 170.69 g/t silver.
While the dimensions and plan-section geometry suggest that the
plunge of the East Burns - Intrepid Zone is approximately 45
degrees to the SW, logging details indicate that focusing of the
mineralization into the highly altered dacite host rock is related
to the interaction of complex folding, faulting and fracturing. It
is also apparent in the detailed logging and assay data to date
that multiple, structurally-controlled zones of gold-silver
mineralization exist in the eastern Burns area. As a result,
multiple targets for expanding the known mineralization beyond the
current, ongoing down-plunge exploration effort are being
identified.
This mineralized envelope at the East Burns is characterized by
well defined 10 to +25 metre down-hole intersections of multi-gram
gold mineralization surrounded by a relatively narrow halo of gram
to sub gram mineralization. The overall metallic signature of the
higher grade core of the zone is very similar to that of
mineralization seen at the western portion of the property in that
higher gold grades are accompanied by very high silver values and
base metal-quartz-carbonate veinlet swarms.
Current Exploration Summary at East Burns - Intrepid Zone:
Bayfield will continue to delineate this rapidly expanding East
Burns - Intrepid Zone with a focus on exploring for higher grade
gold-silver mineralization at depth. Rainy River is delineating the
interpreted up-dip extension of this mineralized zone on their
ground adjacent to the east of the Burns Block with three diamond
drill rigs. Rainy River stated in their November 13, 2012 news
release that thus far they have drilled 33 drill holes that have
intersected the Intrepid Zone over a 280-metre strike length and
have traced the mineralization down dip for 350 metres.
Jim Pettit, Chairman and CEO of Bayfield Ventures, stated: "The
mineralized interval encountered in hole RR12-34 is the richest
zone of gold and silver encountered to date at this developing East
Burns - Intrepid Zone as we continue to see the tenor of
mineralization increasing at depth. The Company will continue
exploring for high quality ounces in this new eastern zone into the
New Year while Rainy River delineates the interpreted up-dip
extension of this mineralization at their Intrepid Zone."
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.
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 www.bayfieldventures.com Envoy
Strategic Partners Investor Relations Jay Bedard
416-977-7778jay@envoystrategicpartners.com