VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2013) - Bayfield Ventures Corp. (News - Market indicators)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) is pleased to announce further assays results at the Company's 100% owned mineral rights Burns Block gold-silver project located adjacent to the east of New Gold's multi-million ounce Rainy River gold-silver deposit and adjacent to the west of New Gold's expanding Intrepid gold-silver zone in north-western Ontario.
Rainy River District Gold Zones: www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg
Highlights:
- Hole RR13-10W1 intersected 3 metres of 8.58 g/t gold and 47.65 g/t silver
- Hole RR13-11 intersected strong gold mineralization in a position 25 metres down plunge of the mineralized zones in previously reported holes of the RR12-34 Wedge Complex
- Hole RR13-11 includes a high grade interval which returned 1.5 metres of 528 g/t (18.63 oz/t) gold and 103 g/t silver from 679.0 metres down hole
- Assays pending for wedge holes RR13-11W1, RR13-11W2 and RR13-11W3
- Further southwest down plunge Intrepid Zone exploration drilling continues
Down plunge extension drilling of the Intrepid Zone has been pursued by Bayfield since core drilling restarted at the Company's Burns Block on August 17th. Eight holes have been attempted with six of those being completed through to the foot wall of the target down plunge Intrepid Zone.
Strong, poly metallic base metal veining has been intersected in all completed holes. Gold and silver assays are now being received and are summarized below. Additional assays are pending.
The East Burns - Intrepid 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 than 1% to 2% of mineralized intervals but its presence is strongly correlated with the presence of gold grades >10 grams/tonne.
Results of Intrepid Zone Extension Exploration and Near Term Exploration Plans:
The Intrepid Zone on Bayfield's Burns Block is being significantly extended down plunge by the Company's current exploration program.
Recently completed and assayed holes in the down plunge Intrepid exploration program include holes RR13-10 and RR13-10W1. Both of these holes intersected the Intrepid Zone poly metallic vein swarm over down hole intervals from 50 to 60 metres. Assays results reported here indicate mutligram gold and silver occur in portions of this complex vein swarm. Native gold was logged in deformed quartz-galena-arsenopyrite bearing quartz and quartz-ankerite veinlets.
Mother hole RR13-11 has intersected strong gold mineralization in a position 25 metres down plunge of the mineralized zones in previously reported assays from the RR12-34 mother hole and wedge complex.
A strongly mineralized interval in hole RR13-11 contains highly deformed, quartz-galena-gold and poly metallic base metal veins and veinlets over a down hole interval of 9.4 metres from 675.6 to 685.0 metres. Native gold were logged in the core at 680.25 metres down hole within a dark grey galena-gold quartz veinlet. This veinlet is contained within the overall 9.4 metre strongly veined interval.
This well-developed veinlet zone in hole RR13-11 returned a very high grade interval from 679.0 to 680.5 metres down hole which returned 528 g/t (18.63 oz/t) gold and 103 g/t silver.
Three wedge holes from hole RR13-11 have been completed in Bayfield's continuing down plunge Intrepid Zone exploration at Burns. Assays for these 3 wedge holes are pending and will be reported after receipt and compilation of standard protocols.
Following completion of wedge hole RR13-11W3 on Sunday, Bayfield has moved the rig further southwest to continue the Company's down plunge Intrepid Zone exploration. This will include the drilling of a carefully controlled exploration mother hole targeted at the lower portion of the southwest extension plunging Intrepid Zone. It is anticipated that the RR13-12 mother hole will be used for a series of wedges designed to test the vertical dimensions of the targeted, mineralized vein system.
East Burns - Intrepid Zone Drill Hole Plan View Map: www.bayfieldventures.com/i/maps/BurnsBlockRR13-11_PV.jpg
Final assay results of the RR13-11 mother hole and completed holes RR13-10 and RR13-10W1 are presented in first table below.
| Drill Hole |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Ag
(g/t) |
AuEq
(g/t) |
| RR13-10 |
692.00 |
695.00 |
3.00 |
5.02 |
15.75 |
5.34 |
| RR13-10W1 |
656.00 |
659.00 |
3.00 |
8.58 |
47.65 |
9.53 |
| |
680.00 |
681.50 |
1.50 |
2.96 |
14.10 |
3.24 |
| RR13-11 |
665.00 |
666.50 |
1.50 |
3.98 |
32.50 |
4.63 |
| |
677.00 |
678.50 |
1.50 |
2.54 |
22.60 |
2.99 |
| |
678.50 |
680.00 |
1.50 |
0.54 |
5.40 |
0.65 |
| |
680.00 |
681.50 |
1.50 |
528.00 |
103.00 |
530.06 |
| |
681.50 |
683.00 |
1.50 |
3.23 |
31.90 |
3.87 |
| |
683.00 |
684.50 |
1.50 |
4.71 |
24.40 |
5.20 |
| |
|
| * |
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 2.5 g/t gold cut-off grade with a maximum gap of 3.0 metres between intervals below the cut-off grade |
From 680.0 to 681.50 metres in mother hole RR13-11, the assay results in the table above are from screen fire metallic assay methods. Our assay protocol calls for screen fire metallic assays on any gold assays >5.0 grams done by an initial gravimetric assay method. This is an industry standard procedure for the assaying of mineralized zones containing coarse-grained native gold.
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 over 300 drill holes completed and concentrated on its flagship Burns Block gold-silver project.
For further information on Bayfield Ventures Corp. (News - Market indicators), visit the Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
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 release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.