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TSX Venture Trading Symbol: BYV
October 17, 2013
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (OTC Pink: BYVVF) (Frankfurt: B4N) is pleased to announce further assays results from the continuing exploration drill program at the Company`s Burns Block gold-silver project, Rainy River district, north-western Ontario. The Burns Block is located adjacent to the east of New Gold`s (NGD.TO) multi-million ounce Rainy River gold-silver deposit and adjacent to the west of New Gold`s expanding Intrepid gold-silver zone.
Rainy River District Claims Map:
Rainy River District Gold Zones:
- East Burns Intrepid gold-silver zone being extended down plunge by the Company`s current exploration drill program
- Hole RR13-11W2 intersected 4.5 metres of 9.82 g/t gold and 52.10 g/t silver within a wider zone of 16.5 metres of 3.77 g/t gold and 19.32 g/t silver
- Hole RR13-11W2 includes an upper zone of 4.5 metres of 2.95 g/t gold and 15.93 g/t silver within a wider zone of 7.5 metres of 2.08 g/t gold and 10.44 g/t silver
- Hole RR13-11W3 intersected two zones of 3 metres of 3.64 g/t gold and 5.40 g/t silver and 3 metres of 2.38 g/t gold and 4.05 g/t silver
- Assays pending for completed hole RR13-12
- Extension drilling continues at East Burns Intrepid Zone
Strong, poly metallic base metal veining has been intersected in all completed holes. Gold and silver assays for holes RR13-11W2 and RR13-11W3 are summarized in the table below.
Results of Intrepid Zone Extension Exploration and Near Term Exploration Plans:
The Intrepid gold-silver zone on Bayfield`s Burns Block is being extended down plunge by the Company`s current exploration drill program.
Hole RR13-11W2 returned 16.5 metres of 3.77 g/t gold and 19.32 g/t silver including a higher grade interval from 672.5 metres down hole of 4.5 metres of 9.82 g/t gold and 52.10 g/t silver. Hole RR13-11W2 also includes an upper zone of 7.5 metres of 2.08 g/t gold and 10.44 g/t silver including a higher grade interval from 653 metres down hole of 4.5 metres of 2.95 g/t gold and 15.93 g/t silver.
Hole RR13-11W2 encountered native gold localized within cracks in highly deformed grey quartz-pyrite veins. The zone with logged native gold correlated exactly with the highest assay intervals in the mineralized zone.
The comparison of logging and assay results for the RR13-11 mother hole and wedge hole W1, W2 and W3 continues to show both that the Intrepid Shoot is continuing strongly down plunge and that strong zoning of precious metal mineralization is present within the shoot. The mother hole cut the shoot deeper than any of the wedge holes and had the strongest precious metal mineralization of the RR13-11 Wedge Complex.
Following completion of holes RR13-11W2 and RR13-11W3, Bayfield moved the rig 30 metres southwest to continue the Company`s down plunge Intrepid Zone exploration with the completion of hole RR13-12 with assays pending.
Further down plunge drilling of the lower portion of the Intrepid Shoot is being targeted to continue to follow the very high grade gold mineralization intersected in RR13-11 (528 g/t gold over 1.5 metres within a strongly mineralized 7.5 metre down hole interval, announced Oct. 1st).
Burns Block Drill Hole Location Map:
Final assay results of holes RR13-11W2 and RR13-11W3 are presented in the table below.
|Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||AuEq (g/t)|
* 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 (silver price to gold price) ratio and metallurgical recoveries and net smelter returns are assumed to be 100%
* The intervals were determined using .35 g/t gold cut-off grade with a maximum gap of 3.0 metres between intervals below the cut-off grade
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.
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 most of the drilling completed and concentrated on its flagship Burns Block gold-silver project. Bayfield Ventures goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit
Chairman and CEO
For further information contact myself or:
Bayfield Ventures Corp.
Toll Free: 800-567-8181
Envoy Strategic Partners Investor Relations
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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.
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Source: Bayfield Ventures Corp. via Thomson Reuters ONE