VANCOUVER, BC -- (Marketwire) -- 08/03/10 --
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Bayfield Mobilizes Second Drill Rig to its Rainy River Gold Project in NW Ontario
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the 'Company') is pleased to announced that Rodren Drilling has mobilized a second drill rig and equipment for the commencement of a drill program on its 100% owned 'B' Claim Block property situated immediately northeast of Bayfield's Burns Block and east of Rainy River Resources' (TSX.V: RR) 433 gold zone in north- western Ontario.
Rainy River gold properties claims map:
Bayfield now has two rigs drilling on its Rainy River properties, one on the Burns Block and one on the 'B' Block, to carry out the Company's 20,000+ metres of diamond drilling. The objective of this major drill program is to explore and expand the extension of gold mineralization that is being defined by Rainy River Resources on their ground adjacent to Bayfield's properties. The drilling will focus on confirming gold continuity and grade at both shallow and deeper depths.
A four hole drill program (1192 metres) was completed by Bayfield on its 'B' Block property in the fall of 2008. All four holes, although shallow, encountered wide sections of elevated to strongly anomalous gold values including a 2 metre intercept grading 5.70 g/t gold within 5 metres of 2.64 g/t gold, and a 1 metre intercept grading 1.95 g/t gold.
'B' Claim Block and Burns Block map showing drill holes: http://www.bayfieldventures.com/i/maps/BYV-Burns-and-B-Block-Aerial.jpg
The gold mineralization encountered to date on Bayfield's 'B' Block, like the Burns Block, occurs in the same geological environment as that hosting Rainy River Resources' five million ounce gold deposit to the immediate west. Furthermore, recent drill results reported by Rainy River Resources to the east of their 433 gold zone represent a possible eastward strike extension of the zone. With sufficient drilling, Bayfield is of the opinion that it can prove up this extension of the 433 gold zone eastward onto the 'B' Block.
Drilling Update on the Burns Block
In other news, Bayfield has now completed approximately 4800 metres of drilling on its 100% owned Burns Block property since starting its major 20,000+ metre diamond drill program in May 2010. The Company has finished 11 holes on the property so far, ranging in length from 270 metres to 730 metres, and will continue exploring the strike extension of Rainy River Resources' ODM17 gold zone at depth. Bayfield is extremely pleased with the drilling thus far and assays are pending.
Burns Block topography exploration map:
Previously, ten holes (4841 metres) had been drilled and reported by Bayfield on the Burns Block. The drilling confirmed the widespread distribution of gold within two litho-structural intervals directly on strike with the ODM17 gold zone of Rainy River Resources. Shallow and deeper intercepts reported by Bayfield along the strike extension of Rainy River Resources' ODM17 gold zone indicate that well above gold cut-off grade mineralization continues onto the Burns Block.
Significant results from previous drilling on the Burns Block include 4.5 metres of 7.34 g/t gold, 43.5 metres of 0.78 g/t gold including 4.5 metres of 3.0 g/t gold, 25 metres of 0.89 g/t gold, 61.2 metres of 0.49 g/t gold including 7.5 metres of 1.77 g/t gold within 16.5 metres of 1.20 g/t gold, and 1 metre of 9.51 g/t gold.
Rainy River Resources' March 2010 NI 43-101 shows an indicated resource of 2.37 million ounces of gold (averaged at 1.3 g/t) and inferred resources of 2.66 million ounces of gold (averaged at 1.2 g/t). Of the total 5.03 million ounces of gold inferred and indicated, 4.09 million ounces of gold are contained within open pit parameters and the remaining 0.94 million ounces of gold are below open pit depths.
Bayfield Ventures is well financed with approximately $3,500,000 in its treasury to carry out the proposed drilling on both its Burns and 'B' Block properties. The Company may also conduct future work on its strategically located 100% owned 'C' Claim Block property to the west of Rainy River Resources' developing gold deposit.
Bayfield's properties are ideally located with easy access to roads and power.Ontario has low political risk and the Rainy River District has skilled labour and is one of the lowest-cost areas for mineral exploration and development in Canada.
About Bayfield Ventures Corp.
Bayfield Ventures Corp. is exploring for gold in the Rainy River district of north-western Ontario.
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
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.
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Source: Bayfield Ventures Corp. via Thomson Reuters ONE
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