Bayfield Announces Maiden NI 43-101 Technical Report and Mineral
Resource Estimate on Burns Block Rainy River Gold-Silver Project,
NW Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 14, 2014) -
Bayfield Ventures Corp.
(TSX-VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) is pleased to
announce the completion of a maiden National Instrument (NI) 43-101
Technical Report and Mineral Resource Estimate on the Company's
Burns Block gold-silver project, Rainy River district,
north-western Ontario. The Burns Block is surrounded by New Gold's
Rainy River project and adjoins the immediate east of New Gold's
multi-million ounce ODM17 gold-silver deposit and adjoins the
immediate west of New Gold's expanding Intrepid gold-silver
zone.
Rainy River District Gold Zones:
http://www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg.
Rainy River District Claims Map:
http://www.bayfieldventures.com/i/maps/BYVRRMapwopit.jpg.
Jim Pettit, CEO of Bayfield, commented: "We are very pleased to
announce our maiden resource estimate on our strategically located
Burns Block, which reflects the quality and location of our
resource and its potential to grow. Very early on the Bayfield team
recognized that the mineralization on the Burns Block occurred in
two stages, an early stage emplacement of lower grade material and
a later stage of high grade which became the focus of our drilling,
resulting in the discovery of two high-grade zones on the east and
west sides of the property. This decision proved to be appropriate,
as New Gold's Rainy River mine plan has continued to pursue an
underground component which has helped to raise their overall mine
plan head grade. The Burns Block remains open at depth and the
central portion of the property between our two high grade zones
remains relatively untested. We have a resultant underground
resource grade averaging greater than 7 grams per tonne gold. In
light of the proximity and quality of our high grade underground
resource to that of the adjacent New Gold deposits and our
resources crossing the property boundaries, Bayfield believes its
land and resources hold significant strategic value."
Burns Block NI 43-101 Technical Report and Mineral Resource
Estimate Highlights:
- An NI 43-101 compliant Technical Report and Mineral Resource
Estimate has been independently prepared by Riverbend Geological
Services (Riverbend) dated December 20, 2013 and titled
BURNS BLOCK NATIONAL
INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT.
- The NI 43-101 Technical Report and Mineral Resource Estimate
lists both Indicated and Inferred resources in near surface
positions (<500m depth, with a 0.35 AuEq g/t cutoff grade) and
in deeper positions (>500m depth, with a 2.5 g/t AuEq cutoff
grade).
- Combined Indicated resources have been calculated as 71,385
ounces of AuEq (Au & Ag) and Inferred resources have been
calculated as 176,654 ounces of AuEq.
- Near surface (<500m from surface) Indicated resources have
been calculated as 1.25 million tonnes of 1.0 g/t Au and 14.7 g/t
Ag containing 39,928 ounces Au and 591,954 ounces Ag. Additionally,
Inferred resources have been calculated as 2.79 million tonnes of
1.2 g/t Au and 14.4 g/t Ag containing 104,121 ounces Au and
1,293,763 ounces Ag.
- Deeper (>500m from surface) Indicated resources have been
calculated as 79,000 tonnes of 7.9 g/t Au and 37.0 g/t Ag
containing 20,029 ounces Au and 93,716 ounces Ag. Additionally,
Inferred resources have been calculated as 195,000 tonnes of 7.4
g/t Au and 43.0 g/t Ag containing 46,475 ounces Au and 269,708
ounces Ag.
- Recommendations contained within the NI 43-101 Technical Report
and Mineral Resource Estimate indicate the need for additional
exploration drilling in the central portion of the Burns Block and
additional delineation drilling on the Western Burns Zone and East
Burns - Intrepid Zone of the property.
Mineral resource estimate tabulation |
Indicated Resources |
|
Cut off |
Tonnes |
Au grade |
Ag Grade |
Au |
Ag |
|
AuEq (g/t) |
T x 1000 |
g/t |
g/t |
oz |
oz |
POP |
0.35 |
1,253 |
1.0 |
14.7 |
39,928 |
591,954 |
PUG |
2.5 |
79 |
7.9 |
37.0 |
20,029 |
93,716 |
Total Indicated |
1,332 |
1.4 |
16.0 |
59,957 |
685,670 |
|
|
Inferred Resources |
|
Cut off |
Tonnes |
Au grade |
Ag Grade |
Au |
Ag |
|
AuEq (g/t) |
T x 1000 |
g/t |
g/t |
oz |
oz |
POP |
0.35 |
2,788 |
1.2 |
14.4 |
104,121 |
1,293,763 |
PUG |
2.5 |
195 |
7.4 |
43.0 |
46,475 |
269,708 |
Total Inferred |
2,983 |
1.6 |
16.3 |
150,596 |
1,563,470 |
*g/t = grams per metric tonne. |
*oz = troy ounce. |
*POP = Potentially Open Pit mineable (above
500 metre depth). |
*PUG = Potentially Underground mineable
(below 500 metre depth). |
*AuEq = gold equivalent and values were
calculated at 60 to 1 (silver price to gold price) ratio and
metallurgical recoveries and net smelter returns are assumed to be
100%. |
* Mineral Resources are not Mineral
Reserves and do not have demonstrated economic viability. |
Burns Block Additional Discovery Potential:
The Burns Block is 80 acres in size and the majority of drilling
has been concentrated on the western and eastern sides of the
property. The central part of the property requires additional
testing. The resources that have been identified cross the property
boundaries onto the adjacent ground held by New Gold to the west
and to the east.
Specific targets remain for additional discovery on the Burns
Block. These targets can be grouped into four categories:
- Western Burns Zone: Additional drilling at depth on the Western
Burns high grade zone would help fill in large holes in the model
that have not been assigned a grade, due to a lack of data.
- East Burns - Intrepid Zone: Approximately 120 metres of strike
length potential of the southwest plunging East Burns - Intrepid
high grade zone remains untested along the southeast to
south-central portion of the Burns Block.
- Central Burns Block Main Zone: Several holes collared in the
sparsely drilled central portion of the Burns Block property have
intersected 5 to 15 metre wide zones of low grade to gram level
gold mineralization hosted within the sheared, foliated quartz
porphyry dacite. These intersections have not been followed up and
present the potential of being associated with additional
undiscovered shoots of higher grade mineralization.
- Mineralized zones in both the hanging wall and footwall of the
Main Zone: Completed drilling clearly shows the presence of
multi-gram gold and silver mineralization in positions above and
below the Main Zone. Several wide, significant mineralized zones
lying below the Main Zone have been intersected but remain
completely open due to lack of drilling. These targets are
concentrated in the under explored central portion of the
property.
Burns Block Geology and Mineralization:
Extensive gold-silver mineralization has been outlined on the
Burns Block. Recent interpretations for the geology and genesis of
gold mineralization on the Burns Block suggest an early,
volcanogenic-associated model. Primary rock units in and around the
deposit include dacitic flows and sedimentary volcaniclastic
deposits. Additional data from exploration drilling showed that
gold mineralization at the Burns Block has a strong gold-pyrite
association, including ubiquitous sphalerite, and a very high ratio
of silver to gold. There appear to have been two stages of gold
mineralization in the Burns Block. The first (low to moderate
grade) gold mineralization was associated with the emplacement of
sulphide (pyrite-sphalerite-chalcopyrite) as veins and
disseminations in dacite rocks. A later (high-grade) gold
mineralization event included the emplacement of
quartz-pyrite/chalcopyrite-gold veins and veinlets.
NI 43-101 Technical Report and Mineral Resource Estimate
Summary:
As part of the study leading up to the report, the following
data were obtained:
- Duplicate samples from core of low grade, medium grade and high
grade mineralization.
- A large check sampling program was done by sending the coarse
reject portion of samples of low grade, medium grade and high grade
mineralization to an independent lab for confirmation check
assaying.
- A rock density study from drill core was done including 400+
measurements.
- A compilation of detailed core photos of high grade
mineralization intervals was prepared as a guide to high grade
mineralization mineralogy and veining styles.
Riverbend was provided with all geologic mapping and
stratigraphic data, logging data, original lab assay data and all
core photography. Riverbend additionally acquired publically
available technical reports, including NI 43-101 resource reports,
filed by Rainy River Resources detailing study results for
mineralized areas immediately west and east of the Burns Block.
Riverbend then proceeded to compile all data in order to proceed
with the initial NI 43-101 compliant resource estimate. The result
of the compilation and detailed computer based spatial study of the
gold and silver mineralized zones at the Burns Block resulted in
the identification of both Indicated and Inferred resource
categories. Additionally, it was decided by Riverbend to separate
the near surface, potentially open pit mineable mineralization from
deeper, potentially underground mineable mineralization.
Riverbend selected separate cut-off grades for the shallow
mineralization (<500m from surface) vs. the deeper
mineralization (>500m from surface). A lower cut-off grade of
0.35 g/t AuEq was applied for the shallow, potentially open pit
mineable mineralization. For potentially underground mineable
mineralization, a much higher value for the cutoff grade of 2.5 g/t
AuEq was selected to reflect the higher costs associated with
typical underground development. For the purposes of the NI 43-101
Mineral Resource Estimate calculation, AuEq (gold equivalent)
values are calculated at a 60 to 1 (silver price to gold price)
ratio and metallurgical recoveries and net smelter returns are
assumed to be 100%. These lower cut-off values for potential open
pit and for potentially underground mineable mineralized zones are
essentially identical to those used by Rainy River Resources for
modeling of mineralized zones immediately adjacent to the Burns
Block.
The results of resource calculations using the above stated
cut-off grades are presented in the chart above. Note that the
calculated resources listed above are separated into Indicated and
Inferred categories and additionally into Potentially Open Pit
Mineable (POP) and Potentially Underground Mineable (PUG)
categories. Also note that no detailed economic mining parameters
have been established for any of the mineralized zones at the Burns
Block. The establishment of true economic parameters for estimating
the potential to profitably mine any of the resources will require
additional data collection and study which were beyond the scope of
the current NI 43-101 resource report.
Cliff Duke P.Eng., principle of Riverbend Geological Services
Inc., completed the Independent NI 43-101 Technical Report and
Mineral Resource Estimate for the Burns Block and is an Independent
and Qualified Person as defined by Regulation 43-101.
For additional documentation of the data and methodology used to
establish the estimated resources in the above table please refer
to the full report on SEDAR dated December 20, 2013: BURNS BLOCK NATIONAL INSTRUMENT 43-101
COMPLIANT TECHNICAL REPORT. The report will be filed on
www.sedar.com within 45 days.
"B" Block Discovery Potential:
In other news, Bayfield has commissioned Riverbend Geological
Services to complete an independent NI 43-101 compliant Technical
Report on the Company's "B" Block property.
The mine trend rock package is sharply deflected to the NNE
along the western margin of the Black Hawk Stock and has been
confirmed by Bayfield Ventures during limited 2013 diamond drilling
on the "B" Block property. Logging results from diamond drill holes
completed by Bayfield confirm the presence of iron formations,
argillite units, hornfelsed, mafic tuffaceous sediments and well
foliated quartz porphyry dacite intrusive rocks at the "B" Block
property.
Rainy River Geological Map of the Burns Block and "B" Block:
http://www.bayfieldventures.com/i/maps/RRDGeo_BurnsAndBBlock.jpg
Bayfield has discovered relatively narrow zones of multi-gram
gold-silver mineralization over a large portion of the southern and
central portions of the 480 acre property. These well mineralized
intervals occur within wide envelopes of lower grade mineralization
and are mineralogically and texturally very similar to the
mineralized zones at the Burns Block property.
The interpreted high potential for additional gold-silver
discoveries at the "B" Block results from encouraging results in
completed drilling as well the close proximity of the "B" Block to
both the near surface portion of New Gold's Intrepid Zone and to
the Burns Block property. "B" Block drilling has been shallow and
the property is essentially unexplored below 250 metres from
surface. The combination of very favourable geology and the known
presence of gold-silver-copper-zinc mineralization make the "B"
Block a very high quality target area for further discoveries
through detailed exploration.
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.
Quality Assurance:
Drill core analysis and assaying has been 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.
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold and silver in the
Rainy River District of north-western Ontario. Bayfield Ventures
goal is to increase shareholder value by developing exploration
projects near world-class deposits that have the potential of
becoming new discoveries.
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
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.
Bayfield Ventures Corp.James G. PettitChairman and
CEO604-687-3376, Toll Free:
800-567-8181604-687-3119info@bayfieldventures.comBayfield Ventures
Corp.Don MyersDirector604-687-3376, Toll Free:
800-567-8181604-687-3119info@bayfieldventures.comwww.bayfieldventures.comEnvoy
Strategic Partners Investor RelationsJay
Bedard416-977-7778jay@envoystrategicpartners.com
(TSXV:BYV)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
(TSXV:BYV)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024