Bayfield Completes NI 43-101 Technical Report on its Rainy River
"B" Block Gold-Silver Property, NW Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 18, 2014) -
Bayfield Ventures Corp.
(TSX-VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) is pleased to
announce the completion of a National Instrument (NI) 43-101
Technical Report on the Company's 100% owned mineral rights "B"
Block gold-silver property, Rainy River district, north-western
Ontario. The 480 acre "B" Block property is well located and
adjoins to the north of New Gold's expanding Intrepid gold-silver
zone and to the north-east of Bayfield's Rainy River Burns Block
gold-silver deposits.
Rainy River
District Claims Map:
http://www.bayfieldventures.com/i/maps/BYVRRMapwopit.jpg
On January 23, 2014, Bayfield filed on SEDAR an Independent
Mineral Resource Estimate on the Company's flagship Rainy River
Burns Block project dated January 14, 2014, entitled "BURNS BLOCK
NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT" prepared by
Riverbend Geological Services Inc. This Report can be found on the
Company website or under the Bayfield's profile at
www.sedar.com.
Rainy River
District Gold Zones:
http://www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg
SUMMARY OF "B" BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT
TECHNICAL REPORT
Bayfield Ventures Corp. has prepared this Technical Report
detailing precious metal exploration results on its "B" Block
property in the Rainy River District of NW Ontario.
Drilling on the "B" Block property has resulted in the discovery
of wide spread gold-silver-zinc-copper mineralization. No mineral
resource calculations have been done on the property. Drilling to
date has been relatively wide spaced and shallow. All known
mineralized intercepts lie within 400 metres of surface. Less than
5% of the drilling on the property has been done below the 400
metre below surface level.
The property is positioned in the eastern portion of the
developing Rainy River district. The south edge of the property is
located approximately 350 metres north of the near surface position
of the Intrepid shoot, located on ground controlled by New Gold.
The Intrepid shoot is a SW plunging, robust zone of gold-silver
mineralization that has been jointly delineated by Bayfield
Ventures and Rainy River Resources since its discovery by Bayfield
in December 2011.
Mineralization on the "B" Block is contained within a package of
NNE striking, vertically dipping, strongly foliated, sheared and
locally folded dacite porphyry wall rocks. Pervasive
sericite-silica +/- biotite alteration is developed within the
dacite package. Sericite is dominant in the southern half of the
property while biotite and silica are well developed in the
northern portion.
The interlayered dacite porphyry, argillite and mafic volcanic
lithology of the known rock package at the "B" Block are very
similar to that found by Bayfield at its nearby Burns Block
property. Additionally, discovered gold-silver-base metal
mineralization at the "B" Block is hosted within highly foliated
dacite intrusive and or volcanic rocks, again, a setting very
similar to that at the Burns Block and at other well mineralized
zones along the developing district-scale trend.
The compilation of geologic data from OGS mapping with
Bayfield's exploration drilling data strongly indicates that the
main district gold-silver hosting structures and lithologies are
strongly warped to the NE in a position immediately east of the
Burns Block and then strike NNE directly through the "B" Block
property.
Rainy River
Geological Map of the Burns Block and "B" Block:
http://www.bayfieldventures.com/i/maps/RRDGeo_BurnsAndBBlock.jpg
Striking similarity between the complied current "B" Block data
and Burns Block data prior to the start of Bayfield's aggressive
drilling program at Burns are readily apparent. Important
similarities include:
- Precious Metal - Base Metal Mineralization Hosted by Foliated
and Sericite Altered Dacite Porphyry Units.
- Wide Intervals of sub gram to gram level Au-Ag mineralization
with accompany base metal sulfide stringers and dense
disseminations.
- Local metre to multi metre scale intervals of multi gram Au and
Ag mineralization.
- Close proximity to known measured, indicated and inferred Au
and Ag resources.
These similarities together indicate a highly favorable
environment for the discovery of higher grade shoots of
mineralization similar to the Intrepid Zone or higher grade shoots
discovered by Rainy River within the ODM 17 Zone. The southern edge
of "B" Block is located approximately 350 metres north of the
surface portion of the Intrepid Shoot.
Given the setting and exploration results to date, it is
recommended that additional shallow and deep drilling be done in
the SW quadrant of the "B" Block. Specifically, drilling is
recommended to continue the delineation of the shallow level, wide
zones of precious metal - base metal mineralization intersected in
holes B12-6 and B13-1, as well as to begin the process of following
this robust zone to depth. The justification for the recommendation
is the interpreted very good discovery potential for multi metre
wide zones of high grade gold-silver mineralization.
Additionally, the drilling of a series of NW trending angle
holes across the SW flank of the strong VTEM anomaly in the
northern portion of the "B" Block property is also recommended.
Drilling in the heart of the anomaly completed in 2013 showed a
rock sequence nearly identical that which overlies the Intrepid
Shoot in the eastern portion of Bayfield's Burns Block project.
For additional documentation of the data used in the Technical
Report please refer to the full report on SEDAR dated February 14,
2013 and titled: "B" BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT
TECHNICAL REPORT. The report will be filed on www.sedar.com within
45 days.
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 Report and 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 |
|
"Jim
Pettit" |
|
|
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.
James G. PettitChairman and CEOBayfield Ventures Corp.Telephone:
604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Don
MyersDirectorBayfield Ventures Corp.Telephone: 604-687-3376 / Toll
Free: 800-567-8181Facsimile: 604-687-3119Email:
info@bayfieldventures.comOther Contact:Envoy Strategic Partners
Investor RelationsJay BedardTelephone: 416-977-7778Email:
jay@envoystrategicpartners.com
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