Bayfield Ventures drills 61.02 g/t gold over 7.2 metres at Burns Block property

Bayfield Ventures (CVE:BYV) announced Tuesday further high grade gold and silver intercepts from its Burns Block property in the Rainy River District of north-western Ontario.
Burns Block is located to the east and on strike to Rainy River Resources’ (TSE:RR) multi-million ounce gold deposit.
Investors cheered the results, with shares of the company rising over 22 percent to 55 cents as of 12:02pm ET.

The company drilled east-to-west oriented infill holes in the northwest area of the property to test for the lateral and vertical continuity of the bonanza grade gold and silver mineralization found in previous hole RR11-71 of 11.2 metres at 60.05 grams per tonne (g/t) of gold and 362.96 g/t silver.

Highlights of the latest results include hole RR11-180, which returned 30 metres grading 12.98 g/t of gold, including 5 metres of 64.66 g/t gold at a vertical depth of 40 metres.

Meanwhile, hole RR11-181 intersected 33 metres at 13.73 g/t gold, including 7.2 metres of 61.02 g/t gold, while hole RR11-182 hit 12.00 metres of 9.53 g/t gold and 31.35 g/t silver.

The company said the total vertical distance between these three holes within the high grade zone is roughly 12 metres, with significant east-west continuity ranging from 7.2 to 30 metres. The high grade gold and silver zone is near surface and well above 100 metres vertical depth, Bayfield added.

A fourth infill hole also returned 15 metres of 2.89 g/t gold and 23.02 g/t silver in a separate zone to the west.

Bayfield said that three dimensional modeling of these near-surface intercepts is underway, and will be extended to include the total width along the north and far north fences, for which mineralization of greater than 5.0 g/t gold has been discovered.

Silver assays for the reported holes have only partially been received, said the company, with assays for 16 additional holes also still pending.

The company said more drilling is needed to define both the upper and lower extents of high grade mineralization, which contains both gold-rich and silver-rich portions as well as intercepts that are "very rich" in both gold and silver.

In addition, current drilling near the east boundary of the Burns Block is being carried out to test the high magnetic geophysical anomaly reported last December. Assays are pending.

Bayfield still plans a further 35,000 metres of diamond drilling on its Rainy River properties with the bulk of this drilling to be carried out on the Burns Block. Contracting of a third rig to conduct exploration of the large C Block is still on slate for either this year or early next.