Bayfield Ventures Corp. (CVE:BYV) unveiled Tuesday additional results from early-stage exploration taking place at the eastern portion of its Burns Block gold-silver property in the Rainy River District of northwestern Ontario.
The asset is situated adjacent to the east and on strike to Rainy River Resources' (TSE: RR) multi-million ounce gold-silver deposit.
Bayfield said a wide shear zone is in the initial stages of exploration at Burns, and appears to be the far easterly strike extension of the main ODM17 gold-silver zone that hosts Rainy River's deposit as well as Bayfield's own high grade gold-silver zones 600 to 700 metres to the west.
Bayfield's results Tuesday are from the mineralized portions of four holes completed during the initial stages of the company's 2012 drilling program at the Burns property, which "clearly show that strong gold mineralization is present over an expanding area, both down dip and along strike at the east Burns Block", the company said.
The current hole being drilled, RR12-5, is a 30 metre easterly step out from hole RR12-3, to test the potential lateral extension of this new discovery area.
Highlights of the results reported today include multi-gram gold and silver intercepts in the southeast corner of the Burns Block property, constituting the new discovery zone.
The first hole, RR12-3, returned 10.5 metres of 3.44 grams per tonne (g/t) gold and 29.16 g/t silver, including 3.7 metres of 7.71 g/t gold and 52.40 g/t silver.
The company said holes RR12-1 and RR12-2 were drilled in positions up-dip from RR12-3, and returned lower gold and silver values, confirming that gold grades are increasing down-dip in the eastern portion of the property.
Holes RR12-3 and RR12-4 returned significant mineralized intervals from the down-dip continuation of discovery hole RR11-205, Bayfield said, "illustrating the increasing tenor of mineralization down-dip in this area of the Burns Block".
The company also said that the mineralization at the eastern Burns area is similar in character to that found by Bayfield in the western portion of the property, where multi-ounce gold and silver material has been intercepted over significant widths.
"Until the discovery hole RR10-15 was drilled in the western Burns in July 2010, the early assays were nearly identical to what is currently being found in the first-pass exploration in the eastern portion of the property," the company explained in a statement.
"It is the opinion of the exploration and management team at Bayfield that additional detailed and down-dip drilling has an excellent chance of producing similar results to that seen on the western Burns Block."
In current hole RR12-5, the company said it found a two metre interval of strongly sericite altered dacite containing local pin point smears of visible gold logged starting at 211.7 metres down hole, with assays still pending. This target represents "excellent near-surface exploration potential", Bayfield concluded.