Wednesday, 25 July 2012

Bayfield Ventures expands eastern Burns Block area in Ontario

Bayfield Ventures Corp. (CVE:BYV) (OTC:BYVVF) unveiled Wednesday additional results from drilling in the eastern portion of its Burns Block property in northwestern Ontario.

The company's 100 per cent owned Burns Block gold-silver project is located in the Rainy River District of north-western Ontario and is situated adjacent to the east and on strike to Rainy River Resources' (TSE:RR) multi-million ounce gold-silver deposit.

The miner reported today results from five holes that targeted potential extensions of the recently discovered East Burns mineralized zone, as well as one infill hole.

The East Burns gold-silver zone is the easterly strike extension of the main ODM17 gold-silver zone, which constitutes the bulk of Rainy River Resources' deposit and Bayfield's high grade gold-silver zones, which sit 600 to 700 metres to the west.

Highlights from the latest results include hole RR12-15, which intercepted 7.5 metres of 1.77 grams per tonne (g/t) gold and 6.32 g/t silver, and hole RR12-16, which hit 12.0 metres of 1.33 g/t gold.

Mineralization is being found "within a 50 to 70 metre wide zone of shearing, sericite-silica alteration and polymetallic base metal sulfide mineralization", Bayfield said in the release.

It also said this eastern area zone of mineralization remains open down dip and down the interpreted south-southwest plunge,  adding that the zone is also open onto Rainy River's lands to the east.

Infill holes are currently being drilled with assays pending.

Bayfield noted that the assay results reported today show that gold and silver mineralization continue down dip at the eastern zone but have become "more disseminated in style and thus of lower grade."

The company said it is apparent now that the higher grade intervals reported from several previous holes are likely lying within low angle plunging mineralized shoots - a pattern seen in the west Burns Block area as well.

This has helped Bayfield identify additional drill targets in both the east and west Burns area that will be tested in the future, the miner added.

More exploration drilling of the down dip extension of the east Burns zone is planned once a program of infill drilling and western extension of the central portion of this new zone is completed.

Bayfield is fully funded to finish its planned 100,000 metre diamond drill program with drilling concentrated on the flagship Burns Block project. The company has 70.3 million shares outstanding and has over $4 million in its treasury.

No comments:

Post a Comment