Bayfield Ventures Corp. (TSX-V: BYV) is exploring for gold and silver in the Rainy River district of northwestern Ontario.
Bayfield owns 100% of the mineral rights to its flagship "Burns" Block gold-silver project located in the Richardson Township, Rainy River District of northwestern Ontario. The Burns Block is located adjacent to the east of New Gold's (TSX: NGD) multi-million ounce Rainy River gold-silver deposit and adjacent to the west of New Gold's expanding Intrepid gold-silver zone.
Drilling to date on the Western Zone of the Burns Block demonstrates that the main ODM17 gold-silver deposit extends from New Gold's ground adjacent to the west onto Bayfield's Burns Block. Notable drill results from Bayfield's ongoing 100,000 metre drill program include 60.05 grams per tonne gold and 362.96 grams per tonne silver over 11.2 metres in hole RR11-71, as well as 35.93 grams per tonne gold and 359.65 grams per tonne silver over 10.0 metres in hole RR10-18 located approximately 350 metres to the south with numerous high grade holes drilled in between.
The Company is currently focused on drilling the high grade gold-silver East Burns - Intrepid Zone discovered on the eastern side of the Burns Block. Bayfield continues to drill test the up and down-plunge extension of this expanding mineralized zone which is projected to be the down-dip portion of New Gold's newly discovered Intrepid Zone. Notable early results from the zone include 6.60 grams per tonne gold and 34.20 grams per tonne silver over 25.50 metres including 11.06 grams per tonne gold and 57.05 grams per tonne silver over 15.00 metres in wedge hole RR12-34W1, 5.45 grams per tonne gold and 20.63 grams per tonne silver over 19.60 metres in hole RR12-30, and 12.19 grams per tonne gold and 30.05 grams per tonne silver over 11.90 metres in hole RR 13-07.
Bayfield Ventures is consistently proving up high grade gold and silver zones as well as lower grade, bulk tonnage gold and silver mineralization on the Burns Block property.
New Gold's (previously Rainy River Resources) October 2012 NI 43-101 resource calculation shows a measured and indicated resource of 6.17 million ounces of gold averaging 1.21 grams per tonne gold, in addition to an inferred resource of 2.28 million ounces of gold averaging 0.75 grams per tonne gold. New Gold (Rainy River Resources) considers that the material above the final depth of the conceptual pit shell (500 metres vertical depth) offers reasonable prospects for economic extraction from an open pit using a cut-off grade of 0.35 grams per tonne gold. The deposit also contains a measured and indicated resource of 13.34 million ounces of silver averaging 2.62 grams per tonne silver, in addition to an inferred resource of 6.98 million ounces of silver averaging 2.32 grams per tonne silver.
Bayfield also holds a 100% interest in the mineral rights to the "B" Block property. The 480 acre "B" Block is well located north of New Gold's expanding Intrepid gold-silver zone and to the east of New Gold's 433 gold-silver deposit. To the west, Bayfield has earned a 100% interest in the strategically located 1,976 acre Rainy River "C" Block property.
All of Bayfield's properties cover similar lithologies and structures to those hosting the gold and silver zones comprising New Gold's multi-million ounce gold-silver deposit.
Bayfield Ventures Corp's goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.