Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (OTC Pink: BYVVF) (Frankfurt: B4N) is pleased to have completed an initial National Instrument ("NI") 43-101 Compliant Technical Report and an Initial Mineral Resource Estimate for the Company’s Gold Announce Burns Block Silver Project in the Rainy River Mining District of northwestern Ontario. The Burns Block Project is surrounded by New Gold's (TSX: NGD) Rainy River Project and is directly east of New Gold's multi-million-ounce gold-silver deposit, ODM17. In addition, Burns Block is adjacent to the western edge of New Gold's expanding Intrepid gold-silver zone.
Gold zones in the mining district of Rainy River:
http://www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg
Site plan with properties in the Rainy River region:
http://www.bayfieldventures.com/i/maps/BYVRRMapwopit.jpg
Jim Pettit, CEO of Bayfield, said, "We are delighted to announce our first resource estimate for the strategic Burns Block project. This estimate reflects the quality and location of our resource and its growth potential. The Bayfield team realized early on that Burns Block's mineralization had developed in two phases: an early phase in which low-grade material was deposited and a later stage in which high-grade material was deposited. Our drilling focused on the later phase material, resulting in the discovery of two high grade zones in the east and west of the property respectively. This decision proved appropriate after New Gold's plan for the Rainy River Mine continued to pursue civil engineering, helping to raise the overall maximum mine plan. The Burns Block project is still open at depth and only limited investigations have been carried out in the central part of the concession area between our two high grade zones. Our average grade of underground resource is 7 grams of gold per ton. Given the proximity to New Gold's deposits and the quality of our high grade underground resource, as well as the fact that our resources cross the fringes of the property, Bayfield believes its real estate and resources are of significant strategic value. "
Highlights of the NI 43-101-compliant Technical Report and the Burns Block Mineral Resource Estimate:
• An independent NI 43 101 compliant technical report and mineral resource estimate were prepared by Riverbend Geological Services ("Riverbend"). The report applies to the 20. December 2013 and is entitled "BURNS BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT".
• The NI 43-101 Compliant Technical Report and Mineral Resource Estimate keep both Indicated and Inferred resources near surface (<500 meters depth, with a cutoff grade of 0,35 gold equivalent ("AuEq")) and at lower altitudes ( Depth of> 500 meters; cut-off grade of 2,5 g / t AuEq).
• The displayed resources were jointly estimated on 71.385 ounces of AuEq (gold and silver), the inferred resources on 176.654 ounces of AuEq.
• The near surface (depth <500 meters from surface) Indicated Resources are estimated to include 1,25 million tonnes grading 1,0 g / t Au and 14,7 g / t Ag corresponding to 39.928 ounces of Au and 591.954 ounces of Ag . The Inferred Resources comprise 2,79 million tonnes grading 1,2 g / t Au and 14,4 g / t Ag corresponding to 104.121 ounces Au and 1.293.763 ounces Ag.
• The lower-lying (> 500 meters deep from surface) Indicated Resources are estimated to be 79.000 tonnes grading 7,9 g / t Au and 37,0 g / t Ag corresponding to 20.029 ounces of Au and 93.716 ounces of Ag. The deep inferred resources again comprise 195.000 tonnes grading 7,4 g / t Au and 43,0 g / t Ag corresponding to 46.475 ounces Au and 269.708 ounces Ag.
• The NI 43 101 compliant Technical Report and Mineral Resource Estimate suggests the need for further exploration drilling at the center of the Burns Block Property and further demolition drilling at the Western Burns and East Burns - Intrepid zones, part of the Property.
Tabular list of mineral resource estimate
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/BayfieldVentures_140114_Deutsch.pdf
Further discovery potential with Burns Block:
Burns Block covers an area of 80 Acres. Most of the drilling focused on the eastern and western portions of the property. The central portion of the property requires further investigation. The demarcated resources extend across the concession boundaries, except for land owned by New Gold in the West and East.
Burns Block continues to have special targets with more discovery potential. These destinations can be divided into four categories.
1. Western Burns Zone: Further deep drilling in the high-grade Western Burns zone would help fill larger gaps in the model, which were not assigned a salary due to lack of data.
2. East Burns - Intrepid Zone: Approximately 120 meters of potential strike length of the southwest invading East Burns - Intrepid area in the southeast and south central portions of the Burns Block property have not been investigated.
3. The Main Zone in the Center of Burns Block: Several holes in the central portion of the Burns Block property, where only a few holes have been drilled to date, intersected 5 to 15 meters of massive zones of low grade gold mineralization to concentrations of several grams. These sections are embedded in the crushed quartz porphyry-dacite shear zone. These sections have not been followed so far, but they have the potential to be associated with more undiscovered high-grade mineralized foothills.
4. The mineralized zones at the top and bottom of the main zone: The drilled holes clearly indicate the presence of gold and silver mineralization at levels of several grams above and below the main zone. Below the main zone, several powerful, significant mineralized zones were intersected; Due to the lack of drilling, these are still completely open for expansion. These objectives are primarily in the under-explored center of the property.
Geology and mineralization at Burns Block:
The Burns Block Property has been demarcated from extensive gold-silver mineralization. Recent interpretations of the geology and origin of gold mineralization at Burns Block suggest an early volcanogenic model. The primary rock units in the deposit and their vicinity include dacite and volcanoclastic sediment deposits. Further data from the exploratory drillings showed that Burns Block gold mineralization has a strong gold-pyrite compound, including high-abundance sphalerite, and a very high silver-to-gold ratio. The gold mineralization at Burns Block appears to have been formed in two phases. The first gold mineralization phase (low to moderate grade) involved the deposition of sulphides (pyrite-sphalerite-chalcopyrite) in the form of veins and fissures in the dacitic rocks. The later gold mineralization phase (high grade) involved the formation of quartz-pyrite / chalcopyrite-gold veins and veins.
Summary of NI 43 101 Technical Report and Mineral Resource Estimate:
As part of the investigations that led to the report, the following data were collected:
1. Secondary samples of mineralized drill core with low, moderate and high content.
2. Using the coagulation effluents of the low, moderate, and high-content mineralized samples sent to an independent laboratory for testing, a comprehensive control program of the samples was performed.
3. The rock density of the core was studied using 400 + measurements.
4. All detailed photos of the core with high grade mineralized intercepts have been compiled as a guide to the mineralogy and vein types of high grade mineralization.
Riverbend received all geological survey and stratigraphic measurements, survey data, original laboratory analysis results, and all core photos. Riverbend also purchased all publicly available technical reports, including NI 43 101 compliant resource reports submitted by Rainy River Resources, which covered mineralized area assay results directly to the west and east of Burns Block.
Riverbend then captured all available data to proceed with the first NI 43-101 compliant resource estimate. The results of the data collection and the in-depth computerized spatial investigation of the gold and silver mineralized zones at Burns Block led to delineation of resources in both the indicated and inferred resource categories. In addition, Riverbend decided to separate the near-surface, potentially open pit mineable mineralization from the deeper, potentially mineralized mineralization.
Riverbend determined separate cutoff grades for the near surface mineralization (<500 meters from surface) and the deeper mineralization (> 500 meters from surface). A lower cutoff grade of 0,35 g / t AuEq was used for the near-surface mineralization that could potentially be mined in open pit mining, while a significantly higher cutoff grade of 2,5 g / t AuEq was selected for the mineralization potentially minable in underground mining. to take account of the higher costs usually associated with underground development. For the purpose of calculating the NI 43-101 compliant mineral resource estimate, the AuEq values were calculated on the basis of a silver-gold price ratio of 60 to 1, assuming metallurgical recovery rates and net smelter returns of 100%. The cutoff grades for both the open pit and potentially underground mineralized zones are substantially the same as those used by Rainy River Resources to model the mineralized zones in the immediate vicinity of Burns Block.
The results of the resource estimates using the above cutoff levels are listed in the table above. Please note that the calculated resources listed above are divided into both the indicated and inferred resource category, as well as Potentially Open Pit Mineable and Potentially Underground Mineable. Please also note that Burns Block has not yet established detailed parameters for the economics of mining for mineralized zones. Establishing true economic parameters to estimate the potential for profitable resource extraction will require the collection and investigation of additional data beyond the scope of the current NI 43-101 compliant resource report.
Riverbend Geological Services Inc. Cliff Duke (P.Eng.) Completed the independent NI 43 101 compliant technical report and mineral resource estimate for the Burns Block property. He is an independent Qualified Person as defined by NI 43-101.
For a complete listing of the data and procedures used in estimating the resources in the table above, please consult the full report of the 20. December 2013 entitled "BURNS BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT", which will be submitted to XEDUM at SEDAR on www.sedar.com.
Discovery potential at "B" block:
In addition, Bayfield Riverbend commissioned Geological Services to prepare a NI 43 101-compliant technical report for the Company's "B" Block property.
The mine progression of the mine trend is significantly bowed to the north-northeast along the western edge of the Black Hawk floor and has been confirmed by Bayfield Ventures during limited diamond drilling on the 2013 Block "B" concession. Survey results from Bayfield's drilling confirm the presence of iron formations, clay shells, hornfels, mafic tuff-like sediments, and returned quartz porphyry-dazite deposits at the "B" Block property.
Geological map of the Burns Block and "B" Block properties in the Rainy River District:
http://www.bayfieldventures.com/i/maps/RRDGeo_BurnsAndBBlock.jpg
Bayfield has discovered relatively narrow zones of gold-silver mineralization at levels of several grams in much of the south and center of the 480 Acres large property. These mineralized intercepts occur within shells with less pronounced mineralization and, from a mineralogical and structural viewpoint, are very similar to the mineralized zones of the Burns Block property.
The high potential for the discovery of additional gold and silver deposits at "B" Block is due to the encouraging results of the completed wells and the immediate proximity of "B" Block to the near-surface parts of the New Gold Zone Intrepid and the Burns Block Property. The previously drilled holes were flat holes. Below a depth of 250 meters, basically no exploration work has been done on "B" block so far. The combination of the highly favorable geological environment and the well-known gold-silver-copper-zinc mineralization make the "B" Block Property a high quality target for further exploration efforts.
Robert Marvin, P.Geo., CPG, VP Exploration at Bayfield Ventures and Qualified Person under National Instrument 43-101, has overseen both the on-site work and the preparation of the technical information contained in this news release.
Quality Assurance:
Drill core analyzes and investigations are being conducted by ACT Labs of Thunder Bay, Ontario. The laboratory is certified according to ISO / IEC 17025: 2005 (CAN-P-4E). The core is split and sampled by default in 0,5 to 1,5 meter sections. The core samples are assayed for gold using an 30 gram fire assay with AA finish, and values above 5.000 ppb (above the cutoff) are gravimetrically scanned. For samples with values above 5.000 ppb, metallic sieve tests are performed. The silver content of the core samples shall be analyzed with aqua regia and the ICP method or samples with values above 100 ppm (above the limit) using a fire assay or gravimetric analysis. The company has implemented a quality assurance and control program to ensure that sampling and sample analysis are state-of-the-art.
About Bayfield Ventures Corp .:
Bayfield Ventures Corp. is conducting gold and silver exploration in the Rainy River region of northwestern Ontario. Bayfield Ventures' goal is to increase shareholder value by developing exploration projects that have the potential to discover new deposits near prime deposits.
More about Bayfield Ventures Corp. (TSX-V: BYV) is available on the Company's website at www.bayfieldventures.com.
FOR THE BOARD OF DIRECTORS:
"Jim Pettit"
______________________________
James G. Pettit
Chairman & CEO
For further information please contact me or:
Don Myers
Director
Bayfield Ventures Corp.
Phone: (604) 687-3376
Toll Free: 800-567-8181
Fax: (604) 687-3119
Email: ppgad@pucrs.br
Further contacts:
Envoy Strategic Partners Investor Relations
Jay Bedard
Phone: (416) 977-7778
Email: ppgad@pucrs.br
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This news release contains certain statements that may be deemed "forward-looking statements". All statements in this press release, other than historical facts, that relate to events or developments anticipated by the company are forward-looking statements. Although the company's management assumes that the expectations expressed in such forward-looking statements are based on realistic assumptions, such statements are not intended to be a guide to future performance. The actual results or developments could differ materially from those in the forward-looking statements. The company is under no obligation to correct any forward-looking statements in the event of a change in management's forecasts, estimates or perspectives or any other factor. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, market prices, successful exploration and development, continued availability of capital and financial resources, and general economic, market conditions. or business situation. For more information, please refer to the company's public reporting on www.sedar.com.
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Source: IRW-Press.com.
