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 surrounded byNew Gold's (TSX: NGD) Rainy River project and adjoins the immediate east of New Gold's multi-million ounce ODM17 gold-silver deposit and adjoins the immediate west of New Gold's expanding Intrepid gold-silver zone.
Drilling to date on the Western Burns Zone on 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 has recently been focused on drilling the high grade gold-silver East Burns - Intrepid Zone discovered on the eastern side of the Burns Block. Bayfield has been drill testing the up and down-plunge extension of this expanding mineralized zone which is projected to be the down-dip portion of New Gold's (previously Rainy River Resources) 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 25.5 metres including 11.06 grams per tonne gold and 57.05 grams per tonne silver over 15.0 metres in hole RR12-34W1, 13.46 grams per tonne gold and 46.55 grams per tonne silver over 7.3 metres in hole RR12-30, and 12.19 grams per tonne gold and 30.05 grams per tonne silver over 11.9 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 (TSX: NGD) feasibility study dated November 2, 2013 shows a mineral resource, in relation to a conceptual open pit shell to 500 metres depth at a gold cut-off of 0.30 grams per tonne for open pit resources and a gold cut-off value of 2.5 grams per tonne for underground resources below 500 metres depth. Globally, the deposit contains Measured and Indicated mineral resources suitable for direct processing, from mine to mill, of 106 million tonnes at 1.54 grams per tonne gold and 2.88 grams per tonne silver, representing 5.2 million ounces of gold and 9.8 million ounces of silver. In addition, the open pit Measured and Indicated mineral resources suitable for stockpiling and future processing total 71 million tonnes at 0.43 grams per tonne gold and 2.09 grams per tonne silver, representing 1.0 million ounces of gold and 4.8 million ounces of silver.
Bayfield also holds a 100% interest in the mineral rights to the "B" Block property. The 480 acre "B" Block is well located and adjoins the immediate north of New Gold's expanding Intrepid gold-silver zone and to the north-east of Bayfield's Burns Block gold-silver deposits. 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. The Company's Rainy River properties are ideally located with easy access to roads and power. Ontario has low political risk and the Rainy River District has skilled labour and is one of the lowest-cost areas for mineral exploration and development in Canada.