UPDATE: Bayfield Reports Drill Results from Rainy River, NW Ontario; Shares Pare Earlier Gains

By Midnight Trader,  January 10, 2013, 02:51:11 PM EDT

Bayfield Ventures Corp. (BYV.V) today announced additional assays from the continuing exploration of its 100% owned Burns Block gold-silver project. The Company's Burns Block project is located in the Rainy River District of north-western Ontario and is situated adjacent to the east of Rainy River Resources' (RR.TO) main multi-million ounce gold-silver deposit and to the west of their expanding Intrepid gold-silver zone.

East Burns - Intrepid Zone Highlights:

Hole RR12-34W1 intersected 25.50 metres grading 6.60 g/t Au and 34.20 g/t Ag including 15.00 metres of 11.06 g/t Au and 57.05 g/t Ag.

The combination of results from holes RR12-34W1 and RR12-35 continue to show that the down plunge extension of the East Burns - Intrepid Zone mineralized zone continues to the southwest on the Burns property.

The approx. 15 metre offset distance between holes RR12-34 and RR12-34W1 shows that continuity of the >10 g/t gold mineralization is excellent.

The assay results of hole RR12-35 indicate that four distinct zones of gold and silver mineralization exist in the eastern portion of the Burns property. A 1.5 metre assay of 196 g/t Ag was returned from one of the shallow zones in this hole.

BYV is now 11% higher at 42 cents, cutting earlier gains. Day range is $0.38-$0.45.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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