Robust Gold Intersection Recorded on the Bayfield “Burns Block”; Another New Gold Zone Emerging Along Rainy River’s 17 Gold Trend; Nr08-283 Intersects 4.5 Metres Grading 7.34 G/T Gold
Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the “Company”) announces that Nelson W. Baker, President and CEO of Rainy River Resources Ltd. (TSX-V: RR) reports that another new gold zone is emerging along the 3.5 km long 17 Gold Trend. This trend, which has been systematically explored for a 1.6 km strike length, hosts the Beaver Pond, ODM and 17 Zones and now the 17 East Zone. Similar to the new discovery announced in Rainy River’s September 9th, 2008 release, the 17 East Zone lies in an area of thin overburden and extensive bedrock outcrops outside the previously interpreted eastern margin of the main caldera anomaly, one of Canada’s largest gold footprints. The first indications of the 17 East Zone were obtained late last year in hole NR07-189 (news release dated October 15, 2007) but the zone was not pursued at that time because the surface outcrops are not anomalous in gold. The newest intersection, in Hole NR08-283, extends the zone further east onto the “Burns Block”, 100%-owned by Bayfield Ventures Corp. (TSX-V: BYV). Under an option agreement, Rainy River has the right to earn a 60% interest in the Burns Block property over a 3-year period by incurring $1 million in exploration expenditures in each year during the term of the option (news release dated December 3, 2007).
Rainy River Ontario Claims Map: http://www.bayfieldventures.com/i/maps/BYV-RR-New-Area-All.gif
Hole NR08-283, a 42 m step-out east of NR08-258 (news release July 29, 2008), was collared near the eastern boundary of Rainy River’s property but deviated eastward where, approximately 30 metres inside Bayfield’s “Burns Block” at the -420 m level, it intersected a 4.5 m interval grading 7.34 g/t Au. Hole NR08-258 intersected 10.5 m grading 2.83 g/t Au and NR07-189, ~150 further west, intersected 9.0 m grading 6.64 g/t Au. The strike length of the 17 East Zone is now 190 metres and the zone remains open in all directions. The details of the mineralized intervals for holes NR08-283, NR08-258 and NR08-189 are highlighted in Table I below and the hole locations will be posted on Rainy River’s website www.rainyriverresources.com .
+——————————————————–+ | Hole | From | To | Width | Au | Level (m) | |—————————-+—————————| | (m) | (m) | (m) | (g/t) | |—————————-+—————————| | NR08-283 | 501.5 | 506.0 | 4.5 | 7.34 | -420 | |———–+——–+——-+——-+——-+———–| | NR08-258* | 524.0 | 528.5 | 4.5 | 4.62 | -400 | |———–+——–+——-+——-+——-+———–| | NR08-189* | 454..0 | 458.5 | 4.5 | 11.91 | -375 | +——————————————————–+
Two of the four rigs actively drilling within the large gold footprint have now been mobilized to Bayfield’s Burns Block. One will be dedicated to the northern part of the property and the second rig, which is capable of drilling greater than 1000-metre holes, will continue to define the 17 East Zone both up-plunge and along strike.
Nelson Baker, President of Rainy River remarked: “This marks the second important new gold discovery for Rainy in the space of a few weeks. Both occur in an area that was previously thought to be outside of the large gold footprint. This is truly an unusual gold project with so much upside potential for additional discoveries”.
Rainy River’s exploration program is being managed by Project Manager, Wally Rayner, P. Geo., a Qualified Person within the meaning of NI 43-101. C.J. Baker, M.Sc., the Company’s regional exploration manager, is responsible for supervising the Off Lake area exploration program. Nelson W. Baker, P.Eng., is the Qualified Person for the project and the person responsible for the contents of this news release. Rainy River has implemented a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. The procedures of the QA/QC program are detailed on Rainy River’s website at www.rainyriverresources.com.
Bayfield Ventures Corp. is actively involved in the exploration for gold in Northwestern Ontario. Property partners include Rainy River Resources and Goldcorp.
For further information on Bayfield Ventures Corp. (TSX-V: BYV), visit the Company’s web site at www.bayfieldventures.com.
About Rainy River Resources Ltd. Rainy River Resources is a Canadian precious metals exploration company whose key asset is the Rainy River gold project. With approximately $33 million treasury, the Company is well funded to conduct an aggressive, year-round resource definition drilling program and regional drill testing of high-priority gold targets. The Company’s property is extremely well located in western Ontario near the U.S. border. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development.
*Previously released Note: All intersected widths are estimated to be true width intervals and all gold values listed above are uncut.
ON BEHALF OF THE BOARD OF DIRECTORS
Donald C. Huston
For further information contact myself or: Stan Fiddis Director Bayfield Ventures Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: firstname.lastname@example.org
THE TSX VENTURE AND FRANKFURT STOCK EXCHANGES HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS PRESS RELEASE.
This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
Copyright Copyright Hugin AS 2008. All rights reserved.
SOURCE: Bayfield Ventures Corp.