Robust Gold Intersection Recorded on the Bayfield "Burns Block" Another New Gold Zone Emerging Along Rainy River's 17 Gold Trend
September 16 2008 - 9:00AM
Marketwired Canada
Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company")
announces that Nelson W. Baker, President and CEO of Rainy River Resources Ltd.
(TSX VENTURE: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, approximately 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.
Table I
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(1) 524.0 528.5 4.5 4.62 -400
NR08-189(1) 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.
(1) 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, President
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.
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