Bayfield Ventures Corp.

Company News

Mar 8, 2010

RAINY RIVER DRILL PROGRAM CONTINUES ON "BURNS" BLOCK, NW ONTARIO
Read More

Overview

Bayfield Ventures Corp. (TSX-V: BYV) is exploring for gold in the Rainy River and Red Lake districts of Northwestern Ontario. Property partners include Goldcorp.

People

James G. Pettit:
Position: Director, Chairman & CEO
Jim Pettit has been President and a Director of Consolidated Abaddon Resource Inc. since November 2002. Mr. Pettit is currently serving as a Director on the Boards of 8 junior resource companies and offers 15 years experience within the industry specializing in finance, corporate governance, management, and compliance.

He specializes in the early stage development of private, as well as public companies. His background over the past 15 years has been focused primarily within the resource sector where he has managed and directed junior mining companies through good times and bad.

When Mr. Pettit became President of Consolidated Abaddon, the Company was in need of direction. He identified the imbalance in the uranium sector and decided Abaddon was in a perfect position to exploit this opportunity.

Amanda Chow, CMA
Position: Director
Amanda Chow serves as an independent Director of Consolidated Abaddon Resources Inc. Ms. Chow is a Certified Management Accountant (CMA) and a graduate of Simon Fraser University where she earned her Bachelor of Business Administration degree. She began working with public companies in 1999.

Donald C. Huston
Position: Director, President
Don Huston has been associated with the mineral exploration industry for over 25 years and has extensive experience as a financier and in-field manager of numerous mineral exploration projects in North America. He was born and raised in Red Lake, Ontario and spent 15 years as a geophysical contractor with C.D. Huston & Sons Ltd. as mineral exploration consultants in northern Ontario, Manitoba, and Saskatchewan. Mr. Huston serves as a Director of 5 Canadian public resource companies.

Donald G. Myers
Position: Director
Don Myers serves as a Director of Consolidated Abaddon Resources Inc. He has over twenty years of experience in public company management and corporate communications working with companies listed on the TSX Venture, NASDAQ, and Toronto Stock Exchanges. Mr. Myers background includes holding the position of Director and Officer of several junior public companies listed on the TSX Venture Exchange.

Nancy Ackerfeldt
Position: Corporate Secretary
Nancy Ackerfeldt has over twenty years of experience in public company administration and compliance, working primarily with junior public companies listed on the TSX Venture Exchange. From August 1995 to date, Ms. Ackerfeldt has been employed with 98 Corporate Group Resources Ltd., a private management and administrative services company which provides office space, accounting, legal, secretarial and support services to public companies.

David Busch, B.A., B.Sc. (hons), PGeo.
Position: Vice President of Exploration and Qualified Person

Mr. Busch, B.A., B.Sc. (hons), PGeo. serves as Consolidated Abaddon's Vice President of Exploration and one of the Company's qualified person as defined in National Instrument 43-101.

Mr. Busch received his Bachelor of Arts Degree in 1970 and his Honors Bachelor of Science Degree in geology in 1974 from Lakehead University. He has held the positions of Field Geologist from 1974 -- 1976 for Phelps Dodge Corp. of Canada, Project Geologist from 1976 -- 1980 for Brinex Ltd., and Senior Project Geologist from 1980 -- 1982 for Getty Canadian Minerals. While with Getty, Mr. Busch supervised several large-scale uranium projects in Athabasca, Saskatchewan.

Property

"Burns" Claim Block Property
The Bayfield Ventures' "Burns" claim block abuts the eastern boundary of Rainy River Resources (TSX-V: RR) main ODM17 gold zone Richardson Township property in northwestern Ontario. Access to the "Burns" property is attained via numerous all-weather, secondary provincial highways (gravel) and township roads, which lead off of paved provincial highways 11 and 71. These routes traverse the region and provide excellent ingress to the property.

The property is located near the international boundary with Minnesota. The nearest population centre is Fort Frances, 50 km to the southwest. Bayfield's properties lie within the Rainy River Greenstone Belt. This belt is one component of the western part of the Archean Wabigoon Subprovince of the Canadian Shield, a 900 km long east-west trending metavolcanic-metasedimentary domain bordered and intruded by granitoid intrusions of up to batholithic dimensions. The Wabigoon Subprovince is composed of several tectonically bounded assemblages consisting of komatiitic to calc-alkalic metavolcanics overlain by clastic and minor chemical sediments. Intrusion of the granitoid domes has imparted a synformal structural character to the supracrustal rocks, and the central axial zones of many of these synformal belts may be characterized by long sinuous shear / fault zones.



In the fall of 2008, Rainy River Resources, under an option agreement, completed a diamond drill program on Bayfield's "Burns" claim block. Rainy River Resources managed to complete 8 drill holes totaling 3332 metres at a cost of $420,000 on Bayfield's "Burns" property. The "Burns" property drilling concentrated on tracing the strike and extension of the ODM17 gold zone which crosses under highway 600, as well as to trace the down dip of Rainy River's drill hole NR08-280.



Hole NR08-283 was collared near the eastern boundary of Rainy River Resources property but deviated eastward where, approximately 30 metres inside Bayfield's "Burns" property at the -420 metre level, it intersected a 4.5 metre interval grading 7.34 g/t gold. Drill hole NR08-294, targeting the relatively high-grade assay intervals in hole NR08-280, intersected a 4.5 metre interval grading 2.24 g/t gold of the down-dip extension of the zone at the 263 metre level. The holes NR08-296 and NR08-304 targeted the east extension of the ODM17 zone intersected in hole NR08-283. NR08-296 cut a broad 25 metre interval grading 0.89 g/t gold. Hole NR08-304 intersected 43.5 metres grading 0.78 g/t gold including two zones from 178.5 to 183 metres and 204 to 208.5 metres grading 2.0 g/t gold and 3.0 g/t gold respectively.

The option agreement was subsequently terminated when Rainy River Resources failed to spend the required exploration expenditures by November 2008.



Bayfield plans to complete a 2010 winter drill program on the Company's "Burns" Block property located in the Richardson Township, Rainy River District, northwestern Ontario. This initial 2010 winter drill program will consist of a minimum 1000 metres of drilling in 3 holes.

Claim Block "B" Property

The Bayfield Ventures' "B" claim block, totaling approximately 480 hectares, abuts the eastern boundary of Rainy River Resources (TSX-V: RR) main 433 gold zone Richardson Township property in northwestern Ontario. Access to the "Burns" property is attained via numerous all-weather, secondary provincial highways (gravel) and township roads, which lead off of paved provincial highways 11 and 71. These routes traverse the region and provide excellent ingress to the property.

The "B" claim property is located near the international boundary with Minnesota. The nearest population centre is Fort Frances, 50 km to the southwest. Bayfield's properties lie within the Rainy River Greenstone Belt. This belt is one component of the western part of the Archean Wabigoon Subprovince of the Canadian Shield, a 900 km long east-west trending metavolcanic-metasedimentary domain bordered and intruded by granitoid intrusions of up to batholithic dimensions. The Wabigoon Subprovince is composed of several tectonically bounded assemblages consisting of komatiitic to calc-alkalic metavolcanics overlain by clastic and minor chemical sediments. Intrusion of the granitoid domes has imparted a synformal structural character to the supracrustal rocks, and the central axial zones of many of these synformal belts may be characterized by long sinuous shear / fault zones.

Compilations of historic geological and geographical data of exploration work conducted on the claim block "B" indicates 3 -- 4 high priority airborne EM conductors that are coincident with a strong IP conductive zone identified from ground survey data shown below.



In December 2008, Bayfield Ventures completed a 4 hole drill program (1192 meters in total) concentrated in the southwest corner of the "B" claim block. Mineralization on "B" claim block was encountered in felsic pyroclastics flanking a strong north-south trending growth fault on the property. The fault is the most easterly of a series of north-south trending faults in the area. A number of distinct pebbly pyroclastic units abut this fault and trend off to the southwest.

Strongly elevated gold values have been encountered along this fault and significant gold values were obtained in Bayfield's hole RR08-2, which intersected 5.7 grams per tonne gold over 2 metres in pyroclastic units abutting the fault. The intercept in RR08-2 was within a 21 metre thick zone with elevated to strongly anomalous gold values. All 4 holes encountered wide sections of elevated to strongly anomalous gold values. All gold values are typically associated with sulfides and elevated zinc values.
Hole RR08-1 encountered elevated to strongly anomalous gold values of 200 ppb to 1900 ppb Au over 38.8 metres from 92 metres to 130.8 metres, including 1.95 g/t Au over 1 metre from 99.7 metres to 100.7 metres.

Hole RR08-2 encountered elevated to strongly anomalous gold values over a 21 metre intersection from 251 metres to 272 metres including 5.7 g/t Au (.17 oz/t Au) over 2 metres from 257 metres to 259 metres.

Hole RR08-3 encountered elevated to strongly anomalous gold values from 177 metres to 188 metres.

Hole RR08-4 encountered elevated to strongly anomalous gold values of 200 ppb to 900 ppb Au over 28 metres from 26.5 metres to 54.5 metres.

The mineralization encountered on Bayfield's "B" claim block occurs in an environment similar to that hosting gold values on the Bayfield's "Burns" block and on the main ODM17 zone of Rainy River Resources Ltd., all to the southwest. It is very likely that some of the lithological units are correlative across the area. All of this auger well for defining deposit scale mineralization on ground held by Bayfield Ventures Corp. in the immediate area. The Company is of the opinion that the highly altered dacitic tuff breccia zone, seen in the Rainy River Resources core, continues in an easterly trend on to the "B" claim block held 100% by Bayfield Ventures.

Bayfield believes that the geological setting on the "B" claim block is similar to drill results announced by Rainy River Resources reporting a new high-grade gold discovery with up to 12.17 g/t gold over 5.2 metres. This gold discovery is located approximately 800 metres from the southwest portion of the Bayfield's "B" claim block.

Claim Block "C" Property

The Bayfield Ventures' "C" claim block, consisting of 49 units totaling approximately 800 hectares, abuts the western boundary of Rainy River Resources (TSX-V: RR) Richardson Township property in northwestern Ontario. Access to the property is attained via numerous all-weather, secondary provincial highways (gravel) and township roads, which lead off of paved provincial highways 11 and 71. These routes traverse the region and provide excellent ingress to the property.

The "C" claim property is located near the international boundary with Minnesota. The nearest population centre is Fort Frances, 50 km to the southwest. Bayfield's properties lie within the Rainy River Greenstone Belt. This belt is one component of the western part of the Archean Wabigoon Subprovince of the Canadian Shield, a 900 km long east-west trending metavolcanic-metasedimentary domain bordered and intruded by granitoid intrusions of up to batholithic dimensions. The Wabigoon Subprovince is composed of several tectonically bounded assemblages consisting of komatiitic to calc-alkalic metavolcanics overlain by clastic and minor chemical sediments. Intrusion of the granitoid domes has imparted a synformal structural character to the supracrustal rocks, and the central axial zones of many of these synformal belts may be characterized by long sinuous shear / fault zones.

The Company completed a 2008 winter exploration program on its Claim Block "C" property in the Rainy River District of Northwestern Ontario.

A tightly spaced line-cut grid consisting of approx 70 km was established on the Claim Block "C" property. Bayfield Ventures contracted a detailed Magnetometer survey and an Electro-Magnetic (EM) survey with Dan Patrie Explorations. The geophysical program was designed to establish targets that will be diamond drilled. The property has a large area of low lying acreage and swampland, so the work program was designed to utilize winter access to the maximum and to allow a comprehensive drill program to follow.

Politics

Projects throughout Canada, politically stable, mining friendly jurisdictions.

Paper

Shares outstanding – 23,661,300
Fully diluted – 29,894,053
Options – 2,171,753
Warrants – 4,061,000

Click here to Request Investor Information Direct from this Company

Back to Top