|By Marketwired .||
|January 14, 2014 06:30 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/14/14 -- Bayfield Ventures Corp. (TSX VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) is pleased to announce the completion of a maiden National Instrument (NI) 43-101 Technical Report and Mineral Resource Estimate on the Company's Burns Block gold-silver project, Rainy River district, north-western Ontario. The Burns Block is surrounded by New Gold's 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.
Rainy River District Gold Zones: http://www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg.
Rainy River District Claims Map: http://www.bayfieldventures.com/i/maps/BYVRRMapwopit.jpg.
Jim Pettit, CEO of Bayfield, commented: "We are very pleased to announce our maiden resource estimate on our strategically located Burns Block, which reflects the quality and location of our resource and its potential to grow. Very early on the Bayfield team recognized that the mineralization on the Burns Block occurred in two stages, an early stage emplacement of lower grade material and a later stage of high grade which became the focus of our drilling, resulting in the discovery of two high-grade zones on the east and west sides of the property. This decision proved to be appropriate, as New Gold's Rainy River mine plan has continued to pursue an underground component which has helped to raise their overall mine plan head grade. The Burns Block remains open at depth and the central portion of the property between our two high grade zones remains relatively untested. We have a resultant underground resource grade averaging greater than 7 grams per tonne gold. In light of the proximity and quality of our high grade underground resource to that of the adjacent New Gold deposits and our resources crossing the property boundaries, Bayfield believes its land and resources hold significant strategic value."
Burns Block NI 43-101 Technical Report and Mineral Resource Estimate Highlights:
-- An NI 43-101 compliant Technical Report and Mineral Resource Estimate has been independently prepared by Riverbend Geological Services (Riverbend) dated December 20, 2013 and titled BURNS BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT. -- The NI 43-101 Technical Report and Mineral Resource Estimate lists both Indicated and Inferred resources in near surface positions (less than 500m depth, with a 0.35 AuEq g/t cutoff grade) and in deeper positions (greater than 500m depth, with a 2.5 g/t AuEq cutoff grade). -- Combined Indicated resources have been calculated as 71,385 ounces of AuEq (Au & Ag) and Inferred resources have been calculated as 176,654 ounces of AuEq. -- Near surface (less than 500m from surface) Indicated resources have been calculated as 1.25 million tonnes of 1.0 g/t Au and 14.7 g/t Ag containing 39,928 ounces Au and 591,954 ounces Ag. Additionally, Inferred resources have been calculated as 2.79 million tonnes of 1.2 g/t Au and 14.4 g/t Ag containing 104,121 ounces Au and 1,293,763 ounces Ag. -- Deeper (greater than 500m from surface) Indicated resources have been calculated as 79,000 tonnes of 7.9 g/t Au and 37.0 g/t Ag containing 20,029 ounces Au and 93,716 ounces Ag. Additionally, Inferred resources have been calculated as 195,000 tonnes of 7.4 g/t Au and 43.0 g/t Ag containing 46,475 ounces Au and 269,708 ounces Ag. -- Recommendations contained within the NI 43-101 Technical Report and Mineral Resource Estimate indicate the need for additional exploration drilling in the central portion of the Burns Block and additional delineation drilling on the Western Burns Zone and East Burns - Intrepid Zone of the property. Mineral resource estimate tabulation Indicated Resources ---------------------------------------------------------------------------- Cut off Tonnes Au grade Ag Grade Au Ag AuEq (g/t) T x 1000 g/t g/t oz oz ---------------------------------------------------------------------------- POP 0.35 1,253 1.0 14.7 39,928 591,954 PUG 2.5 79 7.9 37.0 20,029 93,716 ============================================================================ Total Indicated 1,332 1.4 16.0 59,957 685,670 Inferred Resources ---------------------------------------------------------------------------- Cut off Tonnes Au grade Ag Grade Au Ag AuEq (g/t) T x 1000 g/t g/t oz oz ---------------------------------------------------------------------------- POP 0.35 2,788 1.2 14.4 104,121 1,293,763 PUG 2.5 195 7.4 43.0 46,475 269,708 ============================================================================ Total Inferred 2,983 1.6 16.3 150,596 1,563,470 (i)g/t = grams per metric tonne. (i)oz = troy ounce. (i)POP = Potentially Open Pit mineable (above 500 metre depth). (i)PUG = Potentially Underground mineable (below 500 metre depth). (i)AuEq = gold equivalent and values were calculated at 60 to 1 (silver price to gold price) ratio and metallurgical recoveries and net smelter returns are assumed to be 100%. (i) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Burns Block Additional Discovery Potential:
The Burns Block is 80 acres in size and the majority of drilling has been concentrated on the western and eastern sides of the property. The central part of the property requires additional testing. The resources that have been identified cross the property boundaries onto the adjacent ground held by New Gold to the west and to the east.
Specific targets remain for additional discovery on the Burns Block. These targets can be grouped into four categories:
1. Western Burns Zone: Additional drilling at depth on the Western Burns high grade zone would help fill in large holes in the model that have not been assigned a grade, due to a lack of data. 2. East Burns - Intrepid Zone: Approximately 120 metres of strike length potential of the southwest plunging East Burns - Intrepid high grade zone remains untested along the southeast to south-central portion of the Burns Block. 3. Central Burns Block Main Zone: Several holes collared in the sparsely drilled central portion of the Burns Block property have intersected 5 to 15 metre wide zones of low grade to gram level gold mineralization hosted within the sheared, foliated quartz porphyry dacite. These intersections have not been followed up and present the potential of being associated with additional undiscovered shoots of higher grade mineralization. 4. Mineralized zones in both the hanging wall and footwall of the Main Zone: Completed drilling clearly shows the presence of multi-gram gold and silver mineralization in positions above and below the Main Zone. Several wide, significant mineralized zones lying below the Main Zone have been intersected but remain completely open due to lack of drilling. These targets are concentrated in the under explored central portion of the property.
Burns Block Geology and Mineralization:
Extensive gold-silver mineralization has been outlined on the Burns Block. Recent interpretations for the geology and genesis of gold mineralization on the Burns Block suggest an early, volcanogenic-associated model. Primary rock units in and around the deposit include dacitic flows and sedimentary volcaniclastic deposits. Additional data from exploration drilling showed that gold mineralization at the Burns Block has a strong gold-pyrite association, including ubiquitous sphalerite, and a very high ratio of silver to gold. There appear to have been two stages of gold mineralization in the Burns Block. The first (low to moderate grade) gold mineralization was associated with the emplacement of sulphide (pyrite-sphalerite-chalcopyrite) as veins and disseminations in dacite rocks. A later (high-grade) gold mineralization event included the emplacement of quartz-pyrite/chalcopyrite-gold veins and veinlets.
NI 43-101 Technical Report and Mineral Resource Estimate Summary:
As part of the study leading up to the report, the following data were obtained:
1. Duplicate samples from core of low grade, medium grade and high grade mineralization. 2. A large check sampling program was done by sending the coarse reject portion of samples of low grade, medium grade and high grade mineralization to an independent lab for confirmation check assaying. 3. A rock density study from drill core was done including 400+ measurements. 4. A compilation of detailed core photos of high grade mineralization intervals was prepared as a guide to high grade mineralization mineralogy and veining styles.
Riverbend was provided with all geologic mapping and stratigraphic data, logging data, original lab assay data and all core photography. Riverbend additionally acquired publically available technical reports, including NI 43-101 resource reports, filed by Rainy River Resources detailing study results for mineralized areas immediately west and east of the Burns Block.
Riverbend then proceeded to compile all data in order to proceed with the initial NI 43-101 compliant resource estimate. The result of the compilation and detailed computer based spatial study of the gold and silver mineralized zones at the Burns Block resulted in the identification of both Indicated and Inferred resource categories. Additionally, it was decided by Riverbend to separate the near surface, potentially open pit mineable mineralization from deeper, potentially underground mineable mineralization.
Riverbend selected separate cut-off grades for the shallow mineralization (less than 500m from surface) vs. the deeper mineralization (greater than 500m from surface). A lower cut-off grade of 0.35 g/t AuEq was applied for the shallow, potentially open pit mineable mineralization. For potentially underground mineable mineralization, a much higher value for the cutoff grade of 2.5 g/t AuEq was selected to reflect the higher costs associated with typical underground development. For the purposes of the NI 43-101 Mineral Resource Estimate calculation, AuEq (gold equivalent) values are calculated at a 60 to 1 (silver price to gold price) ratio and metallurgical recoveries and net smelter returns are assumed to be 100%. These lower cut-off values for potential open pit and for potentially underground mineable mineralized zones are essentially identical to those used by Rainy River Resources for modeling of mineralized zones immediately adjacent to the Burns Block.
The results of resource calculations using the above stated cut-off grades are presented in the chart above. Note that the calculated resources listed above are separated into Indicated and Inferred categories and additionally into Potentially Open Pit Mineable (POP) and Potentially Underground Mineable (PUG) categories. Also note that no detailed economic mining parameters have been established for any of the mineralized zones at the Burns Block. The establishment of true economic parameters for estimating the potential to profitably mine any of the resources will require additional data collection and study which were beyond the scope of the current NI 43-101 resource report.
Cliff Duke P.Eng., principle of Riverbend Geological Services Inc., completed the Independent NI 43-101 Technical Report and Mineral Resource Estimate for the Burns Block and is an Independent and Qualified Person as defined by Regulation 43-101.
For additional documentation of the data and methodology used to establish the estimated resources in the above table please refer to the full report on SEDAR dated December 20, 2013: BURNS BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT. The report will be filed on www.sedar.com within 45 days.
"B" Block Discovery Potential:
In other news, Bayfield has commissioned Riverbend Geological Services to complete an independent NI 43-101 compliant Technical Report on the Company's "B" Block property.
The mine trend rock package is sharply deflected to the NNE along the western margin of the Black Hawk Stock and has been confirmed by Bayfield Ventures during limited 2013 diamond drilling on the "B" Block property. Logging results from diamond drill holes completed by Bayfield confirm the presence of iron formations, argillite units, hornfelsed, mafic tuffaceous sediments and well foliated quartz porphyry dacite intrusive rocks at the "B" Block property.
Rainy River Geological Map of the Burns Block and "B" Block: http://www.bayfieldventures.com/i/maps/RRDGeo_BurnsAndBBlock.jpg
Bayfield has discovered relatively narrow zones of multi-gram gold-silver mineralization over a large portion of the southern and central portions of the 480 acre property. These well mineralized intervals occur within wide envelopes of lower grade mineralization and are mineralogically and texturally very similar to the mineralized zones at the Burns Block property.
The interpreted high potential for additional gold-silver discoveries at the "B" Block results from encouraging results in completed drilling as well the close proximity of the "B" Block to both the near surface portion of New Gold's Intrepid Zone and to the Burns Block property. "B" Block drilling has been shallow and the property is essentially unexplored below 250 metres from surface. The combination of very favourable geology and the known presence of gold-silver-copper-zinc mineralization make the "B" Block a very high quality target area for further discoveries through detailed exploration.
Robert Marvin, P.Geo., CPG, VP Exploration for Bayfield Ventures, is the Qualified Person as defined by National Instrument 43-101 and supervised both the project field work and the preparation of the technical information in this release.
Drill core analysis and assaying has been conducted by ACT Labs in Thunder Bay, Ont. The lab is ISO/IEC 17025:2005 (CAN-P-4E) certified. The drill core is split and sampled in standard 0.5 metre to 1.5 metre intervals. The core samples were analyzed for gold by 30-gm fire assay with AA finish and by gravimetric methods from assays over 5,000 ppb (over limit). Screened total metallic assays are being performed on samples assaying over 5,000 ppb. The core samples were analyzed for silver by Ag Aqua Regia-ICP finish and Ag Fire Assay-Gravimetric from assays over 100 ppm (over limit). The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold and silver in the Rainy River District of north-western Ontario. Bayfield Ventures goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, Chairman and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Bayfield Ventures Corp.
James G. Pettit
Chairman and CEO
604-687-3376, Toll Free: 800-567-8181
Bayfield Ventures Corp.
604-687-3376, Toll Free: 800-567-8181
Envoy Strategic Partners Investor Relations
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
Feb. 10, 2016 01:00 PM EST
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Feb. 10, 2016 12:45 PM EST
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 10, 2016 12:15 PM EST Reads: 420
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Feb. 10, 2016 12:00 PM EST Reads: 612
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 10, 2016 11:00 AM EST Reads: 181
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
Feb. 10, 2016 11:00 AM EST Reads: 253
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 10, 2016 11:00 AM EST Reads: 205
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Feb. 10, 2016 10:45 AM EST Reads: 388
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 10, 2016 10:45 AM EST
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 10, 2016 10:45 AM EST Reads: 244
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Feb. 10, 2016 10:45 AM EST Reads: 218
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Feb. 10, 2016 10:30 AM EST Reads: 213
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
Feb. 10, 2016 10:04 AM EST
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Feb. 10, 2016 09:30 AM EST Reads: 191
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
Feb. 10, 2016 09:20 AM EST