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Posts tagged ‘Bayfield Ventures Corp (BYV)’

Albany’s area play continues

August 16th, 2013

More companies move in on Zenyatta’s Ontario graphite project

by Greg Klein

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In just over five weeks at least a dozen companies have picked up properties around Zenyatta Ventures’ TSXV:ZEN Albany graphite project in north-central Ontario. A steady source of encouraging news since its January 2012 discovery, Albany was bound to attract admirers—but why so late and suddenly so many? Little is being said, other than the properties became available and the timing couldn’t be better.

“It’s been great for the markets,” says Michael England, CEO/director of Cariboo King Resources TSXV:CKR. “All the juniors that have gone in have seen an increase in volume and even some financings. It’s been fantastic. It’s kind of what the doctor ordered for our markets. All of us were so dead but with the [Alpha Minerals TSXV:AMW/Fission Uranium TSXV:FCU] uranium play in the Athabasca Basin and this one—wow! What a change it’s made.”

More companies move in on Zenyatta’s Ontario graphite project

Among the earlier entrants reported by ResourceClips.com on July 17 were Brookemont Capital TSXV:BKT with its 416-hectare Albany East property, Cavan Ventures’ TSXV:CVN 768-hectare Cage claims, TAD Mineral Exploration’s TSXV:TJ 257-hectare Constance Lake property and Bluenose Gold’s TSXV:BN.H Zenyatta West project.

Other acquisitions include Weststar Resources’ TSXV:WER 304-hectare Albany South East property announced July 16, TAD’s second foray with the 386-hectare Constance Lake West property announced July 25 and Ashburton Ventures’ TSXV:ABR 16-claim, 256-hectare Page property announced the following day.

Cariboo King heralded its 256-hectare Nezen property July 29. The next day Alchemist Mining TSXV:AMS did the same for its 256-hectare Mondatta property and the day after that MPH Ventures TSXV:MPS got in on the act with its same-sized North Albany. On August 13 GTA Resources and Mining TSXV:GTA said it increased its Auden project to over 26,000 hectares, making it the area’s largest landholder.

Then the play moved farther afield with two August 15 announcements, Cariboo King’s 1,536-hectare Pito property 20 kilometres west of Albany’s drill holes and, about 25 kilometres east of Zenyatta, the 256-hectare Hearst project for Benton Resources TSXV:BEX—which passed it on to Alabama Graphite CNSX:ALP the very next day. Alabama IR officer Danny Gravelle tells ResourceClips.com, “The property became prospective to Benton not only because of the location but an historic report by Noranda which gave some really strong indicators that there’s potential for graphite.”

But what prompted so many companies to pour into the Albany area at this time? Gravelle responds that Zenyatta’s story obviously has investors compelled. After trading for less than $2 in May the stock hit a 52-week high of $5 on July 26. “For a stock to perform as it has in the worst market I’ve seen in my lifetime shows a significant amount of strength. I think investors are convinced that Zenyatta has great potential because they’ve shown they like this story even in the worst of markets. That’s what really generated the interest.”

Cariboo King, with projects close to a number of former graphite mines in Quebec and also to Timcal Graphite & Carbon’s operating Lac-des-Iles mine, evidently lets others lead the way. “I do play closeology a lot with my companies,” England tells ResourceClips.com. He saw the policy pay off when New Gold TSX:NGD took out Geo Minerals in December 2011. “That was something that we never even drilled but it was close to their Blackwater deposit.”

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Bayfield reports Ontario Assays up to 4.22 g/t Gold, 21.54 g/t Silver over 18m

May 9th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced results from its Burns Block Project in the Rainy River district of northwest Ontario. Assays include

4.22 g/t gold and 21.54 g/t silver over 18 metres
(including 14.45 g/t gold and 53.95 g/t silver over 3 metres)
2.94 g/t gold and 21.24 g/t silver over 6 metres
(including 12.3 g/t gold and 66.2 g/t silver over 1.1 metres)
1.81 g/t gold and 10.36 g/t silver over 5.6 metres
(including 11.6 g/t gold and 34.2 g/t silver over 0.7 metres)
0.97 g/t gold and 2.4 g/t silver over 1.5 metres
0.69 g/t gold and 13.9 g/t silver over 1.5 metres

The Burns Block project is located adjacent to Rainy River Resources’ TSX:RR Rainy River gold project.

View Company Profile

Contact:
James G. Pettit
Chairman/CEO
or Don Myers
Director
604.687.3376
800.567.8181

Read a feature story on Bayfield Ventures.

by Greg Klein

Bayfield reports Ontario Assays of 5.28 g/t Gold, 77.82 g/t Silver over 10.5m

March 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced results from its Burns Block gold-silver project in northwestern Ontario. Assays include

0.6 g/t gold and 7.44 g/t silver over 7 metres
(including 0.94 g/t gold and 12 g/t silver over 1.5 metres)
0.34 g/t gold and 12.77 g/t silver over 4.5 metres
1.31 g/t gold and 2.05 g/t silver over 3 metres
5.28 g/t gold and 77.82 g/t silver over 10.5 metres
(including 11.98 g/t gold and 269.37 g/t silver over 1.9 metres)
0.95 g/t gold and 23.7 g/t silver over 1 metre
0.89 g/t gold and 6.01 g/t silver over 6.5 metres
1.48 g/t gold and 11.93 g/t silver over 32.3 metres
(including 7.75 g/t gold and 52.05 g/t silver over 2.4 metres)

The Burns Block project is located adjacent to Rainy River Resources’ TSX:RR Rainy River gold project.

View Company Profile

Read more about Bayfield Ventures

Contact:
James G. Pettit
Chairman/CEO
604.687.3376

or Don Myers
Director
6604.687.3376

by Ted Niles

Bayfield reports Ontario Assays as high as 3.44 g/t Gold, 29.16 g/t Silver over 10.5m

February 21st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced drill results from its Burns Block project in the Rainy River District of northwestern Ontario. Highlights include

1.3 g/t gold over 1.5 metres
3.44 g/t gold and 29.16 g/t silver over 10.5 metres
(including 7.71 g/t gold and 52.4 g/t silver over 3.7 metres)
0.99 g/t gold over 15.5 metres (including 1.18 g/t gold over 11.5 metres)
2.1 g/t gold and 9.55 g/t silver over 3 metres

The Burns Block project is located adjacent to Rainy River Resources’ TSX:RR Rainy River gold project.

View Company Profile

Read more about Bayfield Ventures

Contact:
James G. Pettit
Chairman/CEO
604.687.3376

or Don Myers
Director
604.687.3376

by Ted Niles

Bayfield reports Ontario Assays of 12.98 g/t Gold, 104.77 g/t Silver over 30m

December 12th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced results from its Burns Block project in the Rainy River district, northwestern Ontario. Assays include

1.18 g/t gold and 178.2 g/t silver over 3 metres
111.42 g/t silver over 3.3 metres
12.98 g/t gold and 104.77 g/t silver over 30 metres
(including 64.66 g/t gold and 277.82 g/t silver over 5 metres)
13.73 g/t gold and 159.32 g/t silver over 33 metres
(including 166.65 g/t gold and 1,650.59 g/t silver over 1.7 metres)
4.14 g/t gold and 17.91 g/t silver over 28.5 metres
(including 16.62 g/t gold and 40.98 g/t silver over 6 metres)

The Burns Block property borders the eastern boundary of Rainy River Resources’ multimillion-ounce gold deposit. The property is accessible by numerous all-weather gravel highways and township roads leading to provincial highways 11 and 71.

View Company Profile

Read more about Bayfield Ventures

Contact:
James G Pettit
Chairman/CEO
604.687.3376

or Don Myers
Director
604.687.3376

by Ted Niles

Bayfield reports Ontario Results including 13.73 g/t Gold, 37.82 g/t Silver over 33m

November 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced assays from its Burns Block Property in the Rainy River District of northwest Ontario. Results include

13.73 g/t gold and 37.82 g/t silver over 33 metres
(including 46.3 g/t gold and 92.82 g/t silver over 9.6 metres)
12.98 g/t gold and 39.65 g/t silver over 30 metres
(including 19.85 g/t gold and 56.48 g/t silver over 19.5 metres)
4.14 g/t gold and 17.91 g/t silver over 28.5 metres
(including 9.53 g/t gold and 31.35 g/t silver over 12 metres)
2.89 g/t gold and 23.02 g/t silver over 15 metres
1.25 g/t gold and 20.81 g/t silver over 24 metres
(including 2.15 g/t gold and 35.09 g/t silver over 12 metres)

The Burns Block property borders the eastern boundary of Rainy River Resources’ multimillion-ounce gold deposit. The property is accessible by numerous all-weather gravel highways and township roads leading to provincial highways 11 and 71.

View Company Profile

Contact:
James G. Pettit
Chairman/CEO
or Don Myers
Director
604.687.3376
800.567.8181

by Greg Klein

Bayfield reports Ontario Assays up to 11.22 g/t Gold, 26.91 g/t Silver over 10m

October 20th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced results from its Burns Block property in the Rainy River District of northwestern Ontario. Assays include

0.54 g/t gold and 28.87 g/t silver over 22.5 metres
(including 1.46 g/t gold and 102.13 g/t silver over 4.5 metres)
2.58 g/t gold and 23.65 g/t silver over 13.5 metres
(including 5.26 g/t gold and 35.01 g/t silver over 6 metres)
11.22 g/t gold and 26.91 g/t silver over 10 metres
(including 20.23 g/t gold and 39.19 g/t silver over 5.5 metres)
5.75 g/t gold and 45.5 g/t silver over 1 metre
29.8 g/t silver over 3 metres
1.63 g/t gold and 26.5 g/t silver over 1 metre

The Burns Block property borders the eastern boundary of Rainy River Resources’ multimillion-ounce gold deposit. The property is accessible by numerous all-weather gravel highways and township roads leading to provincial highways 11 and 71.

View Company Profile

Contact:
James G. Pettit
Chairman/CEO
604.687.3376

or Don Myers
Director
604.687.3376

by Ted Niles

Bayfield reports Ontario Silver Assays of 1,414.55 g/t over 1.1m

September 20th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced results from its Burns Block Property in the Rainy River District of northwestern Ontario. Highlights include

1,414.55 g/t silver over 1.1 metres (including 2,020 g/t over 0.6 metres)
35.35 g/t over 14 metres (including 55.11 g/t over 7 metres)
11.9 g/t over 23.4 metres (including 20.2 g/t over 10.1 metres)
20.38 g/t over 9 metres (including 89 g/t over 1 metre)

The property borders the eastern boundary of Rainy River Resources’ multimillion-ounce gold deposit in northwestern Ontario. The Burns Block Property is accessible by numerous all-weather gravel highways and township roads leading to provincial highways 11 and 71.

Chairman/CEO Jim Pettit tells ResourceClips.com, “Most of what we drilled in the first half of the program was only assayed for gold. We weren’t really looking at the silver. But all of a sudden we started hitting some really big silver numbers. So we started reporting silver as well, and we noticed the silver grades seem to be getting higher—certainly higher than Rainy River’s grades, as we came east. It’s a different mineralizing event. It’s a very high-grade silver, it’s called electrum. You get the gold and silver sort of trapped together. In the meantime Rainy started reporting their silver numbers too. They originally weren’t; you’d never hear about silver. But with the price of silver, it’s another credit to tack on. We’re trying to increase the value any way we can. We’re putting out gold-equivalent values now, and with these grades it’s a pretty significant difference.

Rainy River’s quite interested in what we’re doing. We’ve had some conversations going back and forth—we’re not exactly strangers—Jim Pettit

“We have two rigs drilling now,” he adds. “We had three, but the labs can’t handle it. We had to shut down for three or four weeks. We had 61 holes, and we were waiting on assays. On a program like that you need the results back to guide you. So we caught up.

“The labs are in Thunder Bay, and the three of them are just swamped. Rainy’s switched to our lab. They have 10 drills, and they have three more coming. A lot of stuff in the far west side of Timmins goes to Thunder Bay. Even Red Lake: there’s one small lab in Red Lake, but a lot of that stuff is heading to Thunder Bay.

“We have another 37 holes or so still coming; they’re coming out in bits and pieces. We just came back in with two rigs. One’s working mainly on the Eastern Extension, and the other is working around that high-grade shoot zone that’s within 100 metres of the western border, trying to do a little more definition. Our western border is where Rainy’s pit is going to stop,” Pettit says.

“We’ve been pretty successful in defining a reasonable resource. It extends as you come across the property. So the first 100 metres we’ve done a pretty significant job there, and we now have holes out to about 500 metres across. Once we finish the definition drilling, we’ll be stepping out both drills to the east. We got a big, huge geophysical conductor toward the northeast corner.

“We’re working on a resource estimate,” he points out. “We’re going to turn out a 43-101 sooner rather than later, probably fourth quarter. Rainy River’s quite interested in what we’re doing. We’ve had some conversations going back and forth—we’re not exactly strangers.”

View Company Profile

Contact:
Jim Pettit
Chairman/CEO
or Don Myers
Director
604.687.3376
800.567.8181

by Greg Klein

Golden Embrace

July 4th, 2011

Bayfield’s Grades and Location Make It a Takeover Target

By Ted Niles

Bayfield Ventures’ Burns Block property is what you might call a no-brainer. It is surrounded on all sides by Rainy River Resources’ imaginatively named Rainy River Gold Project, which has resources of 3.4 million ounces gold measured and indicated, another 2.7 million ounces inferred, and is expecting results of a preliminary economic analysis by the end of the year. Bayfield Chairman and CEO Jim Pettit Says, “We haven’t produced [a resource estimate] yet, and I don’t think we’ll be around long enough. It’s one of those things. This is a potential mergers-and-acquisitions deal and a hell of a good gold story.”

Indeed, Rainy River might have already acquired the Burns Block—located in the Rainy River district of northwestern Ontario—were it not for the 2008 market crash, which forced a termination of its option on the property. Thus, explains Pettit, “[Bayfield] decided in April-May 2010 that we would just raise the money and start drilling it and prove the extension of their ore body as it moves west to east—it comes right across our property—and that’s what we’re doing.”

Bayfield's Grades and Location Make It a Takeover Target

The decision has proved to be more than worthwhile, as Bayfield’s drilling has shown that while the main ore zone of the deposit tends toward low-grade gold and silver, the system contains many high-grade shoots the company is hitting time and again. Bayfield has nearly completed 50,000 metres of drilling on the Burns Block and has the cash to do another 50,000. Pettit elaborates, “We’ve got three rigs turning. Two of them are step-outs—we’re stepping out to the east gradually, in four picket lines of holes. One of them is doing definition drilling and infill drilling behind, because the system that runs through the region has these high-grade shoots throughout it. We hit these shoots, and they are just spectacular.”

June 27 assays of the Burns Block include 8.66 g/t gold and 57.67 g/t silver over 79.5 metres (including 60.05 g/t gold and 362.96 g/t silver over 11.2 metres), 0.79 g/t gold and 23.22 g/t silver over 60.3 metres and 0.64 g/t gold and 32.48 g/t silver over 13 metres. Of the first result, Pettit comments, “I’ve never seen a hole like that before. And that would be in [Rainy River's] pit, because it starts at 15 metres and goes to 95 metres deep. ” Assays of June 3 include 0.81 g/t gold over 77.3 metres, 1.56 g/t gold and 34.69 g/t silver over 12 metres, 0.46 g/t gold and 5.87 g/t silver over 44.3 metres and 0.51 g/t gold and 23.46 g/t silver over 27.4 metres. Bayfield has two other properties in the area—the B and C Blocks, which adjoin the east and west boundaries of the Rainy River project.

Needless to say, Bayfield has no ambition of taking the Burns Block to production. Apart from anything else, the very fact that it is landlocked by Rainy River would make it a rather difficult undertaking. “We’re just going to make it enticing enough,” Pettit declares. “That’s our goal, and we’ve got to create that value so they understand that they’re better with it than without it.”

We’re just going to make it enticing enough. That’s our goal, and we’ve got to create that value so they understand that they’re better with it than without it. —Jim Pettit

He continues, “Everything we’ve done so far is within 200 metres of our western border where Rainy River’s pit would normally end—they’ve got a pit plan that comes right up to the border. Their last resource deepened their pit by 50 metres, which generally means you extend the walls out.” He adds that because the Burns Block provides one of the only outcrops in a region that is largely swamp, the property would make an ideal location for a mill.

It would appear that the market shares Pettit’s confidence. After an exceedingly active trading week, Bayfield’s share price sits at $0.76—a rise of almost $0.20 from the previous week. Pettit concludes, “We’re doing what we said we would do—prove the overall extension of their deposit. The project is really going great. The phones are ringing off the hook.”

Bayfield Ventures currently has a market cap of $31.6 million, with 41.5 million shares outstanding. The company also has properties in Pickle Lake and Red Lake, Ontario.

Bayfield CEO Jim Pettit on Ontario assays of 60.05 g/t gold and 362.96 g/t silver over 11.2m

June 28th, 2011

“The Burns Block is basically one of our three properties that is tied right on to where Rainy River is going to develop their mine. They’ve got a pit plan that comes right up to the border. They had optioned it from us back in 2006-2007, and we got from it them in 2008 when the markets collapsed—they didn’t complete their option agreement. So we decided last year, in April/May, that we would just raise the money and start drilling it and prove the extension of their ore body as it moves west to east—it comes right across our property—and that’s what we’re doing.

“These assays are spectacular. They’re a follow-up to what we did last September. We came out with a hole then—Hole 18, right down in the southwest corner of our block—the guts of which was about 10 metres of, roughly, one ounce. Then Hole 15 to the northeast of that was in the range of about 9 metres of a half-ounce. Now, this is right on line with those two, but way up to the north part of the property. You could put a ruler right through all three of them. And this one you’ve got that core section of 11 metres of two-ounce. It’s huge. And it’s close to surface. We know that on the whole property the main ore body dips north to south, at about 50 degrees. It comes to surface right along our northern border, so everything as we drill up north is very shallow, everything along the southern border is deeper. On this particular hole we intersected the beginning of the zone at about 15 metres.

We’re doing what we said we would do—prove the overall extension of their deposit. And hitting these high-grade shoots—well, I’ve never seen a hole like that before.—Jim Pettit

“We have enough funding right now to another 50,000 metres. We’re almost up to 50,000 metres that we’ve already done. We’ve got three rigs turning, two of them are step-outs—we’re stepping out to the east gradually, in basically four picket lines of holes. One of them is doing definition drilling and infill drilling behind, because the system that runs through the region has these high-grade shoots throughout it, and they’re dramatically different from the main ore zone. The main ore zone is relatively low grade—I think Rainy River’s average grade is about 1.2 g/t. We hit these shoots, and they are just spectacular.

“We haven’t produced [a resource estimate] yet, and I don’t think we’ll be around long enough. It’s one of those things. This is a potential mergers-and-acquisitions deal and a hell of a good gold story. Everything we’ve done so far is within 200 metres of our western border where Rainy River’s pit would normally end. Their last resource deepened their pit by 50 metres which generally means you extend the walls out. We’ll figure out a resource to determine that, but we’ve also got just about the only outcrop in the whole region—because it’s a swamp. They could easily put their mill on our property because that’s where the infrastructure would probably sit, on the outcrop. I don’t see [Bayfield] taking the Burns Block to production, because [Rainy River] own all the land around us. We’re just going to make it enticing enough. That’s our goal, and we’ve got to create that value so they understand that they’re better with it than without it.

“The project is really going great. The phones are ringing off the hook. We’re doing what we said we would do—prove the overall extension of their deposit. And hitting these high-grade shoots—well, I’ve never seen a hole like that before. It’s pretty spectacular. And that would be in [Rainy River's] pit, because it starts at 15 metres and goes to 95 metres deep. And it comes to surface, probably just north of where we have the rigs.”

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