Bayfield Ventures (TSX:BYV)

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Bayfield Ventures (TSXV:BYV) Upbeat on Rainy River Project
By Doug Hadfield

As I’ve noted for some time, you can tell a lot about Bayfield Ventures (TSXV: BYV) by having a look at Rainy River Resources’ work next door. Bayfield owns some important concessions, including Blocks A, B and C, in and around Rainy River’s major gold discovery zone. That discovery zone brought Rainy River to the forefront of the junior exploration scene last January, when step-out drilling from an area with no previous drilling assayed 5.42 grams per tonne gold over 43 metres with a core interval of 17.67 g/t Au over 9.5 metres. When Rainy River announced the results in November last year, the company’s stock rocked from $2.87 to $4.85 in less than a week.

Now Bayfield is hoping that its own drill results, which are expected sometime before December this year, will tap into some of the same mineralized trend.

Don Myers, who is a director at Bayfield with 20-years experience in pubco management and corporate communications, says both Bayfield and its investors are pleased with progress on the ground at Rainy River.

“We’re constantly sending off assays to the labs, but because we make it our policy to release all our results together we haven’t been able to release any yet. It’s obvious we’re more than satisfied – we’re still aggressively seeking land in the area, we’re planning more drill holes.”

If and when Bayfield does pick up new land in the area, they won’t be the only ones doing so. In August, Rainy River reported an option agreement for a 100% interest in an additional 1,570 acres of farmland in the Sifton, Richardson and Tait townships in the Rainy River district in Northwestern Ontario.

Myers told me, “Rainy River Resources is on a major land acquisition – their last six or so news releases show that they’re acquiring more land, they’re surrounding more of our properties than just the B Block – after their Canaccord Capital financing they’ve been acquiring much more land in the area. This means they’ve got lots of money to continue drilling and purchasing.”

I have a feeling Bayfield has something similar coming up in the near future: With all the drilling activity going on, the incredible results coming out of RR.V, land purchasing, this Rainy River area is really on fire. As well, Bayfield has been drilling all summer and has finished ten drill holes of the present drill program.

Read the rest here: http://www.resourcexinvestor.com/news.php?id=2343