TSX.V Trading Symbol: BYV
VANCOUVER, Jan. 20 /CNW/ - Bayfield Ventures Corp. (TSX.V: BYV) has now
received a preliminary report on reconnaissance field operations on its
mineral licenses located in the South Gobi Region of Mongolia under option to
BHP Billiton (NYSE: BHP). The report was prepared for BHP Billiton Mineral
Exploration by Dr. Per Michaelson (Resolve Geological Pty Ltd).
The Navtgar Uul property (105,407 hectares) is located approx. 50 km to
the south-southwest of the largest coal deposit in Asia, the Tavan Tolgoi
coking coal deposit (5 billion tons estimated), and south of the recently
announced coal discovery by QGX Ltd. on their Baruun Naran licence. The
property is also located approx. 80 km to the west-northwest of the Oyu Tolgoi
copper-gold deposit operated by Canada's Ivanhoe Mines. Four prospective areas
have been identified during the reconnaissance field program conducted in
September/October 2005. The late Permian target areas at the Navtgar Uul are
considered to have potential to represent a multi-coal sequence of similar age
to the major coal strata at Tavan Tolgoi.
Map:
http://www.bayfieldventures.com/i/maps/mongolia.jpg
At least four targets identified from the fieldwork results will warrant
further follow up. A Falcon(TM) airborne geophysical program is in progress
over the Navtgar Uul mineral license and the data will be integrated with the
fall 2005 field data. An integrated exploration approach of both remote
sensing study and ground geological mapping are intended to outline targets
for consequent drill testing.
A Falcon(TM) airborne survey is also planned over the Hurmen Uul license,
(48,000 hectares), a second property held by Bayfield (and also under option
to BHP Billiton), is scheduled to be completed by early spring 2006.
Don Huston, President of Bayfield Ventures stated: "We are very pleased
with the geological information received to date from the ongoing exploration
program being conducted by our partner, BHP Billiton on our South Gobi Region,
Mongolia properties. The geological report received from Dr. Per Michaelson
suggests that fieldwork has identified four targets worthy of drilling for
coking coal. It is also suggested that this study has identified enough
encouraging data to proceed with drilling as soon as practically possible.
With Bayfield's Navtgar Uul mineral license being situated only 120 km north
of the Chinese border and 50 km to the south of Mongolia's Tavan Tolgoi coal
deposit, the property is ideally located for further exploration and potential
development. With Bayfield's share structure of approx. 14.9 million shares
issued and outstanding and current market capitalization, Bayfield's
management believes the Company is in a good position to add shareholder value
in the coming months."
BAYFIELD VENTURES CORP. is actively involved in the exploration and
development of copper-gold & coal properties in the South Gobi region of
Mongolia, and a gold property in the Red Lake region of northwestern Ontario,
Canada.
For further information on Bayfield Ventures Corp. (TSX.V: BYV), visit
the Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Huston"
----------------
DONALD C. HUSTON
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
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.
