Bayfield Ventures Corporation (CVE:BYV) (PINK:BYVVF) skyrocketed today carrying a massive trading volume and hitting a new price high for 2011 after the company said to have hit significant gold and silver grades.
The stock added over 50% throughout the trading session although some correction was seen on intraday profit taking. The Trading volume was over the top – 6.9 million over slightly more than half a session compared to 90 day average of only 358 thousand.
BYV gaped up after the company announced to have intersected significant gold and silver mineralization zones on Burns Block Property in Ontario. The property is located next to a multi-million ounce gold deposit owned by Rainy River Resources Limited
(CVE:RR) (PINK:RRFFF), which suggest there’s a great possibility of finding even more significant mineralization zones.
Two holes were the most promising and even had Bonanza grade mineralization levels. One hole returned 79.5m of 8.66 g/t gold and 57.67 g/t silver including 11.20 of 60.05 g/t gold and 362.92 g/t silver. Other hole found 43.8m of 1.02 g/t gold and 28.15 g/t silver including 9 m of 3.2g g/t gold and 96.34 g/t silver.
