Bayfield Ventures Corporation (CVE:BYV) (PINK:BYVVF) stock price shot up after the company published very positive drilling results and confirmed the potential of their flagship property.
BYV stock price jumped up 20% on a trading volume of 726 thousand, which was nearly 4 times the average of 183 thousand.
The stock price gapped up after Bayfield announced recent drilling results with promising findings. A wave of buyers managed to reverse the pretty solid downtrend on this development, thus the buying pressure is likely to continue.
The company said on November 29 they have encountered high grade gold and silver mineralization zones at their Burns Block property in Ontario. This seems even more promising considering that their property lies adjacent to a multi-million ounce gold deposit run by Rainy River Resources. The new findings confirm that the same high grade mineralization extends to Burns Block.
Among the most noteworthy results, one hole intercepted 30 meters of 12.98 g/t gold and 39.65 g/t silver mineralization zone, which also allowed to expand the width of previously identified bonanza grade zone in the same area.
Silver assays on some holes are not yet fully received and assays on sixteen more holes are pending.
