Bayfield's Grades and Location Make It a TakeoverBayfield's Grades and Location MakeIt a Takeover Target
By Ted Niles
BayfieldVentures' Burns Block property is what you might call a no-brainer. It issurrounded on all sides by RainyRiver Resources' imaginatively named Rainy River Gold Project, which hasresources of 3.4 million ounces gold measured and indicated, another 2.7million ounces inferred, and is expecting results of a preliminary economicanalysis 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 bearound long enough. It's one of those things. This is a potentialmergers-and-acquisitions deal and a hell of a good gold story."
Indeed, Rainy River might have already acquired the BurnsBlock—located in the Rainy River district of northwestern Ontario—were it notfor the 2008 market crash, which forced a termination of its option on theproperty. Thus, explains Pettit, "[Bayfield] decided in April-May 2010that we would just raise the money and start drilling it and prove theextension of their ore body as it moves west to east—it comes right across ourproperty—and that's what we're doing..."
Go to https://resourceclips.com/2011/07/04/golden-embrace/?To read more