Waymar Intersects 22.4 Meters Averaging 10.42 g/t Gold at Anza and Continues to Extend the Boundaries of the Deposit
09.07.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/09/12 -- Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE: WYM) is pleased to report significant results from five additional diamond drill holes on its Anza property, Antioquia Department in the Republic of Colombia. These holes are part of an overall drilling program designed to identify and expand the high grade gold mineralization along the Aragon Fault."The high grade gold zone intersected in drill-hole MAP-33 shows improved grades and continuity from the mineralization intersected in MAP-20, MAP-11 and MAP-24," commented Pablo Marcet, President and CEO of Waymar. "We are proving real continuity of the high grade zones at Anza and are continuing to expand the limits of the known mineralized system."
Mineralization at Anza, as proven by drilling results, extends at least 1,850 metres along the Aragon Fault structure. The deposit remains open to the north and south, as well as down-dip. Other targets in the area, as defined by geological mapping, surface geochemistry and geophysics, remain untested by drilling.
Since the Company's last announcement of drilling results on June 19, 2012, an extra 1,525 metres have been drilled on the Anza deposit, for a total of 11,265 metres since the start of the drill program in April 2011. The drilling operation continues on the property.
A summary of significant results in these drill holes is listed in the following table:
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Hole Number From To Interval Au Ag Zn
(m) (m) (m) (g/t) (g/t) (%)
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MAP-30 85.4 94.6 9.2 0.40 9.46 0.37
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225.5 244.9 19.4 1.19 20.42 0.21
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including 228.5 237.5 9.0 2.06 38.88 0.30
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MAP-31 14.0 16.0 2.0 0.55 8.80 0.05
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90.0 94.0 4.0 0.88 308.61 2.72
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133.2 140.3 7.1 0.43 0.81 0.34
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206.5 207.5 1.0 1.17 1.40 0.35
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252.0 259.5 7.5 0.89 8.96 0.02
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MAP-32 224.2 227.8 3.7 0.59 2.37 0.07
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235.3 237.5 2.3 0.40 2.50 0.05
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MAP-33 134.0 154.0 20.0 0.60 0.91 1.34
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157.1 179.5 22.4 10.42 1.87 1.56
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including 165.0 170.8 5.8 29.49 3.37 2.81
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186.5 188.0 1.5 5.14 0.70 0.04
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204.8 207.0 2.3 2.72 1.58 1.53
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210.0 211.5 1.5 1.79 0.20 0.11
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MAP-34 6.1 11.2 5.1 0.60 15.27 0.18
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23.2 40.0 16.8 0.93 0.94 0.54
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83.1 84.6 1.5 16.20 2.40 10.05
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86.5 91.0 4.5 0.80 5.33 1.00
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The intervals in the above table refer to the actual core length and may not represent the true width of the mineralization due to the limited geological knowledge of the deposit at this time.
The diamond drill holes statistics are as follows:
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Total
Northing Easting Elevation Azimuth Dip Depth
Hole Number (m) (m) (m) (degrees) (degrees) (m)
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MAP-30 399994 695090 1023 105 -60 353.8
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MAP-31 399787 694179 940 110 -50 280.6
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MAP-32 400000 695225 945 025 -45 327.9
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MAP-33 399991 694606 1115 255 -60 221.1
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MAP-34 399880 694084 893 080 -55 341.3
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Drill hole location maps can be found on the Waymar website at the following link: www.waymarresources.com/projects/maps/.
The analytical procedures for silver and zinc use an aqua regia digestion with an Atomic Absorption Spectroscopy (AAS) finish (Ag-AA46 and Zn-AA46). The analytical procedure for gold is a 30 gram nominal sample weight and analysis by fire assay and AAS (Au-AA23). If the assay result is over 10 g/t then a 30 g nominal sample weight and analysis by fire assay and gravimetric finish is undertaken (Au-GRA21). All core samples were prepared in Medellin, Colombia, and assayed in Lima, Peru, by ALS Group Laboratories which are ISO 9001:2008 certified laboratories.
An industry standard Quality Control and Quality Assurance program, which includes Standard Reference Materials, blanks and duplicated is established and is followed during the drill program. A complete QA/QC statistical analysis is presently being undertaken for the company by Micon International Limited. Analysis of the QA/QC results so far indicates that the assay results from the drill program are within industry standards.
David Makepeace, M.Eng., P.Eng., senior geologist for Micon International Limited is the qualified person for this drill program, as defined by National Instrument 43-101. He has reviewed and verified the technical disclosure contained herein and accepts responsibility for such disclosure.
Any potential quantity and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource at the Anza property to date, and it is uncertain if further exploration will result in targets being delineated as a mineral resource.
About Waymar Resources Ltd.
Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anza project located in the west of the Antioquia Department in the Republic of Colombia. Upon exercise of the option, the optionors will retain a 2% net smelter return royalty on that portion of the Anza property governed by the Option Agreement, one-half of which may be purchased by Waymar for a cash payment of US$1,000,000. Waymar also has 100% ownership of certain properties surrounding Anza that cover the district's mineral potential and is continually seeking opportunities to acquire exploration properties. Colombia is a significant producer of gold, nickel, emeralds, petroleum and natural gas as well as a leading producer of coal in Latin America.
WAYMAR RESOURCES LTD.
Pablo Marcet
President & CEO
This press release may contain ""forward looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved'. Forward-looking information is based on the reasonable assumptions, estimates, intentions, analysis and opinions of Waymar made at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Waymar to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in Waymar's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Waymar's plans and objectives and may not be appropriate for other purposes. Waymar does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Contacts:
Waymar Resources Ltd.
Investor Relations
1-778-373-0100
info@waymarresources.com