Waymar Announces Assay Results From the Phase Two Drill Program on Anza Property
06 Febrero 2012 - 6:30AM
Marketwired Canada
Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased
to announce the assay results from the Phase Two drilling at its Anza property,
Antioquia Department in the Republic of Colombia. Minera Anza S.A. Sucursal
Colombia ("Minera Anza SA"), the Company's Colombian subsidiary, has completed
an additional 7 diamond drill holes totalling 2,130 metres. The holes statistics
are as follows:
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Hole Number Northing Easting Elevation Azimuth Dip Total Depth
(m) (m) (m) (degrees) (degrees) (m)
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MAP-11 694494 400027 1132 270 -50 385
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MAP-12 694634 399735 1113 090 -50 354
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MAP-13 693982 399726 907 150 -50 320
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MAP-14 693985 399730 890 090 -50 282
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MAP-15 694380 399800 1023 090 -50 357
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MAP-16 695657 400429 1040 270 -50 277
---------------------------------------------------------------------------
MAP-17 695117 400198 1011 270 -50 153
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The initial phase of drilling had indicated that the Aragon Fault was a
potential mineralizing system for the area. The new drilling program targeted
the northern and southern strike extensions of the Aragon Fault to test this
theory, over a strike length of approximately 2,000 metres (click here to view
maps - http://waymarresources.com/_resources/news/20120206/map1.jpg,
http://waymarresources.com/_resources/news/20120206/map2.jpg,
http://waymarresources.com/_resources/news/20120206/map3.jpg).
All 7 holes intersected mineralization. Holes MAP-16 and MAP-17 encountered the
mineralized system but were abandoned due to poor drilling conditions before
reaching their planned depths. The assay results of the major intersections for
each hole are listed in the following table.
------------------------------------------------------------
Hole Number From To Interval Au Ag Zn
(m) (m) (m) (g/t) (g/t) (%)
------------------------------------------------------------
MAP-11 122.50 125.91 3.41 1.30 15.62 0.06
-----------------------------------------------
136.80 145.00 8.20 0.30 0.96 0.52
-----------------------------------------------
149.50 151.25 1.75 1.66 0.40 1.09
-----------------------------------------------
194.30 200.80 6.50 0.41 0.24 0.19
-----------------------------------------------
213.00 219.00 6.00 18.26 1.95 0.35
-----------------------------------------------
including 217.50 219.00 1.50 72.30 6.90 0.93
-----------------------------------------------
241.40 262.40 21.00 0.18 40.08 0.07
-----------------------------------------------
268.90 273.00 4.10 0.80 0.30 0.09
-----------------------------------------------
277.00 282.00 5.00 0.31 0.63 0.03
-----------------------------------------------
298.00 301.00 3.00 0.53 0.10 0.14
------------------------------------------------------------
MAP-12 197.00 210.00 13.00 0.69 0.29 0.10
-----------------------------------------------
225.00 245.75 20.75 1.16 4.68 0.44
-----------------------------------------------
including 244.50 245.75 1.25 11.90 7.30 0.39
-----------------------------------------------
299.50 312.50 13.00 0.33 4.25 0.12
-----------------------------------------------
317.15 325.50 8.35 0.29 3.05 0.26
------------------------------------------------------------
MAP-13 155.75 159.70 3.95 0.28 2.23 0.50
-----------------------------------------------
175.00 183.68 8.68 0.67 5.22 0.22
------------------------------------------------------------
MAP-14 159.45 176.00 16.55 0.92 52.10 0.33
------------------------------------------------------------
MAP-15 62.00 65.00 3.00 0.32 2.33 0.03
-----------------------------------------------
71.00 76.00 5.00 0.64 1.12 0.13
-----------------------------------------------
83.00 86.40 3.40 0.50 1.44 2.51
-----------------------------------------------
96.00 105.31 9.31 0.70 5.13 0.42
-----------------------------------------------
199.50 235.00 35.50 0.68 2.80 0.70
-----------------------------------------------
281.30 308.10 26.80 0.31 5.96 1.29
------------------------------------------------------------
MAP-16 214.00 215.50 1.50 0.38 0.10 0.00
------------------------------------------------------------
MAP-17 49.50 56.60 7.10 0.53 25.66 0.05
-----------------------------------------------
72.00 75.00 3.00 2.22 4.63 0.29
-----------------------------------------------
125.50 146.00 20.50 1.05 2.57 0.40
-----------------------------------------------
including 125.50 128.50 3.00 5.40 9.10 0.56
------------------------------------------------------------
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.
There appears to be multiple zones of precious metal mineralization on the
hanging-wall of the Aragon Fault. The consistent gold and silver intervals along
this major fault system are very encouraging. Potential strike extensions of the
deposit, as well as other independent targets, have been identified by
geochemical surveys and geological mapping.
A total of 5,315 metres of diamond core drilling has been completed in 2011 on
this previously undrilled property. Drilling has resumed in January 2012 using
two drill rigs.
An industry standard Quality Control and Quality Assurance program, which
includes Standard Reference Materials, blanks and duplicates is established and
is followed during the drill program. A complete QA/QC statistical analysis is
presently being prepared for the Company by Micon International Limited. All
core samples were prepared in Medellin, Colombia and assayed in Lima, Peru by
ALS Group Laboratories, which are ISO 9001:2008 certified laboratories.
"Our new exploration model has given us uncommon success. The picture emerging
is a deposit of at least 2 km in strike length, a surface expression of over 100
metres in width and significant vertical continuity, still open to grow. Most of
our current efforts are aimed at infill drilling and to better understand the
controls on metal grade distributions in this very strong system," said Pablo
Marcet, President.
Waymar is well funded, with a cash balance of approximately $10 million.
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. 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 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.
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.
WAYMAR RESOURCES LTD.
Pablo Marcet, President & CEO
This news release may contain forward-looking statements based on assumptions
and judgments of management of Waymar regarding future events or results. Such
statements are subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected in the
forward-looking statements, certain of which are beyond the control of Waymar,
including, but not limited the impact of general economic conditions, industry
conditions, risks associated with the uncertainty of exploration results and
estimates, currency fluctuations and exploration risk. Waymar disclaims any
intention or obligation to revise or update such statements except as may be
required by law.
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