Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased
to announce that Arce Geofisicos of Lima, Peru has completed a 30 km orientation
Pole-Pole Induced Polarization ("IP"), Resistivity and Magnetometry survey on
the Anza property, centred on La Pastorera volcanic massive sulphide ("VMS")
occurrence, during August and September 2010. The final interpretation report
was received from Ontario-based GeophysicsOne in November 2010. The main
purposes of the survey were to identify any geophysical targets prospective for
VMS mineralization, characterize the geophysical response of the VMS occurrence
and surrounding host rocks and assess the likelihood that the larger project
area would be amenable to prospecting with helicopter-borne electromagnetic
("EM") surveys. 


A moderately strong (35mV/V), shallow, IP anomaly is centred approximately 125m
west of the VMS occurrence in an area which can be interpreted as a fold
repetition of the mine horizon. This presents a high priority target although
the possibility of interference from nearby infrastructure cannot be ruled out.
A total of four other potential targets which were also identified, three of
which are considered high priority for follow up and one which should be pursued
only if similar, but stronger anomalies located along strike yield encouraging
results. 


Electrical conditions appear favourable for airborne EM surveys. However, at
this time the cause of the anomalies is not known so a decision regarding an
airborne EM survey is deferred until completion of the initial drill campaign. 


Detailed geochemical surveys and geological mapping are in progress and drill
sites are being defined to start drilling in Q1 2011.


"We are pleased to have completed this first geophysical survey on the core of
the Anza property. Geochemistry and geological mapping along the grid of the
geophysics survey and in the underground mine are well advanced and we look
forward to start drilling in the current quarter," said Pablo Marcet, President
and CEO. 


For further details on the Anza property, please refer to the technical report
entitled "Waymar Resources Ltd. - Anza VMS Project, Project No L00176,
Geological and Exploration Review" dated May, 2010 and prepared by Mr. C.J.
Bargmann and Dr. I.M. Platten on behalf of Snowden, available on SEDAR at
www.sedar.com.


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 to cover district potential and
is continually seeking opportunities to acquire exploration properties. Waymar
trades on the TSX Venture Exchange under the symbol "WYM". 


WAYMAR RESOURCES LTD.

Pablo Marcet, President & CEO

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 such
targets being delineated as a mineral resource. All scientific and technical
information in this press release has been prepared under the supervision of,
and verified by Mr. Peter Diorio, of GeophysicsOne Inc. a "qualified person"
within the meaning of National Instrument 43-101. 


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". These forward-looking statements are
subject to numerous risks and uncertainties, certain of which are beyond the
control of Waymar, including, but not limited to, the impact of general economic
conditions, industry conditions, volatility of financial markets and commodity
prices, risks associated with the uncertainty of exploration results and
estimates, the uncertainty of obtaining additional financing and exploration
risk. 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.


Shares Outstanding: 33,801,420

Vortex Metals (TSXV:VMS)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Vortex Metals Charts.
Vortex Metals (TSXV:VMS)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Vortex Metals Charts.