Waymar Intersects 10.2 Metres Grading 58.0 g/t Gold; Drills Best Gold and Silver Intercepts to Date at Anza
October 09 2012 - 8:00AM
Marketwired Canada
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 deposit, Antioquia Department, Colombia. These holes are part of an overall
drilling program that continues to expand the Anza deposit along the Aragon
fault and to identify and delineate high grade gold and silver mineralization.
Highlights
Drill hole MAP-48 was drilled from the west to test the continuity and thickness
of the high grade gold zone intersected in MAP-33, MAP-20, MAP-42, MAP-11 and
MAP-24. This zone now extends over at least 140 m strike-length. Significant
intercepts include:
-- 14.7 m of 40.3 g/t Au, including 10.2 m of 58.0 g/t Au and 1.9 m of
219.0 g/t Au.
-- 2.2 m of 7.8 g/t Au.
Drill hole MAP-47 is located between drill holes MAP-29 and MAP-14,
approximately 150 m south of the La Pastorera gypsum mine. It encountered
several mineralized zones in the hanging-wall of the Aragon fault. The most
significant intercept shows a zone of high grade silver coincident with gold, as
follows:
-- 13.3 m of 2.2 g/t Au and 316.3 g/t Ag, including 4.5 m of 4.7 g/t Au and
768.9 g/t Ag.
Drill hole MAP-46 is located 40 m north of MAP-29 and approximately 80 m south
of the La Pastorera gypsum mine. It encountered several zones of shallow
mineralization, including:
-- 10.5 m of 2.7 g/t Au, including 1.5 m of 6.1 g/t Au.
-- 8.7 m of 2.3 g/t Au, including 1.5 m of 8.6 g/t Au.
-- 4.8 m of 4.0 g/t Au, including 1.5 m of 10.6 g/t Au.
"Surprises to the upside continue in our exploration in and around the Anza
discovery," commented Pablo Marcet, President of Waymar. "MAP-48 drilled our
highest grade gold intercept to date and, 600 m to the south, MAP-47 identified
the best combined silver-gold intercept."
Details
Mineralization at Anza, as proven by drilling results, extends at least 2,500
metres along the Aragon Fault. The deposit remains open to the north and south,
as well as down-dip. Other targets in the area, including those recently
identified by soil geochemistry in the immediate vicinity of the deposit and
others identified through airborne geophysics, remain untested by drilling.
A summary of significant results in these drill holes is listed in the following
table:
----------------------------------------------------------------------------
From To Interval Au Ag Zn
Hole Number (m) (m) (m) (g/t) (g/t) (%)
----------------------------------------------------------------------------
MAP-44 71.0 73.0 2.0 0.47 4.70 0.07
------------------------------------------------------------
93.7 95.0 1.3 1.04 4.30 0.01
------------------------------------------------------------
101.0 150.0 49.0 0.10 1.02 0.59
------------------------------------------------------------
261.0 266.5 5.5 1.04 2.48 0.02
----------------------------------------------------------------------------
MAP-45 201.4 205.5 4.1 2.64 0.96 0.17
------------------------------------------------------------
including 201.4 202.8 1.4 5.46 1.40 0.21
------------------------------------------------------------
208.5 212.0 3.5 0.79 1.27 0.84
------------------------------------------------------------
226.5 228.0 1.5 1.11 0.60 0.03
------------------------------------------------------------
240.5 249.0 8.5 0.56 0.64 0.19
------------------------------------------------------------
253.0 257.5 4.5 0.93 1.27 0.43
------------------------------------------------------------
269.5 271.0 1.5 1.50 0.60 0.01
------------------------------------------------------------
280.5 288.0 7.5 0.47 0.40 0.02
----------------------------------------------------------------------------
MAP-46 0.0 15.3 15.3 0.45 7.94 0.14
------------------------------------------------------------
28.6 39.0 10.5 2.71 0.51 0.19
------------------------------------------------------------
including 33.0 34.5 1.5 6.12 0.80 0.33
------------------------------------------------------------
54.0 62.7 8.7 2.34 0.70 0.17
------------------------------------------------------------
including 57.0 58.5 1.5 8.64 1.30 0.24
------------------------------------------------------------
67.0 71.8 4.8 4.03 0.74 0.43
------------------------------------------------------------
including 68.5 70.0 1.5 10.55 1.70 1.32
------------------------------------------------------------
76.6 77.6 1.0 1.89 0.30 0.42
----------------------------------------------------------------------------
MAP-47 16.0 22.0 6.0 0.68 0.61 0.13
------------------------------------------------------------
52.2 65.6 13.4 0.38 3.01 0.07
------------------------------------------------------------
73.0 75.0 2.0 0.55 4.65 0.04
------------------------------------------------------------
79.6 87.0 7.4 0.84 16.64 0.29
------------------------------------------------------------
105.0 118.3 13.3 2.24 316.25 1.00
------------------------------------------------------------
including 106.0 110.5 4.5 4.69 768.89 2.34
------------------------------------------------------------
125.7 127.0 1.3 1.15 13.20 0.52
------------------------------------------------------------
141.7 143.0 1.3 1.59 5.20 0.15
------------------------------------------------------------
149.5 163.0 13.6 1.13 8.79 0.83
------------------------------------------------------------
including 152.5 155.5 3.0 3.33 27.22 1.18
----------------------------------------------------------------------------
MAP-48 54.5 58.1 3.6 0.46 4.40 0.24
------------------------------------------------------------
62.0 63.5 1.5 0.63 7.70 0.02
------------------------------------------------------------
66.4 67.9 1.5 2.24 2.30 0.52
------------------------------------------------------------
79.5 83.7 4.2 0.60 1.74 0.54
------------------------------------------------------------
128.0 135.5 7.5 0.93 0.38 1.07
------------------------------------------------------------
163.0 173.5 10.5 1.11 0.46 1.43
------------------------------------------------------------
181.0 195.7 14.7 40.34 9.30 3.41
------------------------------------------------------------
including 185.5 195.7 10.2 58.03 13.16 4.85
------------------------------------------------------------
including 187.6 189.5 1.9 219.00 29.50 6.55
------------------------------------------------------------
199.3 201.5 2.2 7.80 2.19 0.29
------------------------------------------------------------
225.6 228.8 3.2 1.74 1.49 2.05
------------------------------------------------------------
258.9 289.5 30.6 0.31 4.68 0.05
----------------------------------------------------------------------------
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.
Since the Company's last news release of drilling results on September 17, 2012,
an extra 1,324 metres have been drilled and assayed on the Anza deposit, for a
total of 16,066 metres drilled and assayed since the start of the drill
programme in April 2011.
The diamond drill holes statistics are as follows:
----------------------------------------------------------------------------
Total
Northing Easting Elevation Azimuth Dip Depth
Hole Number (m) (m) (m) (degrees) (degrees) (m)
----------------------------------------------------------------------------
MAP-44 695,113 400,193 982 290 -50 291.3
----------------------------------------------------------------------------
MAP-45 694,875 400,075 1,044 285 -55 320.4
----------------------------------------------------------------------------
MAP-46 694,082 399,875 895 115 -70 184.5
----------------------------------------------------------------------------
MAP-47 694,032 399,841 899 115 -80 224.2
----------------------------------------------------------------------------
MAP-48 694,589 399,857 1,094 90 -70 303.9
----------------------------------------------------------------------------
Drill hole location maps can be found on the Waymar website at the following
link: http://www.waymarresources.com/projects/maps/.
Technical Information
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 gram
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.
An industry standard Quality Control and Quality Assurance program, which
includes Standard Reference Materials, blanks and duplicates is established and
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 part of 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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