Waymar Identifies Significant New Gold Anomalies and Prepares Targets for 2013 Drilling at Anza, Colombia
January 28 2013 - 7:30AM
Marketwired Canada
Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased
to report significant results from a new geochemical survey near its Anza
deposit, Antioquia Department, Colombia. This geochemical survey extended the
systematic surface exploration to the north of the Anza deposit and covered
approximately 20 km2 of untested ground. The focus of the program was to target
extensions of known mineralized structures and prospective rocks, including a
group of intrusives previously identified by mapping and airborne geophysics.
Development of key infrastructure continues at the project and at nearby
targets.
Highlights
An extension of the soil geochemical survey to the north of the Anza deposit has
identified significant gold anomalies related to tonalite and diorite intrusive
rocks that cover an area of approximately 6.1 km2. The most significant gold
anomaly measures approximately 1 km2 and is associated with the northern edges
of the intrusions. Project maps, including those related to the soil geochemical
survey reported here, can be found on the Waymar website at the following link:
http://www.waymarresources.com/projects/maps/.
Work continues on developing infrastructure in and around the Anza deposit.
Access-related infrastructure for the initial drill program at the Charrascala
target is well advanced and will be complete by March 2013. The main core shack
and exploration camp are being expanded.
"We continue to explore our Anza land package systematically and to build access
to new drill sites in and around the Anza discovery," commented Pablo Marcet,
President of Waymar. "The northern extension of our geochemical survey shows
very significant gold anomalies and has generated a new set of promising drill
targets."
Details
During the fourth quarter of 2012, the Company continued to extend the area of
systematic exploration to the north of the Anza deposit. A soil sampling program
was conducted on approximately 70-metre linear spacings along the ridges of an
area covering 20 km2. Rock chip samples were taken from areas of outcrops. In
total, the survey consisted of 1,055 soil samples and 97 rock chip samples.
Including this extension, the detailed soil geochemical survey now covers 10 km
in the north-south direction and 4 km in the east-west direction, or
approximately 40 km2.
Large areas of anomalous gold values were identified in the survey. The
anomalies are spatially related to undated intrusive rocks of tonalite to
diorite compositions. These lithologies present strong magnetic and radiometric
signatures (from the airborne geophysical survey of 2012) and exhibit high
magnetite content and variable sulfide content, including pyrite, chalcopyrite,
bornite and sphalerite. The largest of these gold anomalies is centred
approximately at UTM coordinates 701,500 mN and 400,700 mE, measures 1 km2 and
is open to the north. It coincides with strongly faulted, fractured and oxidized
contacts of intrusive and sedimentary rocks.
Development of key infrastructure continues. The main access road to the
Charrascala target is now complete and work continues on building river
crossings and bridges, as well as adding safety rails to an existing bridge.
These preparations and the platforms for the initial drill program at
Charrascala will be ready by March 2013. The main core shack at the Anza
exploration camp is being expanded to accommodate 40,000 metres of core (from
the current 20,000 metre capacity).
Since the Company's last news release of drilling results on November 26, 2012,
no drilling has been carried out on the Anza property. A total of 17,408 metres
have been drilled and assayed on the Anza deposit between April 2011 and
November 2012. Mineralization at Anza, as shown by drilling results, extends at
least 2,500 metres along the Aragon Fault. The deposit remains open to the
north, to the south, and 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, are being prepared
for drilling.
Technical Information
The analytical procedures for silver, zinc, copper and lead are based on a
two-acid digestion (a combination of HNO3 and HCI) - 0.25/15 ml. After the
digestion, the solution is analyzed by ICP-MS determination for multi-elements.
The fire assay for gold begins with 50 g sample, using the method: FAA515 Au 5
ppb - 10,000 ppb 50g, Fire Assay and AAS Finish. All soil and rock chip samples
were prepared and analyzed in Medellin, Colombia, by SGS, which is an ISO 9001
and ISO/IEC 17025 certified laboratory.
An industry standard Quality Control and Quality Assurance program, which
includes Standard Reference Materials, blanks and duplicates is established and
followed during the sampling program. A complete QA/QC statistical analysis is
presently being undertaken for the company by Micon International Limited.
David Makepeace, M.Eng., P.Eng., senior geologist for Micon International
Limited is the qualified person for the Anza exploration 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.
Shares Outstanding: 46,945,170
FOR FURTHER INFORMATION PLEASE CONTACT:
Waymar Resources Ltd.
Investor Relations
1-778-373-0100
info@waymarresources.com
www.waymarresources.com
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