Waymar Resources Intersects 10.2 m Grading 58.0 g/t Gold; Drills Best Gold and Silver Intercepts to Date at Anza
09.10.2012 | Marketwired
VANCOUVER, 10/09/12 - 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 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: 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.
Shares Outstanding: 46,945,170
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Waymar Resources Ltd.
Investor Relations
1-778-373-0100
info@waymarresources.com
www.waymarresources.com
