Waymar Resources Ltd.
TSX VENTURE : WYM

Waymar Resources Ltd.

April 02, 2012 08:30 ET

Waymar Announces Assay Results From Ongoing Drill Program on Their Anza Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2012) - Waymar Resources Ltd. ("Waymar" or the "Company") (TSX Venture:WYM) is pleased to announce the assay results from the continuation of the Phase Two drilling at its Anzá property, Antioquia Department in the Republic of Colombia. Minera Anzá S.A. Sucursal Colombia ("Minera Anzá SA"), the Company´s Colombian subsidiary, has completed an additional 4 diamond drill holes totalling approximately 1,502 metres. The holes statistics are as follows:

Hole
Number
Northing
(m)
Easting
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Total Depth
(m)
MAP-18 694628 399773 1115 090 -60 154.90
MAP-19 694767 399837 1161 090 -60 500.09
MAP-20 694606 399991 1150 240 -60 350.20
MAP-21 694767 399837 1161 125 -50 496.93

The initial phase of drilling had indicated that the Aragón Fault was a potential mineralizing system for the area. The new drilling program targeted the northern and southern strike extensions of the Aragón Fault to test this theory, over a strike length of approximately 2,000 metres.

MAP-18 was abandoned before it reached its target depth. The remaining 3 holes intersected mineralization. Holes MAP-20 and MAP-21 encountered significant mineralization. The assay results of the major intersections for each hole are listed in the following table.

Hole
Number
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
Zn
(%)
MAP-19 43.5 49.0 5.5 0.28 5.41 0.08
50.0 56.0 6.0 0.06 20.17 0.06
134.0 137.0 3.0 0.07 8.87 0.01
155.6 158.5 2.9 0.44 2.91 0.04
200.0 203.2 3.2 0.35 14.54 0.35
212.5 216.7 4.2 2.01 0.30 0.01
including 212.5 214.0 1.5 5.24 0.30 0.01
239.0 246.3 7.3 0.44 0.32 0.01
251.0 275.0 24.0 0.97 4.19 1.81
including 257.0 258.0 1.0 3.83 1.90 1.02
including 258.0 259.3 1.3 2.67 19.50 19.20
302.5 311.5 9.0 0.22 1.47 1.03
314.5 317.5 3.0 0.49 0.35 0.02
324.0 334.5 10.5 0.57 4.94 0.05
338.0 342.5 4.5 0.52 6.40 0.02
348.5 351.5 3.0 0.41 2.55 0.12
376.0 384.5 8.5 0.11 2.01 1.13
393.5 398.0 4.5 0.09 1.13 2.76
449.0 455.0 6.0 1.63 4.03 0.18
including 450.5 452.0 1.5 5.43 3.50 0.33
MAP-20 132.0 142.3 10.3 0.24 1.52 0.12
145.0 186.0 41.0 3.85 1.39 1.25
including 150.5 153.0 2.5 5.26 2.39 3.94
including 157.5 159.0 1.5 6.89 1.40 4.74
including 171.33 177.0 5.7 19.84 3.94 1.66
224.5 240.5 16.0 0.59 1.51 0.03
including 224.5 226.0 1.5 4.14 1.30 0.13
262.2 295.7 33.5 0.53 1.73 0.18
including 288.1 289.5 1.4 2.27 2.20 0.02
including 294.7 295.7 1.0 3.93 1.40 0.01
MAP-21 41.0 46.0 5.0 0.28 6.24 0.03
161.7 171.5 9.9 1.73 19.73 0.69
including 161.7 168.5 6.8 2.39 27.72 0.85
190.0 204.5 14.5 1.91 1.77 0.25
including 196.0 204.5 8.5 3.05 2.12 0.20
224.0 242.0 18.0 14.14 2.05 2.83
including 224.0 231.6 7.6 30.78 4.43 6.06
including 225.0 229.4 4.4 45.62 5.47 10.59
252.0 259.5 7.5 2.16 2.04 2.88
including 252.0 253.0 1.0 10.85 1.80 0.67
285.0 288.0 3.0 0.49 4.10 0.41
294.0 297.0 3.0 0.45 1.00 1.18
300.3 314.0 13.7 0.76 1.39 1.22
including 310.0 311.5 1.5 3.37 5.90 4.48
322.5 325.5 3.0 0.33 0.53 0.05
330.0 340.5 10.5 0.99 2.13 0.01
including 334.5 336.0 1.5 2.52 7.50 0.01
353.0 356.5 3.5 1.09 1.01 0.30

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.

The analytical procedure 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 g sample nominal sample weight and analysis by fire assay and gravimetric finish is undertaken (Au-GRA21).

There appears to be multiple zones of high grade precious metal mineralization along the Aragón Fault. The consistent anomalous gold and silver intervals continue along this major fault system. A total of approximately 6,817 metres of diamond core drilling have been completed in 2011-12 drill program up to hole MAP-21. Drilling is ongoing.

An industry standard Quality Control and Quality Assurance program, which includes Standard Reference Materials, blanks and duplicated 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, Columbia and assayed in Lima Peru by ALS Group Laboratories which are ISO 9001:2008 certified laboratories.

"The high grade intercepts of drill holes MAP-19, MAP-20 and MAP-21 are roughly aligned over 220 m and seem to be part of a continuous zone. This is the kind of high grade sweetener that we were expecting and hoping to find," said Pablo Marcet, President.

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.

There has been insufficient exploration to define a mineral resource at the Anzá property to date, and it is uncertain if further exploration will result in targets being delineated as a mineral resource. Any potential quantity and grades are conceptual in nature.

Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anzá 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 Anzá 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 Anzá 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: 45,945,170

Neither 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.

Contact Information