Waymar Resources Ltd.
TSX VENTURE : WYM

Waymar Resources Ltd.

February 06, 2012 08:30 ET

Waymar Announces Assay Results From the Phase Two Drill Program on Anza Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2012) - Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased to announce the assay results from 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 7 diamond drill holes totalling 2,130 metres. The holes statistics are as follows:

Hole Number Northing Easting Elevation Azimuth Dip Total Depth
(m) (m) (m) (°) (°) (m)
MAP-11 694494 400027 1132 270 -50 385
MAP-12 694634 399735 1113 090 -50 354
MAP-13 693982 399726 907 150 -50 320
MAP-14 693985 399730 890 090 -50 282
MAP-15 694380 399800 1023 090 -50 357
MAP-16 695657 400429 1040 270 -50 277
MAP-17 695117 400198 1011 270 -50 153

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 (click here to view maps - http://waymarresources.com/_resources/news/20120206/map1.jpg, http://waymarresources.com/_resources/news/20120206/map2.jpg, http://waymarresources.com/_resources/news/20120206/map3.jpg).

All 7 holes intersected mineralization. Holes MAP-16 and MAP-17 encountered the mineralized system but were abandoned due to poor drilling conditions before reaching their planned depths. The assay results of the major intersections for each hole are listed in the following table.

Hole Number From To Interval Au Ag Zn
(m) (m) (m) (g/t) (g/t) (%)
MAP-11 122.50 125.91 3.41 1.30 15.62 0.06
136.80 145.00 8.20 0.30 0.96 0.52
149.50 151.25 1.75 1.66 0.40 1.09
194.30 200.80 6.50 0.41 0.24 0.19
213.00 219.00 6.00 18.26 1.95 0.35
including 217.50 219.00 1.50 72.30 6.90 0.93
241.40 262.40 21.00 0.18 40.08 0.07
268.90 273.00 4.10 0.80 0.30 0.09
277.00 282.00 5.00 0.31 0.63 0.03
298.00 301.00 3.00 0.53 0.10 0.14
MAP-12 197.00 210.00 13.00 0.69 0.29 0.10
225.00 245.75 20.75 1.16 4.68 0.44
including 244.50 245.75 1.25 11.90 7.30 0.39
299.50 312.50 13.00 0.33 4.25 0.12
317.15 325.50 8.35 0.29 3.05 0.26
MAP-13 155.75 159.70 3.95 0.28 2.23 0.50
175.00 183.68 8.68 0.67 5.22 0.22
MAP-14 159.45 176.00 16.55 0.92 52.10 0.33
MAP-15 62.00 65.00 3.00 0.32 2.33 0.03
71.00 76.00 5.00 0.64 1.12 0.13
83.00 86.40 3.40 0.50 1.44 2.51
96.00 105.31 9.31 0.70 5.13 0.42
199.50 235.00 35.50 0.68 2.80 0.70
281.30 308.10 26.80 0.31 5.96 1.29
MAP-16 214.00 215.50 1.50 0.38 0.10 0.00
MAP-17 49.50 56.60 7.10 0.53 25.66 0.05
72.00 75.00 3.00 2.22 4.63 0.29
125.50 146.00 20.50 1.05 2.57 0.40
including 125.50 128.50 3.00 5.40 9.10 0.56

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.

There appears to be multiple zones of precious metal mineralization on the hanging-wall of the Aragón Fault. The consistent gold and silver intervals along this major fault system are very encouraging. Potential strike extensions of the deposit, as well as other independent targets, have been identified by geochemical surveys and geological mapping.

A total of 5,315 metres of diamond core drilling has been completed in 2011 on this previously undrilled property. Drilling has resumed in January 2012 using two drill rigs.

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

"Our new exploration model has given us uncommon success. The picture emerging is a deposit of at least 2 km in strike length, a surface expression of over 100 metres in width and significant vertical continuity, still open to grow. Most of our current efforts are aimed at infill drilling and to better understand the controls on metal grade distributions in this very strong system," said Pablo Marcet, President.

Waymar is well funded, with a cash balance of approximately $10 million.

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. 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 Anzá that cover the district's mineral potential and is continually seeking opportunities to acquire exploration properties.

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.

WAYMAR RESOURCES LTD.

Pablo Marcet, President & CEO

This news release may contain forward-looking statements based on assumptions and judgments of management of Waymar regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, certain of which are beyond the control of Waymar, including, but not limited the impact of general economic conditions, industry conditions, risks associated with the uncertainty of exploration results and estimates, currency fluctuations and exploration risk. Waymar disclaims any intention or obligation to revise or update such statements except as may be required by law.

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