Waymar Resources Ltd.

Waymar Resources Ltd.

January 28, 2013 08:30 ET

Waymar Identifies Significant New Gold Anomalies and Prepares Targets for 2013 Drilling at Anza, Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2013) - Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased to report significant results from a new geochemical survey near its Anzá deposit, Antioquia Department, Colombia. This geochemical survey extended the systematic surface exploration to the north of the Anzá 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.


An extension of the soil geochemical survey to the north of the Anzá 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 Anzá 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 Anzá land package systematically and to build access to new drill sites in and around the Anzá 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."


During the fourth quarter of 2012, the Company continued to extend the area of systematic exploration to the north of the Anzá 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 Anzá 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 Anzá property. A total of 17,408 metres have been drilled and assayed on the Anzá deposit between April 2011 and November 2012. Mineralization at Anzá, as shown by drilling results, extends at least 2,500 metres along the Aragón 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 Medellín, 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 Anzá 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 Anzá 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 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.


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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