UpdateWaymar Resources Ltd.
TSX VENTURE : WYM
November 26, 2012 08:00 ET
Waymar Intersects 17.5 m of 5.2 g/t Gold, 38.1 m of 2.3 g/t Gold, 10.2 m of 4.9 g/t Gold and Multiple Zones of High Grade Gold and Zinc at Anza
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased to report significant results from five additional diamond drill holes on its Anzá deposit, Antioquia Department, Colombia. These holes are part of an overall drilling program that continues to expand the Anzá deposit along the Aragón fault and to identify and delineate high grade gold, silver and zinc mineralization.
Highlights
Drill hole MAP-51 confirmed the continuity of the high grade gold zone identified in drill holes MAP-21 and MAP-38. It also intersected a new high grade gold zone near the end of the hole. These gold intercepts also contain significant zinc grades, as follows:
- 17.5 m of 5.2 g/t Au and 1.5% Zn, including 7.0 m of 12.4 g/t Au and 3.6% Zn.
- 38.1 m of 2.3 g/t Au and 3.9% Zn, including 6.0 m of 8.4 g/t Au and 5.3% Zn.
Drill hole MAP-53 tested the zone between drill holes MAP-28 and MAP-43. It intersected very significant and near-continuous mineralized widths, including two zones of high grade gold. Significant intercepts include:
- 9.0 m of 3.2 g/t Au, including 3.0 m of 7.1 g/t Au.
- 10.2 m of 4.9 g/t Au, including 3.0 m of 12.5 g/t Au.
- 11.0 m of 2.1 g/t Au.
- 16.5 m of 2.4 g/t Au.
Drill holes MAP-49 and MAP-50 tested the zone of high grade gold previously identified in holes MAP-24, MAP-11, MAP-42, MAP-20, MAP-33 and MAP-48. Significant intercepts include:
- 1.0 m of 6.8 g/t Au (MAP-49).
- 17.8 m of 1.1 g/t Au (MAP-49).
- 1.5 m of 10.1 g/t Au (MAP-50).
Drill hole MAP-52 was lost due to technical difficulties before reaching its target depth and a predicted high grade gold zone but intersected significant zinc mineralization, as follows:
- 75.9 m of 1.5% Zn, including 8.2 m of 4.8% Zn at the end of the hole.
"Our drilling continues to expand the high grade gold zones and to identify new ones", commented Pablo Marcet, President of Waymar. "This batch of five drill holes intersected seven zones grading better than 5 g/t gold, as well as significant widths of continuous gold and zinc mineralization."
Details
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 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, are being prepared for drilling.
A summary of significant results in these drill holes is listed in the following table:
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 October 9, 2012, an extra 1,342 metres have been drilled and assayed on the Anzá deposit, for a total of 17,408 metres drilled and assayed since the start of the drill programme in April 2011.
The diamond drill holes statistics are as follows:
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 Medellín, Colombia, and assayed in Lima, Perú, 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 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.
WAYMAR RESOURCES LTD.
Pablo Marcet, President & CEO