The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Waymar Reports Results From Detailed Soil Sampling Around Anza and Identifies New Exploration Targets

Wednesday, September 05, 2012

Waymar Reports Results From Detailed Soil Sampling Around Anza and Identifies New Exploration Targets08:00 EDT Wednesday, September 05, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2012) - Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased to report the results from its Phase 2 detailed soil sampling campaign around the discovery at Anzá.The survey revealed significant gold anomalous zones beyond the area covered by the Company's current drilling program. This news release should be read in conjunction with the map captioned as "Au Contours in Soils - Detailed Geochemistry Survey (Phases 1 + 2)" available on the Company's website at the link: http://www.waymarresources.com/projects/maps/, showing the assay values reported in contour format. The Jesuitas, Guaimarala and Charrascala anomalies are similar in strength or better than the area around the Anzá deposit drilled so far. The Jesuitas and Guaimarala anomalies are interpreted as strong indications of mineralization on strike extensions of the Aragón fault. Charrascala is a roughly north-south zone parallel to, and 1.5 km west of, the Anzá deposit. Charrascala corresponds to areas where mineralization, including veins, breccias and an artisanal copper mine hosted by a diorite, have been identified at surface. "These are very encouraging results. They reinforce our intention to continue drilling the extensions of the Anzá deposit along the Aragón fault. They also indicate that within the immediate vicinity of Anzá there is good potential for fresh new discoveries," said Pablo Marcet, President of Waymar.The Phase 2 sampling consisted of 1,405 soil samples taken every 50 m on lines oriented east-west and separated by 100 m. The samples were taken from the "C" soil horizon with the aid of manual Auger drills. This sampling campaign is an extension of the original orientation survey, which consisted of 789 soil samples taken with identical spacings and protocols, and which guided the first drilling on the property in early 2011.An industry standard Quality Control and Quality Assurance program, which includes Standard Reference Materials, blanks and duplicates, was established and followed during the sampling program. Samples were assayed for gold by a 30 gram fire assay with an AAS finish, and 35 element geochemical analyses completed using an aqua regia digestion with an ICP-AES finish. All soil and rock samples were prepared in Medellín, Colombia, and assayed in Lima, Perú, by ALS Group Laboratories which are ISO 9001:2008 certified laboratories. David Makepeace, M.Eng., P.Eng., senior geologist for Micon International Limited is the qualified person 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 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 & CEOThis 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: 46,945,170FOR FURTHER INFORMATION PLEASE CONTACT: Investor RelationsWaymar Resources Ltd.1-778-373-0100info@waymarresources.comwww.waymarresources.comNEITHER 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.