Waymar Resources Ltd. (“Waymar” or the “Company”) (WYM.V – News) is pleased to announce the completion of a 2,867 km helicopter magnetic and radiometric survey, covering approximately 260 km2, over their Anza project in Antioquia, Colombia.
The survey was completed by MPX Geophysics Ltd., of Markham Ontario, at a nominal altitude of 70m and 100m traverse line separation. The results will be used to aid geologic mapping, identify structures and alteration associated with hydrothermal mineralization and possible porphyry copper-gold systems within the project area. The survey data is currently being processed by MPX and final products are expected by July 2012.
Waymar has also completed a structural evaluation using Radar images over the entire area of the land package held in the Anza district. The images were acquired, processed and interpreted by Alto Americas S.A., of Buenos Aires, Argentina, a company that specializes in remote sensing products and services.
“The preliminary geophysical data confirms that the Aragon structure, which controls the gold mineralization at the Anza deposit, is a continuous, district-wide feature,” commented Pablo Marcet, CEO. “The combination of Magnetics and Radiometrics is giving us a powerful tool to identify and prioritize targets in our extensive land package. Together with the interpreted Radar images, previous geological mapping and geochemistry, we have an excellent technical base to start testing the numerous exploration targets in the district. Meanwhile, we continue to drill at Anza and aim to release a new batch of drill results before the end of June.”
Peter Diorio, P. Geo., President of GeophysicsOne Inc. is the qualified person related to the helicopter magnetic and radiometric survey and has reviewed and verified the technical disclosure contained herein and accepts responsibility for such disclosure. David Makepeace, M.Eng., P.Eng., senior geologist for Micon International Limited is the qualified person for the Anza drill program, as defined by National Instrument 43-101.
There has been insufficient exploration to define a mineral resource at the Anza 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 Anza 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 Anza 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 Anza 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.
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