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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Cabia Goldhills Inc. ("Cabia")(TSX VENTURE:CGH) is pleased to provide an update on the exploration activities at its 100% owned Mejia Gold Project, Colombia. Following the acquisition of the project, Cabia contracted MPX Geophysics Ltd to complete an airborne magnetic and radiometric survey comprising 694 line-km over its property. Paterson Grant and Watson of Toronto provided an initial interpretation of the data. Field exploration activities followed the airborne survey and to date four areas with mineralization potential have been identified. Two with the presence of vein type mineralization and the other two with Cu-Mo-Au potential.
Vein type mineralization at surface are of centimetric width, partially outcropping and covered by soil; having visible sphalerite, galena and pyrite, with or without tourmaline mineralization hosted in a metamorphic package. Bulk tonnage targets are related to disseminated pyrite associated to silica ridges and outcrops overlaid by volcanics in addition to outcrops characterized by disseminated pyrite plus sericitic alteration and locally together to tourmaline dissemination in hydrothermal breccias and intrusive rocks. Larger areas are affected by propylitic alteration covering ridges as well as along structures.
As an ongoing exploration process, Cabia is commencing a soil sampling program over the southern portion of its concession, adjacent to the existing La Gloria Mine where previous sampling returned up to 171.5 g/t Au content, to evaluate the potential for an extension of this mining zone onto the Cabia property as discussed in the 43-101 report available on the company's SEDAR profile at http://www.sedar.com.
Cabia expects to receive geochemical sampling results of its first phase sampling programs within the next month, following which targets for follow-up exploration will be defined.
The Mejia Gold Project is a 6,946 ha mineral concession located close to sea level and outside of any environmentally restricted areas in the Sur de Bolivar region of the Department of Bolivar, Colombia, were intense artisanal mining is present in an under-explored gold district with high exploration potential.
Michel Delisle, CEO, stated "The Sur de Bolivar region is characterized by artisanal gold mining of high grade veins. The adjacent La Gloria traditional mines illustrate this with Cabia grab sampling of selected mineral production grading upwards of 80.1, 138.0, 155.5 and 171.5 g/t gold. The Mejia Gold Project has potential for the discovery of further vein systems and we are excited by the rapid start-up of activities in our concession. Cabia is also looking to acquire further mineral concessions in this region."
Gee-Ten Ventures Inc. and Cabia completed a merger in October 2011, which included a private brokered placement raising $ 3.0 million.
Cabia is a TSX-V listed junior exploration company focused upon the exploration and development of gold projects in Colombia.
Quality Control and Assurance: Peter Bolt, VP operations for Cabia is the "Qualified Person", as defined by National Instrument 43-101, who is responsible for the management and disclosure of Cabia's exploration programs and disclosure of results. Mr. Bolt has read and approved the technical and scientific information in this news release.
Statements in this press release contain forward-looking information within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Readers are cautioned that assumptions used in the preparation of forward-looking information may prove to be incorrect. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors (many of which are beyond the control of Cabia) that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions, the risks associated with the mining exploration, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to: operational risks in exploration, development and production; delays or changes in plans; competition for and/or inability to retain other services; competition for, among other things, capital, acquisitions of reserves, undeveloped lands, skilled personnel and supplies; risks associated to the uncertainty of reserve estimates; governmental regulation, including environmental regulation; geological, technical, drilling and processing problems and other difficulties in producing reserves; the uncertainty of estimates and projections of production, costs and expenses; unanticipated operating events or performance which can reduce production or cause production to be shut in or delayed; incorrect assessments of the value of acquisitions; the need to obtain required approvals from regulatory authorities; stock market volatility; access to capital; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Cabia does not undertake any obligation to update or revise any forward-looking statements to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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