Hayasa Metals Announces Completion of 2026 Urasar Drill Program, and Warrant Extension Application
Hayasa completes drilling at Urasar while filing a warrant extension, with assay results still pending.
Hayasa Metals Inc. (HAY) has completed a 1,000-meter diamond drilling program at its Urasar Project in Armenia, consisting of two holes, UDD-022 and UDD-023, which targeted the Oxide Basin and Silica West prospects. The company expects assay results from the ALS laboratory in mid-October 2026.
Visual core observations indicate intense silicification, brecciation, and pyrite/chalcopyrite mineralization, which management interprets as evidence of a porphyry-style hydrothermal system. Management noted previous strong mineralization in hole UDD-021, which returned 39m at 0.50% Cu and 0.18 g/t Au, and expects similar or better results from the new program.
In an administrative announcement, Hayasa Metals proposed extending the expiry of 11.16 million warrants from March 23, 2027, to March 23, 2028. The warrants carry a $0.22 exercise price and are subject to TSX Venture Exchange approval. Future plans include exploration at Amasia, Mount Stephanie, Hovo's Reward, and Vardenis, alongside the renewal of the Urasar license.
Hayasa Metals Inc. (HAY) has completed its drill program, a routine operational milestone that carries neutral market impact until actual assay data is released. Visual core descriptions provided in the update are standard exploration updates and do not constitute economic mineralization; without assay results, they cannot be quantified for valuation.
The company also announced a warrant extension, an administrative action that delays near-term dilution but does not improve the underlying asset or financial position. This news aligns perfectly with the previously announced 2026 drilling plan and geophysical survey results from June 2026, with no new information or surprises present. Given the lack of assay data and the routine nature of the update, the immediate impact on the stock price is expected to be minimal.
Hayasa Metals Inc. is a low microcap exploration company focused on copper, gold, and other base metals in Armenia. Its flagship asset is the Urasar Copper-Gold Project, a 3,380-hectare exploration permit featuring a 15-kilometer continuous geochemical anomaly with three mineralized zones: Oxide Basin, Black River, and Yellow River.
The company also holds the Vardenis Copper-Gold Project, a 93 km² property with a 35 km² alteration footprint, structured under a joint venture with Teck Resources. Additionally, Hayasa Metals holds producing assets at the Tocantinzino and Cuiú Cuiú gold mines in Armenia. The management team is led by CEO Joel Sutherland and Chairman/President Dennis Moore, with a board featuring experienced mining executives.