Northwire Canada EditionSaturday, July 11, 2026
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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Drill Results Neutral

Hayasa Metals Urasar 2026 Drilling Plan

Technical setbacks at Urasar offset by project pipeline expansion as investors await high-stakes Vardenis assays

By The Northwire Desk — AI Analysis Feb 05, 2026 · 08:31 HAY · 0.075 Hayasa Metals Inc.
Executive Summary

The February 5, 2026, news release serves as a corporate update covering four main areas: - Project Pipeline: The company has applied for three new mineralized areas in Armenia following surface sampling that showed anomalous gold, copper, and silver. - Urasar Update: The final 2025 drill hole (UDD-021) was abandoned at 235m (planned 500m) due to poor ground conditions and weather. Drilling is scheduled to resume in May 2026. - QA/QC Validation: Re-analysis of 38 samples at a second lab (SGS) confirmed the validity of previous results from the primary lab (ALS), addressing concerns raised in October 2025. - Corporate Changes: Kristina Mishina has been appointed CFO, replacing the retiring Paul Hansed. The company also granted 1.15 million stock options at an exercise price of $0.07.

Material Impact

The impact of this specific news release is Neutral. - The Negative: The abandonment of hole UDD-021 at Urasar is a setback. This hole was specifically designed to test a deep AMT conductivity anomaly. Failure to reach target depth delays the validation of the company's "deeper porphyry" thesis until mid-2026. - The Positive: The application for new licenses suggests a "first-mover" strategy in Armenia is being executed, and the QA/QC validation resolves a technical uncertainty that had been lingering since October 2024/2025. - The Context: This release is essentially a "placeholder" update. The market is currently ignoring Urasar developments in favor of the upcoming Vardenis assay results, which are being funded and managed in partnership with Teck Resources.

HAY · Price
Company Overview

Hayasa Metals is focused on copper and gold exploration in Armenia. - Urasar (Flagship): A 15km mineralized corridor. Early drilling in 2024 was poorly targeted due to an "IP rotation error" (technical blunder). 2025 drilling showed "metal in the box" but grades have generally been sub-economic (e.g., 4.1m @ 2.98 g/t Au). - Vardenis: A massive 35 sq km alteration footprint. This project is the high-beta asset, now under option to Teck Resources, which can earn 80% by spending $15M USD and completing a PFS.

Read the original news release →

More from Hayasa Metals Inc.

Jun 19, 2026 · 06:31

Hayasa Metals Announces Commencement of Drill Program at Urasar Project, Armenia

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Drill Results Nov 12, 2025 · 17:29

None

Drill Results Nov 12, 2025 · 06:31

Hayasa Metals Announces Second Batch of Drill Results from Phase 2 Drill Program at Urasar Project

Drill Results