Hayasa Metals completes challenging drilling campaign in Armenia
- Hayasa Metals completed 2,142 meters of drilling at the Urasar property in Armenia during October and November.
- The company successfully identified and tested five target areas despite early winter weather impacting operations.
- The completion of this campaign exceeds initial and expanded drilling plans, showcasing Hayasa's operational strengths.
In October and November 2024, Hayasa Metals Inc. conducted a maiden drilling campaign at its Urasar property in Armenia, successfully completing a total of 2,142 meters across nine holes. This drilling focused on five target areas along a 15km mineralized corridor, with locations named Copper Creek, Oxide Basin, Golden Vein, Black River, and Brick House. The company encountered adverse weather conditions earlier than previously expected, resulting in an early completion of one drilling hole and a postponement of another planned hole until 2025. Despite these challenges, Hayasa surpassed its initial target by over 30%, drilling substantially more than the planned meterage of 1,600m and the expanded goal of 2,000m, demonstrating significant operational capability. The first three drilled holes have been processed, with the core being logged, split, and prepared for laboratory analysis. Samples with a minimum weight of 50kg are set to be sent to the ALS lab in Romania for testing within two weeks. CEO Joel Sutherland highlighted the effectiveness of their team led by Hovo Karapetyan, who managed to keep operations on track despite difficult field conditions. This successful completion of the drilling program presents promising potential for the company as it seeks to tap into the underexplored mineral resources of the Central Tethyan Mineral Belt in Armenia. Doing so could lead to significant tier-one mineral discoveries, enhancing shareholder value and positioning Hayasa Metals as a rising player in the mining sector. The Urasar property is part of a larger 34 km2 exploration license area that holds potential for further exploration and development. The company's operations underscore the importance of rigorous exploration strategies in regions with untapped mineral potential, and the commitment by Hayasa's management to advancing these projects illustrates their proactive approach to resource discovery and extraction. As the mining sector continues to face challenges, the ability of companies like Hayasa to adapt to environmental constraints will be crucial to their ongoing success and operational efficiency.