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Hayasa Metals (TSXV: HAY, OTCQB: HAYAF) has completed the sale of a 1.25% Net Smelter Return (NSR) royalty for its Urasar gold-copper project in Armenia to Franco-Nevada and EMX Royalty for US$1,000,000. Franco-Nevada contributed US$550,000 for a 0.625% NSR, while EMX contributed US$450,000 for the remaining 0.625% NSR.
Each company received 250,000 share purchase warrants, exercisable within 18 months at CAD 0.22 per share. Both companies gained right of first refusal for future royalty opportunities at Urasar. The proceeds will fund Urasar's 2025 drilling program, following the 2024 program of 2,100 meters across 9 holes. Assay results from these holes are expected to be released throughout February and March, with initial results from Copper Creek and Golden Vein sites due in early February.
The company also approved its Omnibus Equity Incentive Plan, granting 4,800,000 performance share units to directors, officers, and employees.
Hayasa Metals (TSXV: HAY) (OTCQB: HAYAF) has announced results from a 23 line-km high resolution induced polarisation (HRIP) survey at their Vardenis Copper-Gold Project, conducted in August-September 2024 by Terratec Geophysical Services. The survey revealed significant chargeability and resistivity anomalies beneath the northern part of a 3.5km x 2.4km copper soil anomaly.
The IP survey was designed to help define drill targets for the upcoming Vardenis Phase 2 drilling campaign planned for June 2025. The campaign will involve a minimum of 3,000m of drilling, potentially extending to 8,000m. The survey produced detailed sections showing chargeability (measured in millivolts per volt) and resistivity (measured in Ohm/m) characteristics below each survey line.
Company President and Chairman Dennis Moore expressed satisfaction with the survey results, noting the presence of large chargeability and resistivity anomalies in the targeted areas beneath the copper soil anomaly.
Hayasa Metals (HAYAF) has announced the sale of a 1.25% Net Smelter Return (NSR) royalty for its Urasar gold-copper project in northern Armenia to Franco-Nevada and EMX Royalty for US$1 million in cash. Franco-Nevada will contribute US$550,000 and EMX US$450,000.
Each company will receive a 0.625% NSR royalty interest and 250,000 share purchase warrants, exercisable within 18 months at CAD 0.22. The companies will also have a right of first refusal for future royalty or stream interests.
The Urasar project, acquired by Hayasa in 2023, is located along a crustal-scale structure in the Tethyan Metallogenic Belt. The area has historical copper production dating back to World War I and Soviet-era exploration. The project shares geological similarities with Armenia's largest gold mine, the Sotk deposit.
Hayasa Metals has completed its maiden drilling campaign at the Urasar Mineral District project in northern Armenia, drilling 2,142 meters across nine holes. The campaign tested five target areas within a 15km mineralized corridor: Copper Creek, Oxide Basin, Golden Vein, Black River, and Brick House prospects. Early snowfall (50cm) forced early completion of hole UDD-06 and postponement of UDD-10 until 2025. Despite weather challenges, the program exceeded both initial (1,600m) and expanded (2,000m) targets. Core samples will be sent to ALS lab in Romania, with results expected in Q1 2025.
Hayasa Metals Inc. (TSXV: HAY, OTCQB: HAYAF) announced that Chairman and President Dennis Moore and CEO Joel Sutherland will attend the NOIC investor conference in New Orleans from November 20-23, 2024. The company has made their latest investor presentation available on their website.
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