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Overview of Hayasa Metals Inc.
Hayasa Metals (HAYAF) is a mineral exploration company with a concentrated focus on uncovering significant mineral deposits in the underexplored regions of Armenia, situated within the renowned Central Tethyan Mineral Belt. As an organization committed to geological excellence and advanced exploration methods, Hayasa Metals has carved a niche in the mining industry by employing state-of-the-art drilling programs and geochemical analyses to identify zones of anomalous mineralization. Utilizing industry-leading techniques such as induced polarization (IP) surveys and detailed geochemical sampling, the company efficiently pinpoints areas that exhibit complex geological signatures including sulfide mineralization and hydrothermal brecciation, which are indicative of the potential for sizeable gold, copper, and polymetallic discoveries.
Core Business Areas and Operations
Hayasa Metals operates predominantly through exploration and early-stage project development. The company is currently focused on two key projects: Urasar and Vardenis. These properties lie within a mineral-rich corridor, and are characterized by structural settings that have historically yielded promising mineralization. The Urasar project, in particular, showcases advanced exploration techniques that include multi-target drilling campaigns and IP surveys, which have resulted in detailed geological data. Similarly, the Vardenis project represents a critical asset developed through rigorous field assessments, where the interplay of historic regional mining activities and modern exploration methods converge.
Technical Expertise and Exploration Strategy
At the heart of Hayasa Metals’ operations is the application of robust and methodologically sound exploration strategies that are designed to remain effective over multiple drilling cycles. The company invests in the expertise of its management team, whose track record in mine-finding has contributed towards creating long-term shareholder value. Their technical approach integrates extensive geochemical sampling, core logging, and laboratory QA/QC processes which are closely managed to ensure data integrity. In addition to physical drilling, the use of high resolution IP surveys enables the identification of chargeability anomalies often associated with mineralized horizons, thereby enhancing the predictive accuracy of exploration models used by the company.
Competitive Position and Strategic Partnerships
Hayasa Metals distinguishes itself in the competitive landscape of mineral exploration through its deep geological insight and a focused exploration model. Unlike companies that venture into full-scale mining without sufficient exploration validation, Hayasa Metals maintains a strategic emphasis on early-stage asset development, thereby mitigating operational risks. Its ability to secure strategic partnerships with well-known royalty companies illustrates its proactive approach in leveraging non-dilutive financing. Such partnerships not only provide capital but also reflect industry confidence in its exploration potential. The company’s recent strategic royalty transactions underscore its commitment to maximizing technical expertise and operational efficiency while staying resilient in dynamic market conditions.
Market Significance and Industry Relevance
Within the broader context of the global mining industry, Hayasa Metals plays a crucial role by targeting underexplored regions that hold significant untapped potential. The Central Tethyan Mineral Belt is acclaimed for its rich endowment of major minerals, and Hayasa Metals’ focused exploration in this region positions it as a knowledgeable and technically adept player. The company’s rigorous exploration methods and the integration of modern geoscientific techniques help it maintain a strong reputation for identifying and advancing promising mineral discoveries. Investors and industry analysts recognize the company for its disciplined approach, which is supported by a history of thoughtful capital management and strategic usage of exploration tools.
Operational Excellence and Future Outlook
Although future performance is not the focus here, it is crucial to note that Hayasa Metals has established a consistent blueprint for exploration success. The company’s operational methodologies underscore an emphasis on geological science and technical integrity rather than speculative growth. This disciplined approach empowers it to strategically manage exploration risks and ensures a robust framework for asset development. Regular review and validation of drilling programs through comprehensive laboratory analysis and proper QA/QC measures further underline its commitment to operational excellence. As a result, stakeholders can appreciate the comprehensive, multifaceted exploration model that Hayasa Metals employs to unlock the mineral potential within one of the world’s most prolific mineral belts.
Summary
In summary, Hayasa Metals Inc. embodies a clear, methodical approach to mineral exploration that is deeply embedded in technical expertise and operational integrity. With its well-crafted exploration strategies, advanced geoscientific methodologies, and carefully selected project portfolio in Armenia, Hayasa Metals continues to demonstrate how prudent exploration practices can drive long-term value in the mining sector. The company remains focused on refining its exploration techniques and leveraging strategic partnerships to better understand and delineate its promising assets within the Central Tethyan Mineral Belt.
Hayasa Metals (OTCQB: HAYAF) has announced final drill results from its Urasar project, including holes UDD-04, 05, 07, 08, and 09. The results showed low-level gold mineralization throughout, with hole UDD-04 at Oxide Basin yielding the highest average copper content. Notably, hole UDD-08 at Brick House prospect returned 11m of 0.28% Zn, including two samples over 0.5% Zn.
The company's 2025 drill campaign is fully funded by a US$1,000,000 NSR royalty sale to Franco-Nevada and EMX Royalty Management plans to explore areas north of the 2024 drill program, focusing on higher elevations based on reinterpreted IP data, magnetic surveys, and previous drill results. The planned 2,000-meter campaign will commence in June 2025, with roadwork scheduled for completion in early June.
While the results confirm a large mineralized system with approximately 15 km strike extent, management acknowledges they fell short of expectations but maintains confidence in Urasar's potential to host economic ore bodies.
Hayasa Metals has announced initial drill results from its Urasar Copper-Gold Project. The company reported gold grades averaging 0.030 ppm Au over 214m in hole UDD-06, 0.16 ppm Au over 275m in UDD-03, 0.18 ppm over 145m in UDD-01, and 0.12 ppm Au over 394m in UDD-02.
A trial IP survey revealed that preliminary sections contained a 'rotation' error, which resulted in incorrect placement of chargeability and resistivity anomalies. The best chargeability anomalies were found to be located north and up-slope from recent drill holes. The company plans to start its 2025 drilling program in late spring, focusing on the northern area where historic Soviet-era drilling reportedly encountered significant copper and gold mineralization.
Additional assay results from holes 7 and 9 at Black River are expected in late February, followed by results from hole 8 at Brickhouse and hole 4 at Oxide Basin in early March.
Hayasa Metals (TSXV: HAY) (OTCQB: HAYAF) has announced results from a 130 line-km ground magnetometer survey at its Vardenis Copper-Gold Project in Armenia. The survey, conducted during AUG-SEP 2023 and AUG-OCT 2024, was processed by Campbell and Walker Geophysics.
The Vardenis project is located 20km from the 4.8M oz Amulsar gold mine and has shown six zones of porphyry-epithermal mineralization over a 35 km² area. Historic work includes Soviet-era exploration and Dundee Precious Metals' US$2.4M investment from 2015-2018.
Recent exploration includes a 23-line km IP survey, ground magnetic survey, and additional mapping. The magnetic survey revealed a north-south trending magnetic high corresponding to a basaltic lava flow, with target host rocks believed to lie beneath. The company plans to conduct a minimum 3,000m diamond drilling program at Vardenis and an additional 2,000m at Urasar in 2025.
Additionally, Hayasa has issued 2,097,760 shares as part of a debt settlement, with a remaining $109,000 deferred until the next financing round.
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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