Hayasa Metals Inc. has completed its 1,070-meter diamond drilling program at the Urasar project in northern Armenia, advancing exploration across the property's western targets.

The campaign comprised two drill holes, UDD-022 and UDD-023, which targeted the Oxide Basin and Silica West prospects within the far western portion of the exploration permit. Yerevan-based contractor AT Group carried out the program using an Atlas Copco CS-14 machine.

Previous drilling at the site encountered operational setbacks. Most notably, drill hole UDD-021 was terminated prematurely late last year before reaching its target depth due to broken ground. The latest 2026 holes successfully tested deeper structural targets, intersecting an intense, multiphase quartz-anhydrite vein and veinlet stockwork hosted within hydrothermally altered rocks.

The vein system locally contains pyrite and chalcopyrite alongside occasional enargite. The presence of increasingly potassic-style alteration at depth, combined with the stockwork character and copper-bearing sulfide assemblage, is interpreted as pointing toward a well-developed porphyry-style hydrothermal system.

Assay results from ALS for both completed holes are anticipated in mid-October 2026.

The company continues to learn more about Urasar with every meter drilled. These last two holes are the first two holes drilled to depth, and the veining in the core is potentially indicative of something much bigger. The assays, results expected from ALS mid-October, will provide structural and geochemical data to add to our Urasar mineralization model.

— Joel Sutherland, CEO

Hayasa anticipates the renewal of its Urasar license extension over the coming months. Alongside exploration work at Urasar, the company has also applied to the TSX Venture Exchange to extend the expiry date of 11,165,282 common share purchase warrants from March 23, 2027, to March 23, 2028.

Read the full announcement: Hayasa Metals Announces Completion of 2026 Urasar Drill Program, and Warrant Extension Application