Vancouver, British Columbia, November 19, 2024 – Hayasa Metals Inc. (TSX-V: HAY; OTCQB: HAYAF) ("Hayasa" or the “Company”) is pleased to provide an update on its maiden 1,600m drill campaign at Urasar, Armenia which has been enlarged to a minimum 2,000m program and is expected to be completed within the next three weeks.
Dennis Moore, Chairman and President and Joel Sutherland CEO, will be attending NOIC, an investor conference in New Orleans (Nov. 20-23) and Capital Events Management (Nov. 24-25) in Florida.
More information about these conferences can be found here:
https://neworleansconference.com/
https://cem.ca/services/events/
Our latest investor presentation can be found here:
https://hayasametals.com/site/assets/files/5262/20241108_hayasa_metals_investor_deck.pdf
Drilling Update
Hayasa Metals is making significant progress on its drill campaign at the Urasar project in northern Armenia, having completed approximately 1400 meters across seven drill holes, including two currently in progress. With winter approaching, the Company mobilized a second Atlas Copco drilling machine to expedite the drill program. This second rig is drilling UDD-007 (see map below) at the Black River prospect in the eastern section of the license. This is an important target area which hosts numerous silicified, mineralized outcrops and advanced argillic alteration along the northern side of the Black River valley. The other rig is drilling UDD-006 at the Golden Vein prospect in the western part of the license area. Three more holes will conclude this season's drill campaign and are expected to be completed within three weeks.
Approximately 200 samples from the first two drill holes have been sent for sample prep and laboratory analysis, with results anticipated in early 2025.
Dennis Moore, President and Qualified Person of Hayasa Metals commented, “All but one of the holes has returned strongly to intensely altered, invariably brecciated and mineralized volcanic host rock containing significant amounts of sulfide mineralization. We are quite encouraged by what we are observing so far, and look forward to receiving the results early in the new year.”
Figure 1: Select Photos of Drill Core
Figure 2: Magnetic IP Map of Urasar with Drill Targets
CEO comments
CEO Joel Sutherland states "We continue to be encouraged by visual mineralization in the core and are optimistic that the company will deliver assay results to the market in early Q1 2025. Thanks to our local team in Armenia led by Hovo Karapetyan for keeping the drills turning on time and on budget."
About Hayasa Metals
The Company’s mine-finding management team has a track record of creating shareholder value. Current exploration efforts are centered on two key properties: Urasar and Vardenis, both of which have shown encouraging results and significant potential for tier one mineral discoveries in the Central Tethyan Mineral Belt in Armenia. The Tethyan Belt is one of the world’s most prolific gold, copper and polymetallic mineral belts, yet the Armenian portion of the belt is vastly underexplored.
Qualified person
The content of this news release was reviewed by Dennis Moore, Hayasa’s President, and Chairman, a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
Joel Sutherland
CEO
Hayasa Metals Inc.
For further information, contact:
info@hayasametals.com
www.hayasametals.com
https://twitter.com/Hayasametals
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements including, without limitation, statements regarding future exploration programs at Urasar. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by Canadian securities law.
