# Hayasa Metals Announces Initial Drill Results from Phase 2 Drill Program at Urasar Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17 Original source: https://money.tmx.com/en/quote/HAY/news/6901177766806820/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras Publisher: tmx Original announcement: 2025-10-14T10:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Hayasa Metals Inc. - Ticker: HAY - Exchange: TSX - Region: Armenia - Primary commodity: Copper - Secondary commodities: Gold, Molybdenum - Document categories: Drill results, Other - Extracted: 2026-09-18 03:48:59 UTC Narrative sentiment: -0.20 · Bearish ## Minestarters Atlas summary Hayasa Metals has released initial Phase 2 drill results from the Urasar Project in Armenia, highlighting copper-gold mineralization at the Golden Vein and Black River prospects. However, management has flagged a potential issue with sample preparation, noting that assay grades for copper appear significantly lower than visual estimations of chalcopyrite, and is initiating re-assays at a second laboratory. Reasoning: While the drill intercepts show mineralization, the management's admission of suspected sample preparation errors and the discrepancy between visual ore and assay grades significantly lowers the immediate confidence in the reported values. - Positive factor: Discovery of porphyry-style alteration \(potassium feldspar and actinolite\) - Positive factor: Intersection of massive sulfide mineralization - Positive factor: Presence of molybdenum tracking gold and copper - Negative factor: Discrepancy between visual chalcopyrite abundance and low assay results - Negative factor: Suspected sample preparation issues requiring re-assay - Negative factor: Copper grades reported significantly below visual expectations Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 7 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: Release mentions use of standards, blanks, and duplicates every ten samples, and plans for re-assaying at a second lab. Evidence · text > a known standard, blank or duplicate was inserted every ten samples for QA/QC purposes. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The report provides downhole intercepts for several holes without stating true widths. Evidence · text > 26.5m @ 0.37 Cu **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The project is located in the Urasar Mineral District, characterized by widespread hydrothermal alteration. Evidence · text > The 15-kilometre-long Urasar mineral district is situated along a major crustal suture ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Drill Results (7) ### UDD-013 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-0) Urasar · copper #### Identity - Hole ID: UDD-013 - Project: Urasar - Commodity: copper - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.37 - Grade Unit: % - Intercept: 26.5 m #### Classification - Sample Type: drill #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: A decent copper intercept, but subject to the broader sample preparation concerns mentioned in the release. - Positive factor: Significant width for copper intercept - Negative factor: Suspected assay under-reporting Evidence · text > 26.5m @ 0.37 Cu, including 5.5m @ 0.96% Cu and 0.116 ppm Au from hole UDD-013 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### UDD-013 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-1) Urasar · copper #### Identity - Hole ID: UDD-013 - Project: Urasar - Commodity: copper - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.96 - Grade Unit: % - Intercept: 5.5 m #### Classification - Sample Type: drill #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: Strong high-grade interval within the larger intercept. - Positive factor: High grade sub-interval - Negative factor: Suspected assay under-reporting Evidence · text > 5.5m @ 0.96% Cu #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### UDD-013 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-2) Urasar · gold #### Identity - Hole ID: UDD-013 - Project: Urasar - Commodity: gold - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.116 - Grade Unit: ppm - Intercept: 26.5 m #### Classification - Sample Type: drill #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: Trace gold associated with the copper intercept. Evidence · text > 0.116 ppm Au from hole UDD-013 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### UDD-016 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-3) Urasar · gold #### Identity - Hole ID: UDD-016 - Project: Urasar - Commodity: gold - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.424 - Grade Unit: g/t - Intercept: 24 m #### Classification - Sample Type: drill #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: Encouraging gold intercept in the Black River zone. - Positive factor: Good gold grade over significant width Evidence · text > 24m @ 0.424 g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### UDD-016 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-4) Urasar · copper #### Identity - Hole ID: UDD-016 - Project: Urasar - Commodity: copper - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.18 - Grade Unit: % - Intercept: 24 m #### Classification - Sample Type: drill #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: Copper intercept associated with gold. Evidence · text > 24m @ 0.424 g/t Au with 0.18% Cu from hole UDD-016 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### UDD-012 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-5) Urasar · copper #### Identity - Hole ID: UDD-012 - Project: Urasar - Commodity: copper - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.073 - Grade Unit: % - Intercept: 47 m - From: 110 m - To: 157 m - Intercept Depth: 110 m #### Classification - Sample Type: drill - Group ID: UDD-012:110-157 #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: A wide interval that is significantly under-reporting copper based on visual chalcopyrite. - Negative factor: Low grade relative to visual estimation Evidence · text > 47 meters from 110m to 157m in hole UDD-012, that returned 0.073% Cu #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### UDD-012 [Link to this fact](https://atlas-extractions.minestarters.com/news/hayasa-metals-announces-initial-drill-results-from-phase-2-drill-program-at-uras--779d14c7-4d94-46a8-af90-e8be5406bc17#fact-drill-facts-6) Urasar · gold #### Identity - Hole ID: UDD-012 - Project: Urasar - Commodity: gold - Region: armenia - Reported Region: armenia - Ticker: HAY #### Geometry - Grade: 0.048 - Grade Unit: ppm - Intercept: 47 m - From: 110 m - To: 157 m - Intercept Depth: 110 m #### Classification - Sample Type: drill - Group ID: UDD-012:110-157 #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-10-14T00:00:00.000Z Reasoning: Low gold grade in a wide interval. Evidence · text > 47 meters from 110m to 157m in hole UDD-012, that returned 0.073% Cu and 0.048 ppm Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.