Hayasa Metals (HAY.V) completed the scheduled 1,000-meter diamond drilling program at the Urasar project in northern Armenia, it said in a statement on Friday.
The program comprised of two drill holes, UDD-022 and UDD-023, targeting the Oxide Basin and Silica West prospects respectively, in the far western portion of the Urasar exploration permit, it said.
"Visually the core from these two holes is slightly different from previous holes with long sections of intense silicification, as well as the ubiquitous brecciation abundant pyrite mineralization and subordinate chalcopyrite mineralization seen in all previous drill holes," said Hayasa President Dennis Moore. "We are expecting results similar or better to the results from the end of last year."
The company also plans to file an application to the TSX Venture Exchange to extend the expiry dates of an aggregate of 11.2-million outstanding one-half of one warrant from March 23, 2027, to March 23, 2028.
Shares of the company were last seen down 12% at CA$0.07 on the TSX Venture Exchange.
Price: $0.07, Change: $-0.01, Percent Change: -12.50%