Armenia’s Hidden Treasure: Hayasa and Teck Probe Copper-Gold at Vardenis

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A High-Stakes Drilling Push

Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF), a Canadian-based exploration company, has officially launched its Phase 2 drilling program at the Vardenis copper-gold project in central Armenia. The project, currently under option to global mining major Teck Resources Limited, is quickly emerging as one of the most closely watched exploration opportunities across the Tethyan Metallogenic Belt.

The 2025 program is designed to cover a minimum of 3,500 meters of diamond drilling over the next eight weeks. Given the scale of the targets and the intensity of the geophysical and geochemical signatures already outlined, Vardenis could evolve into a cornerstone discovery within the region’s copper-gold exploration scene.

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Three Targets, One Big System0

The drilling effort is being managed on the ground by Yerevan-based AT Group, which has mobilized two Atlas Copco CS14 diamond drill rigs, each capable of reaching depths of 1,200 meters. This technical capacity allows Hayasa and Teck to properly test the deeper porphyry mineralization expected beneath near-surface alteration zones.

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The current campaign is centered around three key targets, each offering strong evidence of a consolidated, multi-zonal mineralized porphyry system:

Soviet Target: A strong molybdenum-in-soil anomaly sits above a preserved lithocap system. At least five holes are slated for this area, where earlier surveys highlighted concentric geochemical halos often associated with porphyry centers.
Razmik Target: Two step-out holes will test well-defined IP chargeability and conductivity anomalies, coinciding with the highest molybdenum values observed in surface rock geochemistry. Previous reconnaissance drilling confirmed sulfide-rich veins here, making Razmik one of the most prospective zones.
Artsiv Target: Characterized by zones of high-sulfidation alteration and vuggy silica, Artsiv represents a classic epithermal environment linked to larger porphyry systems at depth. One deep hole will probe beneath shallow drilling conducted years earlier by Dundee Precious Metals, targeting untested deeper anomalies.

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Building Momentum

The 2025 program builds upon years of systematic data collection and exploration groundwork. Key milestones leading up to this drilling phase include:

Completion of high-resolution IP and MT geophysical surveys, which mapped out conductivity and resistivity contrasts across Vardenis with exceptional detail.
Extensive geological and structural mapping, confirming the region’s large alteration footprint and the presence of porphyry-related intrusives.
Hayasa’s own Phase 1 drilling in 2023, which delivered sulfide-rich and alteration-dense intervals at Razmik, providing a clear signpost toward a larger mineralized system.
Historical exploration by Dundee Precious Metals, which defined several mineralized zones across the license through surface geochemistry and shallow drilling, helping establish Vardenis as a future-ready asset.

Taken together, the datasets present a compelling case that Vardenis hosts a large, underexplored porphyry copper-molybdenum system capable of delivering a discovery of global significance.

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Voices from the Top

Hayasa leadership emphasizes both the exploration potential and the strategic significance of this program:

Dennis Moore, President and Chairman of Hayasa Metals:
“We’re embarking on a major effort in terrain that remains largely unexplored. With the combination of geophysical anomalies, geochemical indicators, and promising results from our first drill holes, the opportunity for a significant porphyry copper-molybdenum discovery is very real. This is frontier exploration at its best—the kind that creates transformational value.”
Joel Sutherland, CEO of Hayasa Metals:
“Partnering with Teck on Vardenis is not just good for Hayasa but also for Armenia’s mining sector. With geopolitical uncertainty easing after the recent peace deal between Armenia and Azerbaijan, the environment has become far more attractive for global operators. With Teck’s technical expertise, we believe Vardenis has genuine tier-one potential, and this next phase of drilling represents a key step in unlocking that value.”

Why Vardenis Matters

The Vardenis project license covers 9,399 hectares within Armenia’s highly prospective Central Tethyan Belt, a metallogenic province known for hosting world-class porphyry copper and gold deposits stretching from Eastern Europe through Central Asia.

Importantly, Vardenis lies just 25 kilometers from Lydian International’s Amulsar gold deposit, which underlines the fertility of the belt. Within the property boundary, multiple mineralized centers are embedded within a vast 35 km² alteration system, comparable in scale to some of the largest porphyry copper systems globally.

The project’s combination of copper, gold, and molybdenum potential speaks directly to global demand for both traditional and energy-transition metals. With copper expected to face a structural supply deficit over the next decade due to electrification and renewable infrastructure buildout, projects like Vardenis are poised to attract heightened investor and industry attention.

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The Road Ahead

With drilling now underway, all eyes are on core results expected later in the season. Should the assays confirm thick, mineralized intervals consistent with porphyry systems, Vardenis could rapidly advance from an early-stage exploration project to a high-priority development asset in Teck’s global pipeline.

For Hayasa Metals, success at Vardenis would be transformative, positioning the company as one of the few junior partners advancing exploration alongside a top-tier global mining house in an increasingly competitive hunt for copper projects.

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