SAGA Metals Reports Assays from R-0064 to R-0071 with Intercepts Including 52.52% Fe2O3, 7.58% TiO2, 0.428% V2O5 from 2026 Drilling at Radar Critical Minerals Project in Labrador
Saga’s Trapper MRE drilling concluded with broad titanium, vanadium and iron oxide intersections, confirming the resource definition rather than triggering a re-rate.
Saga Metals Corp. (SAGA) has released assay results for eight diamond drill holes, R-0064 through R-0071, all located in the Trapper Zone at the company’s Radar Ti-V-Fe project in Labrador. The headline intervals include 187.0 m @ 41.61% Fe2O3, 6.07% TiO2, 0.280% V2O5 in R-0064; 128.0 m @ 46.11% Fe2O3, 6.79% TiO2, 0.326% V2O5 in R-0065; and a high-grade 23.3 m @ 52.52% Fe2O3, 7.58% TiO2, 0.428% V2O5 inside R-0066.
Conversely, R-0069 and R-0070 reported significantly lower grades, with 194.8 m @ 18.50% Fe2O3, 3.58% TiO2, 0.071% V2O5 and 47.2 m @ 20.49% Fe2O3, 2.18% TiO2, 0.120% V2O5, respectively.
The company stated that its maiden mineral resource estimate (MRE) drilling program is now complete, comprising 85 holes totaling 22,432 m, with assays received for 64 of those holes. Remaining assays from R-0072 to R-0079 are expected shortly, and the final shipment from R-0080 to R-0092 is anticipated within two to three weeks. GeoGlobal LLC has been engaged to prepare the independent NI 43-101 mineral resource estimate.
Saga Metals Corp. (SAGA) released results from an infill and resource-definition program at its Trapper project, rather than a discovery or major step-out. The market has been aware since early 2026 that Trapper contains broad, continuous Ti-V-Fe oxide, as multiple similar releases have already been published.
The stock is trading at C$0.45, well below its C$0.88 52-week high, suggesting that early Trapper discovery news is only partially priced in or has been diluted by financing. This release confirms extensive continuity, defines a high-grade core and lower-grade shoulders, and marks progress toward the maiden resource. However, it does not add enough new scale or grade to significantly alter the stock's valuation.
A 15%+ move on this release alone is not expected, with a modest positive or neutral trading reaction more likely. The primary event remains the maiden NI 43-101 mineral resource estimate expected later in 2026, rather than this batch of assays.
Saga Metals Corp. (SAGA) is a junior critical-minerals exploration company with no revenue. Its core assets include the Radar Ti-V-Fe Project in Labrador, where advanced drilling is underway and a maiden mineral resource estimate is in progress. The company also holds the Wolverine Heavy REE Project in Labrador, which was acquired in 2026 and is currently undergoing initial diamond drilling. In Labrador, the Double Mer Uranium Project is drill-ready, supported by high-grade surface samples up to 0.428% U3O8. Additionally, the company maintains the Legacy Lithium Project in Quebec, a large land package with regional lithium exposure. The company previously sold its North Wind iron ore project to Orion Iron Ore in 2026 in exchange for equity, a royalty, and a board seat.
The company is not issuing an earnings release. Prior-period financial context indicates that Saga Metals had negative operating cash flow and relied on repeated equity raises. For the quarter ended 2025-10-31, cash stood at C$1.96 million. Subsequent 2026 financings and warrant exercises raised additional funds, though the current cash balance is not provided. Share count and dilution remain material factors; shares outstanding rose from approximately 32.4 million in Q3 FY2025 to 56.3 million in Q1 FY2026, with further equity and acquisition-related issuance occurring in 2026.