SAGA Metals Drills 470 m at 36.72% Fe2O3, 5.40% TiO2, 0.245% V2O5 Including 69.2 m at 51.03% Fe2O3, 8.55% TiO2, 0.334% V2O5 at Radar Critical Minerals Project in Labrador
Saga completed 470 metres of Radar VTM infill drilling while the share price hovered near lows ahead of the maiden resource release.
Saga Metals Corp. (SAGA) released assay results for three infill and resource-definition holes at the Trapper Zone of its Radar Titanium-Vanadium-Iron Project in Labrador.
Hole R-0072 returned a headline intercept of 470.0 m grading 36.72% Fe2O3, 5.40% TiO2 and 0.245% V2O5. Included sub-intervals for R-0072 include 183.2 m at 46.44% Fe2O3, 7.52% TiO2, 0.307% V2O5 and 69.2 m at 51.03% Fe2O3, 8.55% TiO2, 0.334% V2O5. The oxide zone in R-0072 is reported as 342.1 m downhole, with a true thickness of 241.9 m.
Hole R-0073 returned 116.3 m at 36.73% Fe2O3, 5.74% TiO2, 0.225% V2O5; true thickness 97.9 m.
Hole R-0074 returned 116.7 m at 42.21% Fe2O3, 6.53% TiO2, 0.281% V2O5; true thickness 100.2 m.
The maiden MRE drill program is complete at 22,432 m across 85 holes; assays are now reported for 67 holes, with 18 holes pending.
Saga Metals Corp. (SAGA) released drill results from infill and resource definition work at the Trapper North zone, confirming continuity and depth extension within an already established mineralized body. The company’s shares trade near C$0.35, down from a high of C$0.88, indicating that the price appreciation driven by earlier discovery holes has reversed.
The latest intercepts do not identify a new zone, materially expand the overall strike, or demonstrate economic recoverable grade. While the results are in-line with resource-style grades, they do not clearly exceed the performance of the best previous holes. Given that the market has already reviewed dozens of broad intercepts from this system, the novelty of the long lower-grade interval is limited.
Saga Metals Corp. is a TSXV-listed junior explorer focused on critical minerals. The company’s portfolio includes the Radar Ti-V-Fe Project in Labrador, which covers 24,175 hectares and encloses the Dykes River intrusive complex. This area features a 29 km2 oxide lopolith, with 22,432 meters of Mineral Resource Estimate (MRE) drilling completed across 85 holes.
In Labrador, the Wolverine HREE Project spans 294.5 km2 and hosts a near-surface rare earth element system within a peralkaline caldera, with drilling scheduled to begin in 2026. Also in Labrador, the Double Mer Uranium Project covers 25,600 hectares along an 18 km radiometric trend, where surface samples have returned grades up to 0.428% U3O8. The company also holds the Legacy Lithium Project in Quebec’s James Bay region, comprising 72,701 hectares.
Previously, the company sold its North Wind iron ore project to Orion Iron Ore in exchange for 4 million Orion shares, a board seat, and a 2% gross overriding royalty. Financial context from the prior period shows that Q1-2026 reported cash of C$1.96 million and a net loss of C$1.0 million for the quarter, with exploration spending funded through repeated capital raises. The share count has risen materially since the Q1-2026 report due to multiple placements and acquisitions, meaning the share count is not current in the provided financials.