SAGA Metals Reports Assays from R-0050 to R-0054 with Intercepts Including 53.07% Fe2O3, 7.68% TiO2, 0.384% V2O5 from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador
Saga’s Labrador VTM oxide deposit returned 160m of 6.3% TiO2 and 0.31% V2O5 as its maiden resource nears completion.
Saga Metals Corp. (SAGA) has reported assay results from five new diamond drill holes, designated R-0050 through R-0054, at the Trapper South zone of its Radar Ti-V-Fe Project. The company stated that the release is part of its maiden mineral resource estimate (MRE) program, aiming to confirm consistency in the deposit's characteristics.
Key intercepts from the new drilling include: - R-0050: 128.1 m @ 40.80% Fe2O3, 5.79% TiO2, 0.294% V2O5, including 53.0 m @ 49.61% Fe2O3, 7.24% TiO2, 0.401% V2O5 - R-0051: 119.1 m @ 42.68% Fe2O3, 5.89% TiO2, 0.280% V2O5, including 31.9 m @ 53.07% Fe2O3, 7.68% TiO2, 0.384% V2O5 - R-0052: 112.4 m @ 46.67% Fe2O3, 6.71% TiO2, 0.305% V2O5, including 66.0 m @ 49.63% Fe2O3, 7.24% TiO2, 0.335% V2O5 - R-0053: 159.9 m @ 45.27% Fe2O3, 6.32% TiO2, 0.306% V2O5, including 37.5 m @ 50.44% Fe2O3, 6.72% TiO2, 0.385% V2O5 and 62.0 m @ 46.73% Fe2O3, 6.79% TiO2, 0.306% V2O5 - R-0054: 57.8 m @ 44.92% Fe2O3, 6.71% TiO2, 0.275% V2O5
To date, 47 of the 67 completed holes have been assayed, with a total of 17,448 meters drilled. A prior highlight from the project includes hole R-0061, which intersected 244.4 meters (with a true thickness of 204.7 meters) of semi-massive oxide. Core recovery for the project remains above 95%, with quality assurance and quality control samples sent to the IGS laboratory.
Saga Metals Corp. released results from five infill holes that confirm the modelled grade and thickness at Trapper South. These findings do not alter the size, grade, or continuity assumptions established by the initial discovery holes, including R-0009 and R-0010, and the dozens of subsequent hits. As an explorer with a pending maiden mineral resource estimate (MRE), the company will use these results to feed into that estimate.
The market has seen a steady stream of almost identical high-grade, thick intercepts for months, a trend reflected in the share price decline from C$0.88 to C$0.46 since early 2026. While the news is incrementally positive for the resource base, it is fully expected and does not re-rate the company.
Following the $10.2M financing in May 2026, the company’s treasury can comfortably fund the completion of the MRE. No material new target or deposit expansion was announced.
Saga Metals Corp. is a Canadian junior explorer that owns the 100%-held Radar Ti-V-Fe Project in Labrador, covering 24,175 hectares. The project features a roughly 20 km oxide trend containing high-grade titanomagnetite. A 15,000 m drill program is currently underway to support a maiden resource estimate.
The company also holds several early-stage assets, including the Double Mer Uranium Project in Labrador, the Legacy Lithium Project in James Bay, Quebec, the Wolverine REE Project in Labrador, and the Garneau Titanium Project in Quebec. As of the first quarter of 2026, Saga Metals had working capital of approximately C$2.1M, which was subsequently boosted by a C$10.2M financing in May 2026.