SAGA Metals Reports Assays from R-0061 to R-0063 with Intercepts Including 47.36% Fe2O3, 6.73% TiO2, 0.353% V2O5 from 2026 Drilling at Radar Critical Minerals Project in Labrador
Saga’s Radar R-0061 drill hole adds significant bulk width to the project, while the maiden mineral resource estimate serves as the primary catalyst for the deposit.
Saga Metals Corp. (SAGA) has released assay results for three additional Radar drill holes as part of its maiden mineral resource estimate program at the Trapper Zone in Labrador. The reported intercepts represent company-composited core lengths, with true thickness values provided separately.
- R-0061: 163.0 m @ 43.07% Fe2O3, 6.19% TiO2, 0.293% V2O5
- Including 92.3 m @ 47.36% Fe2O3, 6.73% TiO2, 0.353% V2O5
- Total oxide logged 244.4 m downhole, true thickness 221.2 m, from 51.9 m
- R-0062: 33.0 m @ 34.37% Fe2O3, 5.24% TiO2, 0.173% V2O5
- Including 14.8 m @ 40.52% Fe2O3, 6.38% TiO2, 0.217% V2O5
- Total oxide logged 111.4 m downhole, true thickness 101.8 m, from surface
- R-0063: 98.9 m @ 28.51% Fe2O3, 4.01% TiO2, 0.157% V2O5
- Total oxide logged 137.8 m downhole, true thickness 79.0 m, from 61.7 m
The drilling program has now completed 82 holes, ranging from R-0008 to R-0090, with a total of 21,516 meters drilled. To date, 56 holes have returned assays, and 12,221 samples have been collected. Management stated that one hole remains to complete the planned mineral resource estimate program, while two additional holes, R-0091 and R-0092, were added to gather structural data. Assays for holes R-0064, R-0065, and R-0066, which total 898 samples, are expected within the next one to two weeks.
Saga Metals Corp. (SAGA) is a pre-resource junior explorer with no revenue, meaning its entire equity value depends on the future Radar Mineral Resource Estimate (MRE) and its economic viability, alongside its earlier-stage Wolverine, Double Mer, and Legacy assets.
The company’s latest release confirms that the MRE drill program is nearly complete and continues to intersect broad oxide mineralization across multiple sections. While the results are positive, they are incremental, delivering neither a new discovery, a major step-change in grade, nor a resource or economic milestone.
From a market perspective, SAGA has already re-rated from the initial Trapper North high-grade results in January 2026. The stock reached C$0.88 in late January and currently trades at C$0.49. The market has seen many similar broad intercepts over recent months, and the stock has not re-rated on each additional hole.
The more important near-term catalyst is likely the pending R-0064 assays, as R-0064 is logged with 396.6 m of oxide and 340.0 m true thickness. Today’s R-0061 is not weak, but it does not reset either the size or grade profile of the project.
Saga Metals Corp. is a North American critical minerals explorer whose primary asset is the 100%-owned Radar Ti-V-Fe Project. Located near Cartwright, Labrador, the project encompasses 24,175 hectares and encloses the Dykes River Intrusive Complex. The company also holds the Wolverine Heavy REE Project and the Double Mer Uranium Project in Labrador, as well as the Legacy Lithium Project and the Garneau Titanium Project in Quebec. Additionally, Saga sold its North Wind iron project to Orion Iron Ore in August 2026 in exchange for Orion shares and a royalty.
Prior-period financial context from the latest provided statements indicates that Q1-2026 net loss was approximately C$1.0 million, cash was C$1.96 million, and total equity was C$7.75 million as of that older period. Later financings substantially increased cash and share count; these statements predate those raises.