Announcement • Jul 23
Saga Metals Reports Assays From Drill Holes R-0050 To R-0054 At Trapper South, Radar Critical Minerals Project In Labrador
Saga Metals Corp. reported additional assay results from drill holes R-0050, -0051, -0052, -0053 and -0054 completed in 2026 as part of its ongoing maiden Mineral Resource Estimate diamond drill program at the Trapper Zone within the 100%-owned Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador, Canada. The Trapper Zone forms part of an oxide corridor that includes the Falcon and Hawkeye Zones collectively covering 29 square kilometres. Analytical results received for five additional diamond drill holes (R-0050 to R-0054) from the Mineral Resource Estimate drill program initiated in Fourth Quarter 2025, delivering consistent broad intercepts of oxide mineralization. Key intercepts include: Hole 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; Hole 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; Hole 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; Hole 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 including 62.0 m @ 46.73% Fe2O3, 6.79% TiO2, 0.306% V2O5; Hole R-0054: 57.8 m @ 44.92% Fe2O3, 6.71% TiO2, 0.275% V2O5. These results now bring the total Mineral Resource Estimate drill results to forty-seven diamond drill holes received to date. Analytical results from the first forty-two diamond drill holes of the Mineral Resource Estimate drill program include multiple holes of thick oxide core intercepts exceeding 70–144 metres and certain assay intervals frequently above 45–58% Fe2O3, 6–8% TiO2 and 0.37-0.44% V2O5. Rhythmic banding and semi-massive to massive oxide mineralization are observed consistently in Trapper South, comparable to the high-grade results from Trapper North. Drilling is progressing efficiently, with 17,448 m completed in the Trapper Zone to date. Excellent core recovery remains above 95% and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate. The latest results from these drill holes, R-0050, R-0051, R-0052, R-0053 and R-0054, once again demonstrate excellent continuity across broad zones of oxide mineralization, underscoring the growing potential for a sizable mineral resource. Hole R-0050 (Cross-Section S10): R-0050 is drilled on pad BI-1 with an azimuth of 218° dipping -45° with a total depth of 269 m. The hole intercepts the oxide zone at 63.9 m. The oxide zone is 146.1 m and consists of 51.9 m of semi-massive oxide and 94.2 m of rhythmic layering. Hole R-0051 (Cross-Section S11): R-0051 is drilled on pad AO-1 with an azimuth of 38° dipping -60° with a total depth of 311 m. The hole intercepts the oxide zone at 99.9 m. The oxide zone is 127.4 m and consists of 38.5 m of semi-massive oxide and 88.8 m of rhythmic layering. Hole R-0052 (Cross-Section S12): R-0052 is drilled on pad AG-1 with an azimuth of 38° dipping -45° with a total depth of 275 m. The hole intercepts the oxide zone at 68.6 m. The oxide zone is 160.6 m and consists of 19.8 m of semi-massive oxide and 140.8 m of rhythmic layering. Hole R-0053 (Cross-Section S12): R-0053 is drilled on pad AG-1 with an azimuth of 38° dipping -60° with a total depth of 299 m. The hole intercepts the oxide zone at 77.1 m. The oxide zone is 202.3 m and consists of 35.0 m of semi-massive oxide and 167.3 m of rhythmic layering. Hole R-0054 (Cross-Section S13): R-0054 is the first hole drilled on pad AL-1 with an azimuth of 38° dipping -45° with a total depth of 269 m. The oxide zone is 120.5 m and consists of 35.2 m of semi-massive oxide and 85.3 m of rhythmic layering. Completed sixty-seven holes (R-0008 to R-0074) from Fourth Quarter 2025 to date in 2026, with significant oxide intercepts including 244.4 m from R-0061 (true thickness of 204.7) of semi-massive oxide with extensive rhythmic oxide layering. MRE drilling to date has returned multiple holes of thick oxide core intercepts exceeding 70–144 metres and certain assay intervals frequently above 45–58% Fe2O3, 6–8% TiO2 and 0.37-0.44% V2O5. Drilling is progressing efficiently, with 17,448 m completed in the Trapper Zone to date. Excellent core recovery remains above 95% and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate. A total of 9,674 samples have been collected in the Trapper Zone to date. Confirmed mineralization in 74 out of 74 drill holes completed and observed in two primary zones to date. Analytical results to date include numerous oxide-rich intercepts. Consistent grades and thicknesses with semi-massive to massive oxide reporting up to 72.33% Fe2O3, 13.3% TiO2, and 0.66% V2O5. Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing. A total of 17,448 m has been completed and reported to date for the Mineral Resource Estimate drill program.
