Announcement • Apr 24
SAGA Metals Corp. Reports Assay Results from Drilling at Radar Critical Minerals Project
SAGA Metals Corp. reported additional assay results from drill holes R-0024, -0025 and -0026 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. Analytical results received for three additional diamond drill holes (R-0024 to R-0026) from the Mineral Resource Estimate drill program reinitiated in 2026, delivering consistent broad intercepts of oxide mineralization. Key intercepts include: Hole R-0024: 91 m @ 49.08% Fe2O3, 6.23% TiO2, 0.390% V2O5 including 44 m @ 54.20% Fe2O3, 7.07% TiO2, 0.443% V2O5; Hole R-0025: 81.7 m @ 41.36% Fe2O3, 5.18% TiO2, 0.309% V2O5 including 33 m @ 47.38% Fe2O3, 6.01% TiO2, 0.384% V2O5; Hole R-0026: 47.3 m @ 38.16% Fe2O3, 4.65% TiO2, 0.288% V2O5 including 20.5 m @ 52.39% Fe2O3, 6.55% TiO2, 0.449% V2O5. These results now bring the total Mineral Resource Estimate drill results from 2026 to eleven diamond drill holes received in 2026. Analytical results for the first eight diamond drill holes of the 2026 drill program included: Hole R-0016: 50.60 m @ 52.05% Fe2O3, 7.21% TiO2, 0.375% V2O5; Hole R-0017: 90.01 m @ 51.86% Fe2O3, 6.76% TiO2, 0.417% V2O5; Hole R-0018: 70.3 m @ 42.64% Fe2O3, 5.66% TiO2, 0.288% V2O5; Hole R-0019: 45.7 m @ 49.51% Fe2O3, 6.56% TiO2, 0.374% V2O5; Hole R-0020: 40.7 m @ 37.62% Fe2O3, 4.93% TiO2, 0.239% V2O5; Hole R-0021: 31.38 m @ 53.18% Fe2O3, 7.08% TiO2, 0.414% V2O5; Hole R-0022: 30.60 m @ 49.40% Fe2O3, 6.61% TiO2, 0.373% V2O5; Hole R-0023: 86 m @ 45.50% Fe2O3, 5.50% TiO2, 0.367% V2O5. Completed thirty-seven holes (R-0016 to R-0052) to date in 2026, with significant oxide intercepts including true thickness of 156.89 m (R-0034) of semi-massive oxide with extensive rhythmic layering. These results bring the total number of reported 2026 Mineral Resource Estimate holes to eleven, with multiple holes returning thick oxide intercepts exceeding 70–90 metres and head grades frequently above 45–54% Fe2O3, 6–7% TiO2 and 0.37-0.44% V2O5. Rhythmic banding and semi-massive to massive oxide mineralization observed consistently, aligning with prior high-grade results from Trapper North. Drilling is progressing efficiently, with 10,237 m completed in the Trapper Zone to date. Hole R-0053 is in progress. Excellent core recovery and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate. The results from three additional drill holes (R-0024, R-0025, and R-0026) continue to demonstrate broad and consistent oxide mineralization, reinforcing the potential for a robust resource base. Detailed Logging Highlights from Drill Hole R-0024 to R-0026: Hole R-0024 (Cross-Section S07): In hole R-0024, the oxide zone begins at 108.87 m and extends to 219.76 m, for a total thickness of 108.87 m (true thickness 68.52 m). The interval consists of intercalated rhythmic oxide layering (62.11 m) and semi-massive oxide (46.76 m). The zone is bounded by multiple magmatic contacts and offset by several faults, including a notable fault at 170.23 m and another at 174 m marked by a felsic dyke. The lower contact of the oxide zone is a magmatic contact with a felsic dyke at 219.76 m. Hole R-0025 (Cross-Section S07): Hole R-0025 undercut R-0024 at a 60° inclination, intersected a 125 m thick oxide zone (true thickness 89.60 m) from 122.96 m to 253.6 m. The interval is dominated by rhythmic oxide layering totalling 118.08 m, with 6.92 m of semi-massive oxide. The oxide zone comprises multiple stacked sections of rhythmic layering and semi-massive oxide separated by both magmatic and fault contacts. The lower contact at 253.6 m is with gabbronorite containing weak magnetite in foliation and shear planes. Hole R-0026 (Cross-Section S08): In hole R-0026, which undercut R-0023, the oxide zone intersects from 108.75 m to 273.63 m, giving a total thickness of 154.77 m (true thickness 87.38 m). The zone consists primarily of rhythmic oxide layering totalling 138.55 m, with 16.24 m of semi-massive oxide. The sequence shows repeated transitions between rhythmic layering, semi-massive oxide, and intervals of inconsistent or disseminated magnetite, including several abrupt internal contacts and a 2 m pegmatite intrusion. The oxide zone ends at a sharp contact with gabbronorite before being cut by a felsic dyke at 277.42 m. Drilling is progressing efficiently, with 8,187 m already completed in 2026 up to drill hole R-0052, and 10,237 m total meters completed for the Mineral Resource Estimate drill program. The drill rig has been moved to drill pad R-0053. IGS Laboratories finalized analysis of 410 samples from R-0027, -0028, and -0029 and released assays late last week. The Company is reviewing and interpreting the data to release the next set of assays shortly. In addition, 710 samples from R-0030, -0031, -0032, -0033, -0034, and -0035 were shipped to IGS and have been received; analysis is beginning. A total of 4,910m samples have been collected to date in the Trapper Zone. Confirmed mineralization in 52 out of 52 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% Fe, 13.3% TiO2, and 0.66% V2O5. Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing. A total of 10,237 m has been completed and reported to date for the Mineral Resource Estimate drill program. The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (about 160 km²). Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion. Vanadiferous titanomagnetite mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.
