VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- SAGA Metals Corp.("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discovery, is pleased to announce drill results from its 2025 maiden drill program at the Radar Ti-V-Fe Project, located near the port of Cartwright in Labrador, Canada.
The central zone of the Dykes River layered mafic intrusive complex exhibits a strong, accurate magnetic-high anomaly in regional magnetic surveys. The Company further defined its drill targets in 2024, after a detailed, ground-based geophysical program and surface sampling.
The initial 7-hole drill program (2,200 meters) has confidently tested the targets down to a depth of 200 meters, covering a 500-meter by 350-meter target panel.
Highlights:
Analytical results have been obtained for the first two diamond drill holes of the winter program.
Petrographic analysis and the new assays now confirm the main economic mineral is a vanadiferous titanomagnetite prospective for simplified metallurgical processing.
Exceptional intercepts of vanadiferous titanomagnetite included 31.5m @ 25.95% Fe + 5.34% TiO2 + 0.28% V2O5 in HEZ-01 and 50m @ 24.49% Fe + 4.74% TiO2 + 0.305 % V2O5 in HEZ-04. (See composites Table 1 below)
Massive magnetite high-grade samples including HEZ-01 with 0.3m @ 39.5% Fe + 9.4% TiO2 + 0.339% V2O5 and HEZ-01 with 0.5m @ 43.0% Fe + 9% TiO2 + 0.512% V2O5. (See Table 2 below)
Titanomagnetite-rich intercepts average 20-40% titanomagnetite, with certain massive layers exceeding 60%.
Drilling to vertical depths of 200 meters confirms magnetic anomalies identified by geophysics.
Initial drilling covers just 1/40th of the identified 20 km strike extent of oxide layering zone in the Dykes River intrusion. (See Map Figure 2)
500m strike by 350m width magnetic anomaly drilled in winter 2025 program. (2024 SAGA Metals. TMI Magnetic Survey).
Figure 1: 500m strike by 350m width magnetic anomaly drilled in winter 2025 program. (2024 SAGA Metals. TMI Magnetic Survey).
SAGA Metals Confirms Geological Success with the Drill:
Key drill intercepts from HEZ-01 & HEZ-04 (2 holes of the 7-hole program) include:
The SAGA team looked in detail at the assays of HEZ-01 & HEZ 04 and the geochemistry shows consistent relationship to Fe-Ti-V. Findings include over 200 meters of core in HEZ-04 and 130m in HEZ-01 which calculate over 25% titanomagnetite content of the sample and a promising group of samples such as a few seen in Table 2 which range as much as 60% titanomagnetite content.
Sample Number
DDH
FROM
TO
Length
Fe
TiO2
V205
ID
m
m
m
%
%
%
1474069
HEZ-01
63.29
63.59
0.3
39.5
9.4
0.339
1474276
HEZ-01
198
198.5
0.5
43
9
0.512
1474242
HEZ-01
181
181.5
0.5
39.2
8.2
0.438
1471661
HEZ-04
241
241.5
0.5
41.6
7.9
0.522
1471663
HEZ-04
242
242.5
0.5
38.3
7.8
0.5
Table 2: High-grade samples in correlation to higher Titanomagnetite content in samples.
Drilling also confirmed massive to semi-massive oxide layering, hosting titanium and vanadium mineralization, with significant widths up to 210 meters within the drill core. The geological context identified by Dr. Al Miller’s petrographic studies has substantially advanced understanding of the Radar projects mineralization. These findings indicate a titanomagnetite mineralization system which is advantageous for simplified metallurgical processing and potentially improved economic outcomes.
The 2025 drill campaign represents 1/40th of the approximately 20km long oxide layering zone identified at the Radar project. Following these encouraging results, SAGA Metals plans to systematically expand exploration using proven and accurate methodologies—magnetic surveys followed by targeted drilling.
"We are very encouraged by these initial drilling results,"commented Michael Garagan, CGO & Director of SAGA Metals. "They validate our geological models and significantly expand our expectations for the entire Radar property. The Hawkeye Zone is just one of five primary targets currently identified; excitingly, this zone remains one of the smallest prospects. Our strategy moving forward will involve methodically advancing exploration and drilling at our highest-priority targets. The door is now open to roll out a standardized order of operations. We know these layers are anomalous based upon surface geochemistry. Exploration moving forward is ‘magnetic survey - drill – repeat’ as we begin to survey the entirety of the oxide layering zone and prepare to identify the most prospective targets for the next drill program.”
The prospective inferred ~20km aerial oxide layering zone on the Radar property. Compilation analytical geophysics as acquired from historical sources, which SAGA has proven confidence in after the 2024 field programs.
Figure 2: The prospective inferred ~20km aerial oxide layering zone on the Radar property. Compilation analytical geophysics as acquired from historical sources, which SAGA has proven confidence in after the 2024 field programs.
Radar Ti-V-Fe Property Overview:
The Company’s 100%-owned Radar Property is located 10 km from the coastal city of Cartwright, Labrador, benefiting from tremendous infrastructure including, road access, deep-water port, airstrip and nearby hydro-electric power. The Radar Property comprises 21,750-hectares and entirely encloses the Dykes River intrusive complex.
The Dykes River intrusive complex is a recently recognized Mesoproterozoic layered mafic intrusion (Gower, 2017). It has gained attention due geological similarities to large AMCG-type intrusions and a very extensive titanium–vanadium–iron (Ti-V-Fe) rich layer.
Regional airborne magnetic surveys first highlighted the mafic oxide layer and indicated an arcuate 20 km long exploration target.
Map of the Radar project highlighting the oxide layering as well as road access and proximity to the town of Cartwright, Labrador. Compilation analytical geophysics as acquired from historical sources, which SAGA has proven confidence in after the 2024 field programs.
Figure 3: Map of the Radar project highlighting the oxide layering as well as road access and proximity to the town of Cartwright, Labrador. Compilation analytical geophysics as acquired from historical sources, which SAGA has proven confidence in after the 2024 field programs.
About SAGA Metals Corp.
SAGA Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company's flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).
In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.
SAGA also holds additional exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.
On Behalf of the Board of Directors
Mike Stier, Chief Executive Officer
For more information, contact: SAGA Metals Corp. Investor Relations Tel: +1 (778) 930-1321 Email: info@SAGAmetals.com www.SAGAmetals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
Paul J. McGuigan, P. Geo is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V Project disclosed in this news release.
Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s Radar project drill assays. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company’s final prospectus in Manitoba and amended and restated final prospectus for British Columbia, Alberta and Ontario dated August 30, 2024, filed under its SEDAR+ profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
Photos accompanying this announcement are available at:
