VANCOUVER, British Columbia, March 19, 2024 (GLOBE NEWSWIRE) — Saga Metals Corp. (the “Company” or “Saga”), a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce the release of a new corporate video detailing the Company’s three 100% owned critical mineral projects in Quebec and Labrador. In addition, the Company has mobilized a team to conduct a 3-week field program at its Radar Project in Labrador, 10km south of Cartwright, NL.
A Media Snippet accompanying this announcement is available by clicking on this link.
The Company encourages everyone to watch the corporate video, found here, to gain in-depth insight into the prospects of the Company’s Double Mer Uranium Project in Labrador, Legacy Lithium Project in Quebec and Radar Titanium-Vanadium Project in Labrador in a brief 2.5 minute video.
Saga 100% owns three projects in Quebec and Labrador, Canada: two of the top tier mining jurisdictions as highlighted by the Fraser Institute both in North America and around the globe. Critical minerals provide the building blocks for the modern world and are essential to national security and economic prosperity. Saga is focused on a diversified portfolio of metals to support the global green energy transition. Canada has a list of 31 minerals it considers to be “critical” and Saga currently focuses on 4 of them including uranium, lithium, titanium and vanadium.
Saga Metals projects in Quebec and Labrador
Radar Project, Labrador – Cut-line Field Program Begins
The Company’s Radar Titanium-Vanadium Project encompasses 17,250 hectares and is located with road access due south of Cartwright in Labrador, Canada. After only two weeks on the property last summer, Saga discovered a 3.5km by 500m zone of enrichment containing over 6% titanium and up to 3,670ppm vanadium known as the Hawkeye zone.
The Hawkeye zone and the additional property acquisition boundaries of the Radar Project
Saga is mobilizing a field team for 3 weeks at the Radar project to complete a series of cut lines over the property. These lines will create the necessary access to complete the proposed field program this coming summer. The 2024 exploration field program will also focus on infill sampling to define and expand the current Hawkeye zone. Much like Double Mer, Saga believes the Radar Project can commence its maiden drill program after a short early field season to prioritize drill targets. Additional mapping and sampling will be conducted via the new access trails in the prospective zones highlighted in the geophysics map seen below.
Approved cutlines over the Radar Project and the Corresponding Geophysics
Following the cut-line program at the Radar Project, the Company is planning to conduct a similar program at the Double Mer Uranium Project located approximately 150kms northwest of the Radar Project in Labrador.
The cut-line field program at Double Mer will open an access trail around the highly prospective western anomalous zone as well as along the confirmed 14km Uranium trend.
Proposed access trail at the Double Mer Uranium Project in Labrador
Saga’s Double Mer Uranium Project spans 25,600 hectares located in the eastern central region of Labrador, Canada approximately 90km northeast of Happy Valley, Goose Bay. With millions of dollars in historical work spent on Double Mer, the Company has confirmed a 14km trend of highly prospective uranium oxide (U3O8) including anomalous rock samples with results up to 4,280ppm of U3O8 and upwards of 20,000cps (counts per second) from the scintillometer. The uranium count radiometrics highlight an 18km east-west linear trend averaging approximately 500 meters in width.
The Double Mer Uranium Project was drill ready back in 2008 and with a short ground program planned in the spring, Saga will commence its maiden drill program. The spring program will concentrate on historical results verification as well as in-fill rock samples to vector in on the highest priority zones for drilling.
“Getting these cutlines completed is an integral part of our preparation for this upcoming exploration season,” states Michael Garagan, Chief Geological Officer of Saga Metals. He continues, “the Radar project has a lot of cover, and these access trails will allow us to infill sample the mineralized zone as well as get to the western prospective zones with much more efficiency. At Double Mer we are very fortunate to have such a deep understanding of our property and have a confirmed 14km trend. The access trails here will provide necessary support to extend the thickness of the trend through additional sampling as well as create the line for the drill rig. We are excited to have some local workers join our upcoming field program and look forward to continuing to build relationships with the surrounding communities.”
To learn more about the Company’s projects visit the projects page here and corporate video here.
To access the company’s corporate presentation select here.
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals to support the global green energy transition. Saga’s flagship asset is the Double Mer Uranium project spanning 25,600 hectares and located between the towns of Goose Bay and Rigolet in eastern Labrador, Canada. The Uranium radiometrics highlight an 18km east-west linear trend averaging ~500m in width with 14km confirmed to contain highlight samples up to 4,281ppm U3O8 and 21,000cps on a spectrometer. The Company’s secondary asset is the Legacy Lithium Project, located in the Eeyou Istchee James Bay region of Quebec, Canada. The Company owns 34,243 hectares of land in the eastern region of the La Grande sub-province aiming to discover hard rock lithium minerals. The property is located along strike from notable successes in the eastern region and with over 100+ pegmatites, Saga has confirmed four zones of LCT-bearing pegmatites over a combined 7km strike. The Company’s third asset is a Titanium and Vanadium project covering 17,250 hectares located 10km south of Cartwright in Labrador. Here the Company has discovered a 3.5km by 500m zone of enrichment containing over 6% Titanium and up to 3,670ppm Vanadium.
For further information, please contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: [email protected]
www.sagametals.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/396b696d-7925-4753-b7c9-3fb04970d4cf
https://www.globenewswire.com/NewsRoom/AttachmentNg/cf66cfd0-98f4-44ae-8e5d-7d3ee0f1476e
https://www.globenewswire.com/NewsRoom/AttachmentNg/d321b35a-3466-4941-aa2b-b4aaf2a25b69
https://www.globenewswire.com/NewsRoom/AttachmentNg/986e0f7b-0045-4eaf-ad56-432457875f28
