Key drill intercepts from HEZ-05 & HEZ-07 (2 additional holes of the 7-hole program) include:
- Hole HEZ-07 : 20.2 meters intercept grading 31.4% Fe, 6.3% TiO₂, and 0.44% V₂O₅.
- Hole HEZ-05: 25.0 meters intercept grading 19.9% Fe, 4.1% TiO₂, and 0.21% V₂O₅.
| | | | | | | |
| Description | DDH | FROM | TO | Length | Fe | TiO2 | V205 |
| ID | m | m | m | % | % | % |
| Highest Grade intercept | HEZ-07 | 185 | 205.2 | 20.2 | 31.354 | 6.324 | 0.435 |
| Layering Sequence_01 | HEZ-07 | 86.8 | 103.23 | 16.43 | 25.559 | 5.007 | 0.356 |
| Layering Sequence_02 | HEZ-07 | 147.5 | 205.2 | 57.7 | 27.090 | 5.305 | 0.365 |
| Layering Sequence_03 | HEZ-07 | 225.7 | 236 | 10.3 | 27.549 | 5.339 | 0.377 |
| Full Hole | HEZ-07 | 2.3 | 314 | 311.7 | 15.831 | 2.855 | 0.183 |
| Highest Grade intercept_S | HEZ-05 | 236 | 261 | 25 | 19.918 | 4.144 | 0.213 |
| Layering Sequence | HEZ-05 | 117.2 | 304.5 | 187.3 | 17.998 | 3.753 | 0.177 |
| Full Hole | HEZ-05 | 4.50 | 459.00 | 455.50 | 13.777 | 2.691 | 0.122 |
| | | | | | | |
Table 1: Composite grades of HEZ-07 & HEZ-05
| | | | | | | |
| Sample Number | DDH | FROM | TO | Length | Fe | TiO2 | V205 |
| ID | m | m | m | % | % | % |
| 1473004 | HEZ-07 | 178 | 178.5 | 0.5 | 45.4 | 9.1 | 0.66 |
| 1473055 | HEZ-07 | 201 | 201.5 | 0.5 | 43.6 | 9 | 0.632 |
| 1473002 | HEZ-07 | 177 | 177.5 | 0.5 | 43.9 | 8.8 | 0.631 |
| 1473113 | HEZ-07 | 235 | 235.5 | 0.5 | 42 | 8.7 | 0.591 |
| 1472452 | HEZ-05 | 208.5 | 209 | 0.5 | 34.7 | 7.4 | 0.403 |
Table 2: High-grade samples from HEZ-07 & HEZ-05 show correlation to higher Titanomagnetite content in samples.
The SAGA team has completed an assessment of assay results from drill holes HEZ-05 and HEZ-07. Geochemical analysis confirms a consistent Ti-V-Fe relationship, aligning well with the oxide layering previously observed in HEZ-01 and HEZ-04. Notably, HEZ-05 contains over 180 meters of core, and HEZ-07 nearly 100 meters, both averaging over 25% titanomagnetite content. Several standout samples, such as those listed in Table 2, report titanomagnetite concentrations as high as 60%.
HEZ-05, a twin of HEZ-04 but drilled at a 70-degree dip, exhibits a strong geological correlation, extending confidence in the continuity of oxide layering down to a vertical depth of 300 meters. Meanwhile, HEZ-07, which targeted a distinct magnetic anomaly, confirmed the extension of oxide layering observed in HEZ-01. This extension appears to be laterally displaced by sinistral faulting relative to the main body. Supporting this interpretation, multiple fault structures were encountered, and several intercepts revealed fine-grained, massive magnetite layers up to 3-meters thick—the highest-grade intervals observed across all drill holes.
The initial seven-hole, 2,200-meter drill program has successfully tested the primary target area, covering a 500 by 350-meter panel. With the inclusion of recent assays from HEZ-05 and HEZ-07, the continuity of high-grade oxide mineralization is now supported to a vertical depth of 300 meters. These new results reinforce earlier findings from HEZ-01 and HEZ-04, confirming the presence of extensive and consistently mineralized oxide layers.
Drilling Highlights to Date:
- Analytical results have been received for an additional two priority diamond drill holes (targeting oxide layering) from the 2025 winter program, with results from three additional holes still pending.
- Combined with petrographic analysis, these new assays further confirm that the primary economic mineral is vanadiferous titanomagnetite—favorable for simplified metallurgical processing.
- Notable intercepts of vanadiferous titanomagnetite to-date include:
- 20.2 meters grading 31.35% Fe , 6.32% TiO₂ , and 0.435% V₂O₅ in HEZ-07
- 25.0 meters grading 19.92% Fe , 4.14% TiO₂ , and 0.213% V₂O₅ in HEZ-05
(See composite results in Table 1 above) - 31.5 meters grading 25.95% Fe, 5.34% TiO 2 and 0.28% V 2 O 5 in HEZ-01
- 50 meters grading 24.49% Fe, 4.74% TiO 2 and 0.305 % V 2 O 5 in HEZ-04
(Click here to see SAGA's news release dated May 5, 2025 for full details on holes HEZ-01 & HEZ-04.)
- Titanomagnetite-rich zones average between 20% and 40% titanomagnetite, with localized massive layers exceeding 60%.
- Drilling has confirmed the presence of oxide layering and associated magnetic anomalies to vertical depths of up to 300 meters.
- Current drilling has tested just 1/40th of the identified 20 km strike extent of the oxide layering zone within the Dykes River Intrusion (refer to Figure 2 for map view) .
Figure 1: 500m strike by 350m width magnetic anomaly drilled in the winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey). Shows DDH collars and Lithologies.
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 deposit. These findings indicate a titanomagnetite mineralization system which is advantageous for simplified metallurgical processing and potentially improved economic outcomes.
The 2025 drill campaign represents 1/40 th 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.
"These additional results are consistent with HEZ-01 & HEZ-04 which demonstrate what we can expect when intercepting oxide layering throughout the property. This is by far the most important take home and revelation from all 4 holes that have returned assays; exceptional consistency and width," commented Michael Garagan, CGO & Director of Saga Metals . "Additionally, HEZ-07 despite being offset from the main layering sequence has consistent high-grades and shows that even the structural offsets within this 1.6-billion-year-old layered mafic intrusion show signs of economic potential."
Figure 2: The prospective inferred ~20km aerial oxide layering zone on the Radar property. Compilation of 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 24,175-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.
Figure 3: Map of the Radar project highlighting the oxide layering, road access, and proximity to the town of Cartwright, Labrador. SAGA has proven confidence in the compilation of analytical geophysics acquired from historical sources after the 2024 field programs.
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on exploring and discovering 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% U 3 O 8 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.
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.
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.
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.
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