Key drill intercepts from HEZ-06, HEZ-02 & HEZ-03 (final 3 holes of the 7-hole program) include:
- Hole HEZ-06: 28 meters intercept grading 20.11% Fe, 4.22% TiO₂, and 0.214% V₂O₅.
- Hole HEZ-02 : 37 meters intercept grading 12.4% Fe, 4.17% TiO₂, and 0.069% V₂O₅.
- Hole HEZ-03: 55 meters intercept grading 11.37% Fe, 4.07% TiO₂, and 0.051% V₂O₅.
| | | | | | | |
| Description | DDH | FROM | TO | Length | Fe | TiO2 | V205 |
| ID | m | m | m | % | % | % |
| Highest Grade intercept | HEZ-06 | 265 | 293 | 28 | 20.11 | 4.22 | 0.214 |
| Entire Hole | HEZ-06 | 1.8 | 293 | 291 | 13.55 | 3.26 | 0.101 |
| Layering Sequence | HEZ-06 | 131.5 | 293 | 162 | 14.93 | 3.15 | 0.127 |
| Highest Grade intercept | HEZ-02 | 167 | 204 | 37 | 12.40 | 4.17 | 0.069 |
| Entire Hole | HEZ-02 | 1.5 | 300 | 298.5 | 12.03 | 3.37 | 0.069 |
| Layering Sequence | HEZ-02 | 39.5 | 62.2 | 22.7 | 15.130 | 3.43 | 0.103 |
| Highest Grade intercept | HEZ-03 | 178 | 233 | 55 | 11.37 | 4.07 | 0.051 |
| Entire Hole | HEZ-03 | 4 | 233 | 229 | 13.12 | 3.35 | 0.079 |
Table 1: Composite grades of HEZ-06, HEZ-02, & HEZ-03
"The Dykes River Intrusion is a layered mafic intrusion. Our initial 7 diamond drill holes comprised 4 holes that tested the semi-massive to massive vanadiferous titanomagnetite layers and 3 holes that were sited mostly above and to the south of the magnetite layers. The 3 holes reported herein will facilitate a complete sampling of the entire intrusive layering sequence. These seven successful drill holes test a highly mineralized zone, confirming the extraordinary potential lying within our 20 km of high magnetic responses and titanomagnetite layers," commented Michael Garagan, CGO & Director of Saga Metals .
Interpretation of the Drill Results for HEZ-06, HEZ-02 & HEZ-03:
HEZ-06, HEZ-02 & HEZ-03 were all drilled within the hangingwall of the oxide layering zones. These layering intercepts bracketed the oxide layering intersected in HEZ-01, HEZ-04, HEZ-05 & HEZ-07, which intercepted the main layers of the titanomagnetite mineralization.
- HEZ-06, once again, intersected the same gabbronorite zone as seen in hole 2 & 3 but additionally intercepted the prospective gabbronorite/titanomagnetite layering tested in the top of holes 4 & 5. SAGA's metallurgical team is working through the data to correlate the structure and geochemistry of these cumulate layers and reach important conclusions in the coming weeks.
- HEZ-02 was drilled to intercept the hangingwall of the layering zones encountered in HEZ-01 and was successful in bracketing the final stages of layering prior to entering the Gabbro-Norite host rock. It further contained the first glimpse of an intercepted zone which has since been tracked in both HEZ-03 & HEZ-06 where an above 4% TiO 2 average is tracked from 167 meters depth to the end of the Hole at 300 meters: 133 meters intercept grading 12.36% Fe, 4.14% TiO₂, and 0.064% V₂O₅ .
- HEZ-03 intercepted the same above 4% TiO 2 average within the Gabbro-Norite zone encountered at the end of HEZ-02: 66.5 meters intercept grading 11.20% Fe, 4.03% TiO₂, and 0.05% V₂O₅ . Based on SAGA's interpretation, the Titanomagnetite layering sequence is expected further down this hole, and with all drill collars left in the hole, the team has the ability to extend HEZ-03 into the layering zones in the future if needed.
These last three drill holes complete the evaluation over the cross section of the entire magnetic anomaly drilled during this program, which has allowed the team to isolate four separate magmatic layers across the zone of mineralization, which is mappable and trackable. These consistent brackets of VTM mineralization will be the focus of SAGA's efforts for both mapping and metallurgical purposes.
Next Steps for the Radar Project:
The Radar Project has completed its first critical steps with the proof-of-concept 2025 winter drill program, which highlights the significance of the correlation between surface samples, geophysics, and drilling. SAGA is now targeting its other magnetic anomalies across the Property, all of which are larger than the one recently drilled.
Next steps to quickly delineate drill targets will involve completing detailed ground geophysics over the main regional airborne magnetic anomalies, as shown in Figure 2 below. In conjunction with ground-based geophysics over the priority anomalies, SAGA plans to execute a property-wide high-resolution aeromagnetic survey to locate high-priority drilling targets.
Additionally, SAGA has initiated a metallurgy and petrography analysis on the core from the Hawkeye zone. This work will determine the recoverable vanadiferous magnetite and the quality of potential concentrates.
Lastly, SAGA will conduct alternate whole-rock analyses to delineate secondary mineralization of phosphate, manganese, and scandium, as well as certain REE that are prospective in this large mafic layered intrusion.
Drilling Highlights to Date:
- Analytical results have now been received on all 7 diamond drill holes from the 2025 winter program.
- 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 from the 2025 winter drill program include:
- 20.2 meters grading 31.35% Fe , 6.32% TiO₂ , and 0.435% V₂O₅ in HEZ-07
- 57.7 meters grading 27.09% Fe, 5.305% TiO₂, and 0.365% V₂O₅ in HEZ-07
- 25.0 meters grading 19.92% Fe , 4.14% TiO₂ , and 0.213% V₂O₅ in HEZ-05
- 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
- 28 meters grading 20.11% Fe, 4.22% TiO₂, and 0.214% V₂O₅ in HEZ-06
- 37 meters grading 12.4% Fe, 4.17% TiO₂, and 0.069% V₂O₅ in HEZ-02
- 55 meters grading 11.37% Fe, 4.07% TiO₂, and 0.051% V₂O₅ in HEZ-03
(Click here to see SAGA's news release dated May 5, 2025 for full details on holes HEZ-01 & HEZ-04 and here to see SAGA's news release dated May 26, 2025 for full details on holes HEZ-05 & HEZ-07)
- 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 winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey). Shows DDH collars and Lithologies.
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.
The 2025 drill program confirmed massive to semi-massive oxide layering, hosting titanium and vanadium mineralization, representing only 1/40 th of the approximately 20km long oxide layering zone identified at the Radar project. 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.
Figure 2: Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
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-Fe Project disclosed in this news release.
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% 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 discovering 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.
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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