Key Takeaways
SAGA Metals closed a title transfer agreement, acquiring 54 mineral claims to expand its Wolverine REE Project in Labrador to a total of 294.5 square kilometers.
The new claims introduce a high-grade, pegmatite-hosted mineralization style that complements the project's main zone of bulk disseminated, caldera-hosted mineralization.
High-Grade Surface Sample Results:
SAGA Metals Corp. (TSXV: SAGA) (OTCQB: SAGMF) has expanded its Wolverine Heavy Rare Earth Element Project in Labrador, reporting surface grab sample assays as high as 21.6% total rare earth oxides (TREO) from the newly acquired claims.
"The addition of these seven REE-bearing pegmatite showings, with assays up to 21.6% TREO, provides a compelling high-grade complement to our bulk disseminated mineralization," Michael Garagan, Chief Geological Officer for SAGA Metals, said in a statement.
The results, confirmed by accredited laboratories, include one fully resolved sample (11266) at 21.6% TREO. Two other samples (11265 and 11267) returned grades greater than 15.35% and 15.28% TREO, respectively, with cerium and neodymium concentrations exceeding laboratory detection limits. These samples were collected from peralkaline pegmatite showings on the 1,350-hectare property.
The acquisition strengthens SAGA's district-scale opportunity in the Flowers River Igneous Suite, a geological province that also hosts the globally significant Tanbreez and Strange Lake REE deposits. The company plans an aggressive 2026 exploration program focused on diamond drilling to validate the surface grades and test the system's depth.
The deal consolidates SAGA's land package to approximately 294.5 square kilometers. The acquisition terms include a cash payment of $52,700 on closing (paid), a further $50,000 in six months, and the issuance of 500,000 common shares. The vendors retain a 2% net smelter returns royalty, of which SAGA can repurchase half for $500,000.
The new claims are located 12 kilometers south-southwest of the area targeted in SAGA's 2025 drilling campaign. They add a second mineralization style to the project: high-grade REE content in narrow pegmatite bodies. This contrasts with the main Wolverine zone's bulk disseminated mineralization within caldera ash-flow tuffs.
This high-grade surface potential builds upon previous drilling that confirmed broad, near-surface mineralization. A 2025 reverse circulation drilling program returned key intercepts including 48.8 meters at 0.77% TREO from 1.5 meters deep and 38.1 meters at 0.71% TREO from surface.
The project benefits from its location 12 kilometers from tidewater and proximity to infrastructure supporting the nearby Vale Voisey's Bay mine. SAGA's upcoming 2026 work program will prioritize diamond core drilling for resource validation, metallurgical testing, and step-out drilling to define the extent of the mineralized system.
SAGA Metals' portfolio also includes the Radar Ti-V-Fe Project, the Double Mer Uranium Project in Labrador, and the Legacy Lithium Project in Quebec.
This article is for informational purposes only and does not constitute investment advice.
