Drilling Progress at the Radale Vanadium-Titanium Magnetite Mine in Canada

According to the Mining.com website, Saga Metals Corp. encountered high-grade ore bodies in the initial drilling at the Trapper target of its Radar vanadium-titanium magnetite project in Labrador, Canada, which are comparable to the adjacent Hawkeye ore zone.

In a report released on Monday, Saga stated the main drill results include: Hole R-0009 intersected 296 meters of ore at a depth of 2.5 meters, with grades of 39.75% iron, 7.46% titanium oxide (TiO2), and 0.25% vanadium oxide (V2O5). This includes a 63-meter-thick ore body grading 44% iron, 9% TiO2, and 0.25% V2O5.

Hole R-0008 intersected 269.36 meters of ore at a depth of 3.4 meters, with grades of 36.21% iron, 6.57% TiO2, and 0.24% V2O5. This includes an 80-meter-thick ore body grading 45.63% iron, 8.4% TiO2, and 0.33% V2O5, as well as a 68-meter-thick ore body grading 46.15% iron and 9.2% TiO2.

The Trapper target exhibits iron, titanium, and vanadium grades that are 124%, 105%, and 37% higher, respectively, than those of the nearby Hawkeye ore zone.

"The preliminary drilling at Trapper North in 5 verified the massive and semi-massive oxidized ore observed by the team during logging," said Michael Garagan, Chief Geologist and Director of Saga, in a news release.

"The results from the first two holes represent a tremendous success and are the best drilling outcomes to date for the Radar project."

Both Trapper and Hawkeye are deposits within the Radar project. The Radar project is located near the Mealy Mountains, approximately 10 kilometers south of the fishing port of Cartwright and 390 kilometers east of Happy Valley-Goose Bay, the largest community in Labrador.