#Canada #Labrador #SAGA Metals #Wolverine Rare Earth Project #REE Exploration

SAGA Metals' Comprehensive Drill Program Reveals Promising Results at Wolverine Rare Earth Project

SAGA Metals Corp., a prominent North American exploration company, proudly announced the successful execution of its inaugural diamond drill program at the Wolverine Heavy Rare Earth Element Project located in Labrador, Canada. This project is entirely owned by SAGA and marks a significant milestone in the exploration landscape of critical mineral discoveries.

Overview of the Diamond Drill Program

The recent drilling program consisted of 22 diamond drill holes, totaling an impressive 3,241 meters. This initiative represents the most systematic drilling effort conducted on this property to date. The drill program had three primary objectives:
1. To execute the first diamond drill program aimed at testing rare earth element (REE) mineralization previously documented by historic methods such as reverse circulation (RC) drilling, backpack drilling, and surface sampling.
2. To conduct comprehensive alteration and outcrop mapping in the areas surrounding the drill sites.
3. To undertake prospecting and rock sampling in additional potentially mineralized regions that lie outside the immediate drill footprint.

To affirm the integrity and reliability of the results, a meticulous logging process by on-site geologists confirmed that the identified alteration assemblages correlated with REE mineralization across all drilled holes. Notably, the two holes that have undergone complete logging and sampling have revealed substantial intervals of alteration associated with mineralization.

Geological Findings

Throughout the drilling, promising alteration assemblages were observed, indicating potential threads of REE mineralization within all 22 holes. The geological complexity includes interactions between various tuff units, particularly emphasized within the crystal-poor ash tuff (Unit 4) and its relationships with nearby units.

Noteworthy findings from the core samples include:

• - W26-001: Drilling reached a depth of 182 meters, with the upper 13.1 meters consisting of red quartz-feldspar crystal tuff of Unit 5, transitioning into mixed sequences of tuff types. The logged alteration shows thick intervals across the core, indicating extensive mineralization prospects.
• - W26-002: This hole, extending to 179 meters in depth, exhibited a significant alteration pattern dominated by sulphidic and chloritic intervals. The core samples collected from this hole also support the existence of substantial REE-bearing material.

A total of 138 samples from W26-001 and 139 samples from W26-002 have been collected, with assays pending for these entries. Current plans involve completing the logging and sampling of the remaining 20 holes, and the company is optimistic about receiving and reporting the assay results in upcoming batches.

Prospecting and Rock Sampling Updates

During the two-month diamond drill program, prospecting extended beyond the drill area. A total of 136 grab samples were taken to analyze mineralization potential across wider portions of the Wolverine property. This prospecting activity confirmed and documented the presence of multiple mineral-bearing units across significant distances on the site, thereby expanding the target area for future drilling.

Observations regarding the alteration and structural characteristics highlight that the REE mineralization is likely hosted within a propylitic alteration zone developed in volcanic units 3, 4, and 5. The interpretation points toward a hydrothermal framework involving various degrees of chloritization and pervasive replacements of the volcanic rocks.

Looking Ahead: Next Steps

Going forward, SAGA Metals intends to continue the remaining logging and sampling processes while submitting samples for assays. Proposed future activities also include an induced polarization (IP) survey planned for Q2 2027, which aims to enhance the understanding of geological formations and strategize subsequent drilling initiatives. These efforts will work towards defining the depth extensions of interpreted hydrothermal systems into potential source rocks.

In closing, Michael Garagan, SAGA's Director and Chief Geological Officer, emphasized the success of the current drill program, which has not only reinforced expectations regarding the mineralization potential within the Wolverine project but has also set a comprehensive data-driven foundation for future exploration efforts. The overarching goal remains to validate the Wolverine project as a strong contender within the lucrative arena of rare earth element resource development, positioning SAGA Metals as a key player in the North American critical mineral supply chain.