High-grade assays from Saga Metals’ (TSXV: SAGA; US-OTC: SAGMF) Radar titanium-vanadium-iron project in Labrador indicate continuity across broad zones of oxide mineralization and point to the potential scale of the Trapper deposit as the company prepares to publish an initial resource. The results also matter because a maiden resource is a key milestone for an early-stage explorer: it begins to define tonnage and grade, which can help investors and the market gauge whether a discovery is becoming a more substantial critical minerals project.

Highlight hole R-0055 returned 97.6 metres grading 43.54% iron oxide (Fe 2 O 3), 6.62% titanium (TiO 2) and 0.277% vanadium oxide (V 2 O 5) from 320 metres depth, including 66 metres at 47.65% Fe 2 O 3, 7.36% TiO 2 and 0.317% V 2 O 5, Saga reported Tuesday. Radar is about 10 km south of the fishing town of Cartwright and 390 km east of Labrador’s largest community, Happy Valley-Goose Bay.

“The latest assays from holes R-0055 through R-0057 continue to deliver exactly what we want to see as we advance toward our maiden mineral resource estimate – broad, consistent zones of oxide mineralization with strong titanium, vanadium and iron grades,” Saga’s Chief Geological Officer and Director Michael Garagan said in a release.

“These results further reinforce the growing scale and potential of the Radar project as a significant critical minerals asset in Labrador.”

Few titanium-vanadium explorers

Saga is among the few exploration companies targeting titanium and vanadium in Canada. Both metals are used in steelmaking and in aerospace and nuclear applications, which helps explain why discoveries with multiple payable metals can attract attention even before a resource is published. Rio Tinto (ASX, NYSE, LSE: RIO) operates Canada’s only titanium mine, Lac Tio, in eastern Quebec. There are no vanadium mines in Canada.

Western aerospace manufacturers are expected to need 1.6 million tonnes of titanium by 2044, although Russia and China control much of the global supply, U.K.-based market intelligence firm Project Blue said in a January report.

Other strong assays came from hole R-0056, which cut 87.3 metres at 33.39% Fe 2 O 3, 4.65% TiO 2 and 0.207% V 2 O 5 from 239 metres depth, including 33 metres grading 43.67% Fe 2 O 3, 6.14% TiO 2 and 0.318% V 2 O 5.

Hole R-0057 returned 101.7 metres at 38.65% Fe 2 O 3, 5.60% TiO 2 and 0.249% V 2 O 5 from 233 metres depth, including 20.6 metres grading 47.72% Fe 2 O 3, 6.98% TiO 2 and 0.351% V 2 O 5.

Program nears completion

After more than 18,600 metres drilled and 50 holes assayed, the initial resource drilling program is expected to be completed in the coming weeks, Garagan said. With that work nearing the finish line, the next company update to watch for is the maiden resource estimate itself, which should provide the first formal snapshot of the size and grade of the Trapper area within Radar.

Radar includes the Trapper, Hawkeye and Falcon targets. Saga shares fell 1% to 41¢ apiece on Tuesday morning in Toronto, giving the company a market capitalization of $41.2 million. The stock has traded in a 12-month range of 22¢ to 98¢.