SAGA Metals Corp. says it has moved crews, equipment and supplies to its Wolverine heavy rare earth element project in central Labrador and erected camp infrastructure ahead of a 4,000 to 5,000 metre diamond drill program. Chief geological officer Michael Garagan said in the release that all parts of the program are expected to begin in mid-August.
The company holds 100% of Wolverine, described as royalty-free, covering nine contiguous licences of roughly 294.5 square kilometres about 50 km west of Hopedale and 12 km inland from the coast. Access is by fixed-wing aircraft to Hopedale, then helicopter.
Unlike the 25 reverse circulation holes drilled in 2025 " which produces rock chips rather than intact cylinders " this campaign uses diamond drilling to recover core. SAGA says the core is intended to support geological, structural, mineralogical, density and metallurgical work, with the stated goal of moving toward a first NI 43-101 mineral resource estimate. No timeline for that estimate was given.
The 2025 RC program returned 537 samples across an area measuring about 1.7 km by 1.2 km. Reported intercepts include 48.8 metres at 0.77% total rare earth oxides from 1.5 metres depth in hole WOLRC25-003, including 18.3 metres at 1.06%, and 38.1 metres at 0.71% from surface in WOLRC25-006. The highest single assay was 2.03% TREO, and the company puts the heavy rare earth share of the total at roughly 24% to 28%. Separately, 39 grab samples from seven peralkaline pegmatites in the southwest of the property assayed up to 21.6% TREO. Grab samples are selected surface pieces and are not representative of any wider grade.
SAGA notes that mineralized tuff is exposed over 26 square kilometres at depths of 25 to 50 metres, and that less than 10% of the prospective unit has been drilled.
On funding, letters of intent for both Wolverine, held through subsidiary Catalyst Rare Metals, and the Radar titanium-vanadium-iron project were approved under provincial and federal exploration assistance programs for 2026, each for up to C$143,949 in non-dilutive support. The release does not state the total budget for the drill program or the company's cash position.
Marketing spend
The company also disclosed a renewed digital marketing agreement dated August 1, 2026 with Machai Capital Inc. of Surrey, British Columbia. SAGA will pay C$400,000 over a 120-day term from working capital, plus 200,000 options at C$0.50 exercisable for two years and vesting quarterly over 12 months. Machai's president Suneal Sandhu will be involved in the work; the company states neither holds an interest in SAGA securities. The agreement is subject to TSX Venture Exchange approval and can be ended by mutual consent.
That C$400,000 is paid investor-awareness spending, and readers should treat resulting online coverage accordingly.
Source: Newsfile
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