Core Viewpoint - SAGA Metals Corp. has confirmed the presence of uraninite in the pegmatites at the Double Mer Uranium project, indicating significant uranium potential along an 18km trend in Labrador, Canada [1][3][15]. Company Overview - SAGA Metals Corp. is focused on critical mineral exploration, with its flagship asset being the Double Mer Uranium Project, which spans 25,600 hectares and includes 1,024 claims [2][16]. - The company also holds the Legacy Lithium Property in Quebec and secondary exploration assets in Labrador for titanium, vanadium, and iron ore [17][18]. Project Details - The Double Mer Uranium Project is located approximately 90km northeast of Happy Valley-Goose Bay and is part of the Central Mineral Belt, which includes other significant uranium projects [2][3]. - The project features an 18km radiometrically anomalous pegmatite domain, with surface samples showing uranium concentrations as high as 4,281ppm U3O8 and spectrometer readings of 22,000cps [16]. Exploration and Drilling Plans - A drilling program of 1,500 to 2,500 meters is scheduled to commence in Q1 2025, focusing on the Luivik zone, which has shown promising uranium geochemistry [4][5]. - The Luivik zone has a width of 300 meters and has recorded anomalous grades over 0.11% U3O8, with a peak sample of 0.3692% U3O8 [6][7]. Petrographic Analysis - Recent petrographic and petrologic analyses indicate that the pegmatites in the Luivik zone are genetically related and exhibit characteristics conducive to uranium mineralization [5][12]. - The analysis has identified two subgroups of pegmatites, with one subgroup containing uraninite crystals and the other associated with rare earth elements [10][11]. Strategic Importance - The findings from the Double Mer Uranium Project position SAGA Metals to play a crucial role in the transition to green energy, as uranium is a key component in nuclear energy production [16][18].
SAGA Metals Completes Petrographic Analysis at Drill Ready Double Mer Uranium Project in Labrador, Canada