Core Viewpoint - SAGA Metals Corp. provides an update on the 2024 field program at the Legacy Lithium Project in Quebec, operated by Rio Tinto Exploration Canada Inc., highlighting ongoing exploration activities and findings related to lithium mineralization [1][8]. Project Overview - The Legacy Lithium Project covers an area of 34,243 hectares in Quebec's Eeyou Istchee James Bay region and is under an Option to Joint Venture Agreement with Rio Tinto Exploration Canada Inc. [2][3]. Joint Venture Agreement - Under the Option Agreement, Rio Tinto has the option to acquire a 51% interest in the Legacy Lithium Project over four years, with the potential to increase its stake to 75% by spending an additional C$34.18 million on exploration [3]. Exploration Activities - In 2024, RTEC conducted geological mapping, satellite imagery surveys, and airborne magnetics surveys, collecting 173 pegmatite and country rock grab samples for geochemical analysis [8][9]. - The exploration focused on prospecting for lithium mineralization in pegmatites within the James Bay Pegmatite District [9]. Geochemical Findings - The highest Li₂O value found in pegmatite was 85 ppm, with a maximum Li₂O value of 201 ppm found in paragneiss [11]. - Anomalous tantalum and beryllium values were also identified, indicating potential for further exploration [11]. Geophysical Surveys - A helicopter-borne magnetic survey completed 3,096 line-km of data, although only 40% of the planned area was covered due to weather and technical issues [16]. - Pegmatites were mapped and correlated with zones of magnetic lows, aiding in focused exploration efforts for 2025 [17]. Future Exploration Plans - RTEC plans to continue mapping, sampling, and prospecting in 2025, particularly in new zones of interest identified during the 2024 field season [18]. Company Background - SAGA Metals Corp. is focused on the exploration and discovery of critical minerals, including lithium, to support the transition to green energy [24][25].
SAGA Metals Updates On Rio Tinto’s Field Progress at Optioned Legacy Lithium Project