SAGA Metals (TSX-V:SAGA) has completed the title transfer agreement to acquire three contiguous mineral licences totalling 1,350 hectares near the Wolverine Rare Earth Element (REE) Project in Labrador, Canada.
In mid-April 2026, SAGA executed the title agreement through paying C$52,700 ($53,114) to two vendors, as well as an additional C$50,000 which will be paid six months from closing. The company will also issue 500,000 shares to the vendors.
Director Michael Garagan says this marks a key step in expanding Wolverine as the company moves closer to consolidating the full extent of the property.
“The addition of these seven REE-bearing pegmatite showings, with assays up to 21.6% total rare earth oxide, provides a compelling high-grade complement to our bulk disseminated mineralisation in the Flowers River Igneous Suite (FRIS),” Garagan says.
“This is a major step forward that strengthens our district-scale opportunity within the FRIS and positions us for an aggressive 2026 exploration program.”
Aggressive exploration throughout 2026
SAGA Metals intends to conduct diamond drilling for resource validation and metallurgical test work. The drilling program will focus on confirming vertical grade zonation, validate mineralisation continuity, collect material for metallurgical testing, and verify rare earths host minerals.
Targeted step-out and deeper drilling will test the thickness of the enriched horizon, define the base of mineralisation, and improve geological confidence in areas where the system remains open.
Structural interpretation will also be carried out through geophysical surveys and outcrop mapping to better understand fault controls on the distribution of enriched horizons.
Ring dyke drilling south of the 2025 drill area will be conducted to evaluate an additional high-priority target with expansion potential. Technical advancement studies will also be undertaken.
The FRIS is a 1.3-billion-year-old Mesoproterozoic peralkaline magmatic province that represents one of the largest known peralkaline granite intrusive-volcanic complexes in Labrador.
Wolverine is a REE project comprising nine contiguous mineral licences totalling 294.5km2 in Canada.
SAGA Metals is a North American explorer focused on uncovering a suite of critical minerals that support the transition to supply security.
Write to Aaliyah Rogan at Mining.com.au
Images: SAGA Metals
