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SAGA Metals Announces Assay Results from North Wind Iron Ore Project
VANCOUVER, British Columbia, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (“TSXV: SAGA”) (“FSE: 20H”) (“SAGA” or the “Company”), a North American explora
About this update from Saga Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (“TSXV: SAGA”) (“FSE: 20H”) (“SAGA” or the “Company”), a North American exploration company focused on discovering critical minerals, is pleased to announce the results from its initial field program at the North Wind High-Purity Iron Ore project in west central Labrador, Canada. Key Field Program Highlights High-Grade Iron Ore Potential: Iron content (Fe₂O₃) in samples from the Sokoman Formation ranges from 4.88% to 84.57%, with the highest grades concentrated in the middle and lower iron formation members, spanning an impressive 600–700 meters in combined width. Magnetite-Rich Ore: Davis Tube separation techniques confirm the presence of magnetite-rich taconite ore, along with high-purity hematite, limonite, and goethite. These results are comparable to regional resources at the KéMag, Sheps Lake, and Perrault Lake deposits, which boast strong resource estimates. Extensive Mineralization Zone: Fieldwork identified iron ore mineralization over a 4km NW-SE trend, with indications that the mineralized zone continues southeast. Surface thickness of the mineralized trend ranges between 600 and 700 meters, underscoring the project’s potential scale. Figure 1: Regional map of the North Wind Iron Ore Project in Labrador, Canada SAGA’s North Wind Iron Ore Project The North Wind Iron Ore property located 16 kilometers southwest of Schefferville, Quebec, within the prolific Labrador Trough, represents a secondary but high-potential asset within SAGA Metals’ portfolio. The Labrador Trough, an extensive 1,100-kilometer suite of Proterozoic rocks, is renowned for hosting world-class iron ore deposits and is a major hub for iron ore exploration. The North Wind property spans 6,375 hectares across 255 claim blocks under a single license. Its geological framework holds significant potential, reinforced by a portion of a historical resource estimate (NI 43-101 compliant) completed in 2013 by New Millennium Iron. This estimate focused on two key types of iron ore commonly found in the Labrador Trough: Soft iron ores: Composed of fine-grained secondary iron oxides, including hematite, goethite, and limonite. Taconites: Fine-grained, weakly metamorphosed iron formations with above-average magnetite content. Historical exploration at North Wind includes data from eigh...