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SAGA Metals Closes Amirault Lithium Acquisition Contiguous to Rio Tinto Optioned Legacy Lithium Project
VANCOUVER, British Columbia, Oct. 15, 2024 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (the “Company” or “SAGA”), a North American exploration company focused on crit
About this update from Saga Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 15, 2024 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (the “Company” or “SAGA”), a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce that, further to its news release dated July 2, 2024, it has completed the acquisition (the “Acquisition”) of a 100% interest in 606 mining claims covering an area of 31,347.76 hectares in the Eeyou Istchee James Bay region of Québec, referred to as the Amirault Lithium Property (the “Amirault Property”). The Amirault Lithium Property & Legacy Lithium Project: The Largest Contiguous Land Holdings in Eastern James Bay, Quebec The Amirault Lithium Property is contiguous to SAGA's Legacy Lithium Project, expanding SAGA's land holdings to 1,274 claims across 65,849 hectares (658 square kilometers). This acquisition significantly enhances the Company's position in a high-potential lithium-bearing region, with prospective pegmatite formations along the same discovery trend as Winsome Resources, Azimut Exploration, Rio Tinto, and Loyal Lithium (See Figure 1). Growing Lithium Opportunity This acquisition strengthens SAGA's foothold in the eastern district of James Bay, one of Canada’s most promising lithium exploration regions, where major companies are validating the area’s potential with ongoing discoveries and exploration successes including: Winsome Resources’ Adina Lithium project announced its preliminary economic assessment with an indicated resource of 60.5Mt at 1.14% Li2O and inferred resource of 15.9Mt at 1.17% Li2O. Read More. Loyal Lithium’s Trieste project continues to take shape with the discovery of a seventh spodumene pegmatite dyke increasing its trend to a 22km stretch of high lithium prospectivity. Read More. Azimut Exploration and Soquem complete systematic till sampling highlighting new prospective zones with cumulative length of ~18km with boulders grading up to 5.36% Li2O. Read More. Midland Exploration in partnership with Rio Tinto announced $5.8M drill program on the Iceberg Showing which has already confirmed high-grade lithium up to 7.2% Li2O and spodumene-bearing pegmatites on the Galinee project. Read More. Figure 1: A map of the “Lithium Neighborhood” at the Legacy Lithium Project in Quebec The Legacy Lithium project as shown in Figure 1 is subject to the option to joint venture agreement ...