SAGA Metals has announced its maiden drill programme at the Double Mer Uranium Project in eastern-central Labrador.
The project spans 25,600ha and lies around 90km north-east of Happy Valley-Goose Bay.
With historical exploration data underpinning its 2024 field programme, SAGA aims to expand known uranium mineralisation along an 18km trend.
The company’s work throughout the 2024 field season has bolstered its confidence in the project’s potential.
By compiling and validating key data, SAGA has refined its understanding of the target zones, especially the Luivik zone, where drilling is set to commence.
The Double Mer Uranium Project is viewed by SAGA as a promising addition to Labrador’s Central Mineral Belt, which includes significant uranium projects like Paladin Energy‘s Michelin and Atha Energy’s CMB discovery.
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By GlobalData
SAGA is optimistic about the large-tonnage potential of Double Mer, supported by encouraging surface samples and geophysical data.
The upcoming drill programme, ranging from 1,500m to 2,500m within the Luivik zone, aims to confirm uranium concentrations and initiate delineation of the zone’s uranium resources.
This drilling is a strategic move to establish Double Mer as a noteworthy project in the Labrador uranium sector.
SAGA Metals CGO and director Michael Garagan said: “We are incredibly excited to be starting the preparations for our maiden drill programme, a key milestone for the company. The Luivik zone target is incredibly compelling and is born from our efforts over this past field season.
“We submitted our drilling permits early autumn in anticipation and now, with the recent closing of the second tranche from our IPO [initial public offering] prospectus, SAGA can start to put plans in motion.
“The Luivik zone looks to contain a late-stage fluid enrichment to the already emplaced uraniferous pegmatites and conveniently is located proximal to our camp, making for a logistically practical initial drill programme in the winter months.”
Last month, SAGA Metals acquired full ownership of the Amirault Lithium Property, adjacent to the Legacy Lithium Project optioned by Rio Tinto in Canada.
