Trapper target emerges as Saga’s top titanium-vanadium plot in Labrador

Core Insights - Saga Metals has reported high-grade results from initial drilling at its Radar iron-titanium-vanadium project in Labrador, indicating that its Trapper target may rival the nearby Hawkeye zone [1][3]. Company Summary - Saga Metals is one of the few exploration companies in Canada focusing on critical metals such as titanium and vanadium, with no existing vanadium mines in the country [3]. - The company has raised approximately $6 million to support its drilling activities at the Trapper site [7]. Drilling Results - Highlight hole R-0009 returned 296 metres grading 39.75% iron oxide, 7.46% titanium oxide (TiO₂), and 0.25% vanadium oxide (V₂O₅) from a depth of 2.5 metres, including 63 metres at 44% iron oxide, 9% TiO₂, and 0.25% V₂O₅ [2][6]. - Another significant hole, R-0008, yielded 269.36 metres at 36.21% iron oxide, 6.57% TiO₂, and 0.244% V₂O₅ from 3.4 metres depth, with notable sections grading 45.63% iron oxide and 8.4% TiO₂ [6]. - The iron grades from the Trapper results are reported to be 124% higher than the best hole assays at Hawkeye, with titanium grades 105% higher and vanadium content 37% higher [6]. Market Context - The demand for titanium in the aerospace sector is projected to reach 1.6 million tonnes by 2044, with significant supply controlled by Russia and China [4]. - Saga's ongoing 15,000-metre drilling program at Trapper aims to support an indicated resource estimate to be released later this year [4]. Stock Performance - Following the announcement of drilling results, Saga's shares increased by 15% to C$0.59, valuing the company at C$41.9 million, with a 12-month trading range of C$0.20 to C$0.66 [5].