SAGA Metals starts first drilling program at the Double Mer uranium project

SAGA Metals has announced the upcoming exploration of its Double Mer Uranium Project in east-central Labrador. The extensive area of 25,600 hectares is located approximately 90 kilometers northeast of Happy Valley-Goose Bay. In the next field season of 2024, SAGA plans to expand uranium mineralizations along an 18-kilometer corridor based on historical exploration data. The company is confident about the prospects of the project and has developed a more precise understanding of the target zones through careful data analysis, particularly the Luivik Zone, where drilling will soon commence. The Double Mer Uranium Project is seen by SAGA as a promising addition to Labrador's central mineral belt, which already hosts significant uranium projects like Paladin Energy's Michelin and Atha Energy's CMB discovery. Encouraged by surface samples and geophysical data, SAGA intends to confirm and delineate the existing uranium deposits in the Luivik Zone through drilling programs between 1,500 and 2,500 meters. Michael Garagan, CGO and director of SAGA Metals, describes the venture as an important milestone that can now be implemented following the recent completion of the second tranche of the initial public offering. The logistically advantageous location of the project near the company's own camp supports the program's start in the winter months. Additionally, SAGA Metals recently expanded its portfolio by fully acquiring the Amirault Lithium property, which is located next to Rio Tinto's leased Legacy Lithium Project in Canada.