SAGA Comparison to Oceanic Iron Ore (TSXV: FEO)
Saga Metals (TSXV: SAGA) reported an intercept this week at its Radar Critical Minerals Project of 470 m grading 36.72% Fe2O3, 5.40% TiO2, and 0.245% V2O5 in drill hole R-0072. This intercept was comparable in length to Central Park Tower in Manhattan, the world’s tallest residential building at 472.4 metres.
The drill hole ended in mineralization and included two high-grade intercepts of 69.2 m grading 51.03% Fe2O3, 8.55% TiO2, and 0.334% V2O5 (the 4th-highest-grade intercept drilled at Radar to date) and 66.8 m grading 50.06% Fe2O3, 8.07% TiO2, and 0.349% V2O5 (the 5th-highest-grade intercept drilled at Radar to date).
If you look at Oceanic Iron Ore (TSXV: FEO) in Northern Quebec, it rose from $0.14 per share on April 7, 2025, to a high of $1.15 per share on October 3, 2025, for a gain of 721.43% in six months after Frank Giustra bought out a Chinese investment fund’s stake in the company at $0.25 per share. FEO has 261.51 million shares outstanding, for a current market cap at $0.78 per share of CAD$203.98 million.
Oceanic Iron Ore’s Hopes Advance Project contains 1.388 billion tonnes of Measured & Indicated resources grading 32.1% Fe, plus another 222 million tonnes Inferred grading 32.5% Fe. For comparison with SAGA’s Radar Project, which reports iron grades as Fe2O3, Oceanic’s grades are equivalent to approximately 45.9% Fe2O3 and 46.5% Fe2O3, respectively.
For FEO’s Hopes Advance Project, iron ore concentrate will be the project’s only saleable mineral product.
For SAGA’s Radar Critical Minerals Project, the goal is to produce three different end-use products: iron, titanium, and vanadium… thereby creating three potential revenue streams from the same mineralized system. Importantly, iron could ultimately prove to be the least valuable of Radar’s three potential revenue streams.
According to SAGA’s CEO, metallurgical work completed to date has shown that the iron and vanadium report predominantly to the magnetite fraction, while approximately 90% of the titanium reports to the ilmenite fraction. This natural separation is important because SAGA’s objective is to recover all three commodities through an integrated processing flowsheet and ultimately produce three end-use products.
SAGA will potentially have two flagship mineral exploration projects. SAGA’s Wolverine Heavy Rare Earth Project in Labrador has an REE ash flow footprint of 26 sq km, and its maiden diamond drill program is taking place right now.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from SAGA of US$100,000 cash for a twelve-month marketing contract. This message is for informational and educational purposes only and does not provide investment advice.