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SAGA Edging Up As Provides Updates On RTEC's Field Progress at Optioned Legacy Lithium Project
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SAGA Edging Up As Provides Updates On RTEC's Field Progress at Optioned Legacy Lithium Project
Feb 25, 2025 8:00 AM

10:34 AM EST, 02/25/2025 (MT Newswires) -- SAGA Metals ( SAGMF ) , a North American exploration company focused on critical mineral discovery, was edging up on Tuesday after it provided 2024 field program updates on the Legacy Lithium Project in James Bay, Quebec, operated by unit of Rio Tinto (RIO.L).

In a statement the company noted RTEC started exploration activities in 2024, and conducted geological mapping campaigns, a satellite imagery survey, and an airborne magnetics survey on the optioned Legacy Lithium project, which spans 34,243 hectares and is subject to an Option to Joint Venture Agreement with RTEC. The work completed in 2024 was focused on prospecting for lithium mineralization hosted in pegmatites, assessing the potential for the discovery of new mineralized occurrences within the proliferous James Bay Pegmatite District.

The results of the 2024 reconnaissance campaign indicated that "numerous pegmatites which were localized and primarily hosted within biotite-rich paragneiss, were widely distributed across the property, displaying variability in grain size, mineralogy, and texture".

Among highlights, assay results from a pegmatite sample in the central-northeastern sector revealed an anomalous tantalum value (53ppm) and also yielded the highest beryllium value (83.4 ppm) and exhibited slightly elevated Rb/K ratios, a characteristic shared with nearby samples.

Looking forward, RTEC plans to continue its mapping, sampling, and prospecting survey based on past results and the airborne magnetics in 2025.

"New zones in the far west of the property on strike with Winsome Resources' Tilley project as well to the south of the Legacy property on strike with SAGA's contiguous Amirault property yielded interesting observational points noted for further follow up by RTEC during the 2025 field season," the company said in a statement.

Shares of the company were last seen up $0.010 or 3.2%, at $0.32 on the TSX Venture Exchange.

Price: 0.32, Change: +0.01, Percent Change: +3.23

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