This week The Northern Miner flew in a helicopter to Saga Metals’ Wolverine project in the wilds of northeast Labrador, where there are no roads. Saga’s small but busy camp of geologists and drillers is exploring which rare earths sit just a few metres under the surface. Drilling from past owners suggests the site could host heavy rare earths, highly sought for their use in permanent magnets.
After closing its acquisition of previous Wolverine owner Catalyst Rare Metals in July, Saga has started a drill program of at least 3,000 metres that it hopes to complete before the snow accumulates and temperatures plummet. Saga’s new foray into rare earths puts it among a very small group of publicly-traded companies exploring for the critical minerals on the East Coast.
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