Explorer SAGA Metals has acquired a 100% interest in the Garneau titanium project in Quebec from diversified major Rio Tinto, securing a prospective asset in one of the world’s premier ilmenite districts.

The Garneau project comprises 120 claims covering about 6 450 ha near Havre-Saint-Pierre, within the Havre-Saint-Pierre anorthosite complex, which hosts Rio Tinto’s Lac Tio operation.

The acquisition follows earlier exploration by Rio Tinto Exploration Canada, which advanced the project to a drill-ready stage, defining a large geophysical anomaly and identifying high-grade ilmenite mineralisation.

Grab sampling from a massive ilmenite-rich boulder returned grades of 65.1% iron oxide, 32.4% titanium oxide and 2 260 parts per million vanadium, supporting the project’s potential as a significant iron-titanium system.

SAGA said the project lay about 120 km from the deepwater port of Havre-Saint-Pierre and about 80 km from the Lac Tio mine, with access improved by a recently completed Hydro-Québec road located within 4.5 km of the property.

Chief geological officer Michael Garagan said the acquisition marked a “significant strategic advancement” for the company.

“We have secured a highly prospective titanium asset in Quebec’s premier ilmenite district, located in the same anorthosite complex as Rio Tinto’s world-class Lac Tio operation,” he said.

He added that the project’s geophysical signature and high-grade sampling results provided a compelling basis for further exploration, with similarities noted to the Lac Tio deposit.

The Garneau target is defined by a large, ovoid-shaped magnetic anomaly measuring about 4.5 km by 7.5 km, interpreted as a potential host to hemo-ilmenite mineralisation. In the region, such negative magnetic responses are associated with large titanium-rich ore bodies.

However, the project remains at an early stage, with no drilling completed to date. Rio Tinto’s previous work recommended drill testing to determine the source and continuity of the anomaly and to assess its economic potential.

SAGA said future exploration would focus on testing the anomaly and confirming whether the high-grade boulder is indicative of a larger mineralised system at depth.

The company noted that the broader Havre-Saint-Pierre district benefited from established infrastructure, including rail and port facilities linked to existing mining operations, as well as access to low-carbon hydroelectric power from the Romaine complex.

Under the terms of the transaction, SAGA granted Rio Tinto a 2% net smelter return royalty on the project. The acquisition was completed in lieu of Rio Tinto funding exploration expenditure on SAGA’s legacy lithium project, with the parties also terminating their prior joint venture agreement.