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Yahoo
2 days ago
- Business
- Yahoo
Bullish Abasca Resources Insider Buying Worth CA$6.06m Yet To Pay Off
Insiders who acquired CA$6.06m worth of Abasca Resources Inc.'s (CVE:ABA) stock at an average price of CA$0.16 in the past 12 months may be dismayed by the recent 23% price decline. Insiders invest with the hopes of seeing their money grow in value over time. However, as a result of recent losses, their initial investment is now only worth CA$4.57m, which is not what they expected. While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. In fact, the recent purchase by CEO, President & Director Dawn Zhou was not their only acquisition of Abasca Resources shares this year. Earlier in the year, they paid CA$0.16 per share in a CA$2.4m purchase. That means that an insider was happy to buy shares at above the current price of CA$0.12. It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels. While Abasca Resources insiders bought shares during the last year, they didn't sell. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! View our latest analysis for Abasca Resources Abasca Resources is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket. Over the last quarter, Abasca Resources insiders have spent a meaningful amount on shares. In total, insiders bought CA$1.6m worth of shares in that time, and we didn't record any sales whatsoever. That shows some optimism about the company's future. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Abasca Resources insiders own about CA$10m worth of shares (which is 67% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders. It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Abasca Resources. Looks promising! While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. At Simply Wall St, we've found that Abasca Resources has 4 warning signs (3 don't sit too well with us!) that deserve your attention before going any further with your analysis. But note: Abasca Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
30-05-2025
- Business
- Associated Press
Abasca Resources Files NI 43-101 Technical Report on its Loki Flake Graphite Deposit Confirming Initial Resource Estimate
SASKATOON, SK / ACCESS Newswire / May 30, 2025 / Abasca Resources Inc. ('Abasca' or the 'Company') (TSXV:ABA) is pleased to announce it has filed an independent technical report (the 'Report') on SEDAR+. The Report, prepared in accordance with National Instrument 43-101 (NI 43-101), supports the initial mineral resource estimate (the 'MRE') for the Loki Flake Graphite Deposit (the 'Loki Deposit') at its 100%-owned Key Lake South Project (the 'Project') in northern Saskatchewan, Canada (Figure 1). The graphite MRE (Figure 2) validates the Company's belief in the Loki Deposit's significant development potential. Mineral Resource Highlights The MRE, with an effective date of April 10, 2025, was prepared following the CIM Definition Standards for Mineral Resources and Reserves (May 2014). It primarily incorporates results from the 2024 summer drill program, which included 20 holes totaling 5,499 m, as well as re-sampled holes from 2016 drill cores (Figure 3, Table1). The 2024 drilling aimed to establish a mineral resource and lay the groundwork for further expansion in future exploration campaigns, including the Company's recent 2025 winter drill program. The Loki Deposit remains open at depth and along strike. Growing electric vehicle sales and activity in the energy storage sectors have significantly increased demand for graphite, in addition to its ongoing traditional industrial applications. Graphite is designated as a critical mineral that is vital for economic stability in both Canada and the United States of America. It is also one of six essential minerals in the Canadian supply chain. Dawn Zhou, President and CEO of Abasca, commented 'We are strongly encouraged by the exploration results at the Loki Deposit. The Company looks forward to continuing to demonstrate its potential for shareholder value and to contribute to Saskatchewan's Critical Minerals Strategy.' 'We are pleased with the exploration progress and excited to keep advancing the Project. The Key Lake South Project has a lot of potential to still unlock with many open prospective corridors waiting to be tested.' said Brian McEwan, Vice-President of Exploration. Table 1: Pit-constrained inferred mineral resource estimate of the Loki Flake Graphite Deposit. Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an independent laboratory accredited under ISO/IEC 17025:2017, for preparation and ICP-MS multi-element analysis, boron by fusion as well as total graphite content (% Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance / quality control practices and included the insertion of blanks, standard reference materials, and repeats into the sample stream at regular intervals. Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones. The full technical report dated May 29, 2025, with an effective date of April 10, 2024, is titled 'Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada'. The report was prepared for Abasca Resources Inc. by Understood Mineral Resources (UMR), and can be found under the Company's issuer profile at SEDAR+ ( ) and on the Company's website ( ). The Company also announced that the second and final tranche of its private placement, previously announced on April 22, 2025, is expected to close in the first week of June 2025. For more information on the Loki Flake Graphite Deposit and an overview of the Key Lake South Project, please visit the Company's website at Qualified Person The technical information in this news release has been reviewed and approved by Brian McEwan, a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McEwan is the Vice-President of Exploration at Abasca. The mineral resource estimate presented in this news release was completed by Matthew Batty, a Qualified Person as defined under NI 43-101. Mr. Batty is a Geostatistician and the owner of Understood Mineral Resources Ltd. About Abasca Resources Inc. Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977-hectare exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current Key Lake mill. The project possesses geological similarities and along strike of past Key Lake Mine with prospective conductors of over 50 km for potential uranium mineralization. KLS is also host to the Loki Flake Graphite Deposit comprising a total inferred resource of 11.31 Mt at 7.65 % Cg. Please refer to the Company's news release dated April 15, 2025 for further information about the resource estimate. On behalf of Abasca Resources Inc. Dawn Zhou, CPA President, CEO and Director For more information visit the Company's website at or contact: Abasca Resources Inc. Email: [email protected] Telephone: +1 (306) 933 4261 Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This press release may contain certain forward-looking information and statements ('forward-looking information') within the meaning of applicable Canadian securities legislation that are not based on historical fact, including without limitation statements containing the words 'believes', 'anticipates', 'plans', 'intends', 'will', 'should', 'expects', 'continue', 'estimate', 'forecasts' and other similar expressions. Forward-looking information reflects management's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the initial mineral resource estimate; the potential for resource expansion and upgrading; the positioning of Abasca to potentially become a major contributor to North America's secure supply chain of graphite; the derisking of the Loki Deposit for development and the creation of shareholder value; the continued delineation of the deposit; and the movement of the Project into next stages. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Abasca undertakes no obligation to comment on analyses, expectations, or statements made by third-parties in respect of Abasca, its securities, or financial or operating results (as applicable). Although Abasca believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca's control, including the impact of general business and economic conditions; risks related the exploration activities to be conducted on KLS, including risks related to government and environmental regulation; actual results of exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that become available or are pursued; title, permit or license disputes related to KLS; litigation; fluctuations in interest rates; and other factors. In addition, the forward-looking information is based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about the availability of qualified employees and contractors for the Company's operations and the availability of equipment. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. SOURCE: Abasca Resources Inc. press release
Globe and Mail
03-03-2025
- Business
- Globe and Mail
Abasca Resources Releases Graphite Intersection Assays at its Loki Flake Graphite Zone Including 60 m at 9.09 % Cg.
SASKATOON, SK / ACCESS Newswire / March 3, 2025 / Abasca Resources Inc. ("Abasca" or the "Company") (TSX V:ABA) is pleased to release assay results of the remaining fourteen drillholes at its Loki Flake Graphite Zone (Loki Zone) from its 2024 summer exploration program at its 100%-owned Key Lake South (KLS) Project (Figure 1; For the assay results of the first six drillholes, see the Company's news release dated November 27, 2024). The twenty drillholes totaling 5,499 m were designed at a 100 m x 100 m grid spacing to delineate a 600 m section of the Loki Zone. The Loki Zone remains open along strike and at depth. The 2025 winter drill program is underway to continue the delineation of this emerging 2 km graphite zone (Figure 2). Locations and orientations of drillholes included in this release are listed in Table 1 and their assay results are shown in Table 2. Assay Highlights "The assay data, consistent with on-site drill core logs, confirm our geological interpretation of the Loki Zone. Abasca has provided these data to Understood Mineral Resources Ltd. (UMR), the independent mineral resource consulting firm engaged to complete an initial flake graphite resource estimate for the Loki Zone. Abasca is encouraged by the progress of the KLS project and remains dedicated to creating shareholder value and supporting Saskatchewan's strategy to double the production of critical minerals in the province," stated Dawn Zhou, President and CEO. Loki Flake Graphite Zone - 2024 Summer Assays The 2024 summer drill program included 20 holes, totaling 5,499 m, that were drilled at the Loki Zone as part of an initial delineation program. All drillholes intersected graphite mineralization which was encountered at the overburden-basement contact and dips toward the southwest (Figures 3 - 7). The graphite mineralization is hosted in metapelitic rocks of the Wollaston Domain along a northwest-trending fault zone. Pegmatite and local calc-silicate rocks are observed in the hanging wall interlayered with the metapelitic gneiss and also contain local graphite mineralization. Brian McEwan, Vice-President of Exploration commented "We continue to be excited about this new emerging graphite zone. The results are consistent with our observations, and we are looking forward to extending the zone by further delineation of the Loki Flake Graphite Zone this year." Results from the remaining 2024 exploration and resampling program are pending, as well as metallurgical testing of samples from KLS-24-052. Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multi-element analysis, boron by fusion as well as graphite content (% Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance / quality control practices and included the insertion of blanks, standard reference materials, and repeats into the sample stream at regular intervals. Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones. For more information on the Loki Flake Graphite Zone and an overview of the Key Lake South Project, please visit the Company's website at Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Zone and other exploration target areas. Figure 2: Map of the area around the Loki Flake Graphite Zone area showing the 2016 and 2024 drilling and 2025 winter drilling areas. Drillholes KLS-24-042 and KLS-046 intersected a new prospective graphite zone northeast of the Loki Flake Graphite Zone. Yellow outline: Cross-sections A through E, included in this release. Figure 3: Cross-Section "A" through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. *Assays pending and not included in this release. Assays shown from KLS-24-026, KLS-24-027, and KLS-24-028 were previously released on November 27, 2024. Figure 4: Cross-Section "B" through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. Figure 5: Cross-Section "C" through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. Figure 6: Cross-Section "D" through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. Figure 7: Cross-Section "E" through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. *No assays available. Refer to Figure 2 for location reference. Table 1: Locations and orientations of drillholes included in this release. Drillhole ID Easting Northing Elevation Azimuth Inclination Total Length KLS-24-032 445266 6330455 553 35 -60 210 KLS-24-033 445211 6330371 552 35 -60 300 KLS-24-035 445152 6330290 552 35 -60 381 KLS-24-037 445570 6330360 558 35 -60 204 KLS-24-039 445513 6330281 554 35 -60 270 KLS-24-041 445460 6330201 557 35 -60 312 KLS-24-043 445649 6330307 555 35 -60 171 KLS-24-044 445593 6330224 557 35 -60 276 KLS-24-045 445538 6330142 558 35 -60 339 KLS-24-047 445478 6330061 562 35 -60 398 KLS-24-049 445729 6330245 555 35 -60 168 KLS-24-050 445673 6330164 557 35 -60 240 KLS-24-051 445619 6330083 557 35 -60 312 KLS-24-052 445434 6330338 554 35 -60 222 Table 2: Drillholes and their composited graphite intersections through the Loki Flake Graphite Zone. All lengths are as measured downhole and do not represent true thickness. Composite intervals are calculated using a 3.0 % Cg cut-off and may include a maximum of 2.0 m internal dilution. Drillhole ID From To Length Cg % S % KLS-24-032 111.50 149.20 37.70 7.27 0.91 112.00 118.00 6.00 14.48 Including 126.00 127.00 1.00 12.35 130.50 131.00 0.50 12.40 131.50 133.00 1.50 11.07 143.50 144.50 1.00 10.65 145.00 145.50 0.50 11.60 KLS-24-033 169.20 171.70 2.50 2.38 0.55 195.50 213.50 18.00 7.06 1.27 Including 203.50 204.00 0.50 11.30 206.00 207.00 1.00 10.80 208.00 210.50 2.50 12.42 216.00 235.50 19.50 7.65 1.10 Including 216.00 218.00 2.00 12.35 220.00 220.50 0.50 10.30 225.00 225.50 0.50 11.60 226.00 226.50 0.50 11.00 227.00 228.50 1.50 12.50 KLS-24-035 245.00 256.00 11.00 2.78 0.76 287.65 290.00 2.35 8.15 2.62 322.50 323.00 0.50 12.00 1.02 326.00 340.00 14.00 5.09 0.76 KLS-24-037 83.50 121.50 38.00 8.48 1.07 Including 84.00 91.50 7.50 14.55 103.50 106.50 3.00 17.07 108.00 108.50 0.50 11.30 118.50 119.00 0.50 10.50 KLS-24-039 162.50 199.50 37.00 7.60 1.26 Including 163.00 164.00 1.00 13.65 165.00 166.00 1.00 11.15 166.50 169.00 2.50 12.60 171.00 172.50 1.50 12.90 173.00 174.50 1.50 13.63 179.00 180.00 1.00 13.95 195.00 196.50 1.50 12.33 KLS-24-041 207.00 210.00 3.00 4.25 1.66 255.50 284.00 28.50 7.54 1.43 Including 255.50 256.50 1.00 12.55 257.00 261.00 4.00 15.60 262.00 263.50 1.50 15.07 274.50 275.00 0.50 11.00 279.00 279.50 0.50 11.40 KLS-24-043 60.00 120.00 60.00 9.09 1.27 Including 64.00 71.50 7.50 12.91 72.00 73.00 1.00 13.20 74.00 75.00 1.00 14.00 75.50 76.50 1.00 12.35 79.00 80.50 1.50 12.40 81.50 82.50 1.00 12.40 84.50 85.00 0.50 13.10 85.50 86.50 1.00 14.40 87.50 89.00 1.50 10.83 90.00 90.50 0.50 13.00 91.00 93.50 2.50 11.34 94.00 97.50 3.50 13.06 98.50 100.00 1.50 12.93 100.50 101.50 1.00 21.05 108.00 109.00 1.00 14.60 129.00 130.00 1.00 4.54 0.02 KLS-24-044 141.50 142.00 0.50 3.57 0.61 163.00 206.50 43.50 8.65 1.47 Including 163.00 164.00 1.00 12.65 164.50 170.00 5.50 12.73 170.50 173.50 3.00 13.10 174.00 179.50 5.50 14.38 182.00 182.50 0.50 11.60 184.00 185.00 1.00 14.20 191.00 192.00 1.00 12.80 KLS-24-045 234.50 283.50 49.00 8.81 1.62 Including 234.50 235.50 1.00 13.30 236.50 237.00 0.50 10.10 237.50 239.00 1.50 14.57 241.00 241.50 0.50 12.40 243.00 247.50 4.50 14.37 249.50 250.00 0.50 13.90 251.00 252.50 1.50 17.27 254.50 255.00 0.50 11.80 256.00 257.00 1.00 10.30 261.50 264.50 3.00 16.03 265.50 266.00 0.50 11.30 266.50 267.00 0.50 16.10 270.00 271.50 1.50 11.80 286.50 287.00 0.50 7.69 0.04 KLS-24-047 330.50 367.00 36.50 5.94 1.06 Including 331.00 334.00 3.00 13.67 336.00 336.50 0.50 10.20 353.50 355.50 2.00 12.80 KLS-24-049 82.00 126.00 44.00 9.34 1.41 Including 82.50 84.50 2.00 13.35 85.00 85.50 0.50 10.80 86.50 87.00 0.50 10.20 89.00 90.00 1.00 11.65 91.00 93.00 2.00 11.75 93.50 97.50 4.00 13.76 98.00 107.00 9.00 13.57 108.00 109.50 1.50 14.20 110.00 111.00 1.00 13.50 125.00 125.50 0.50 10.50 KLS-24-050 146.00 179.50 33.50 10.10 1.73 Including 146.50 147.00 0.50 11.60 154.00 159.50 5.50 14.62 160.00 162.50 2.50 12.42 163.00 164.00 1.00 11.80 164.50 168.00 3.50 12.83 168.50 174.50 6.00 12.78 193.00 195.00 2.00 5.42 0.01 KLS-24-051 220.00 242.00 22.00 8.28 1.53 Including 224.00 226.00 2.00 13.60 226.50 228.00 1.50 11.78 228.50 230.00 1.50 13.93 231.00 233.00 2.00 12.20 233.50 234.00 0.50 10.50 236.00 236.50 0.50 10.40 237.00 237.50 0.50 10.50 KLS-24-052 114.50 115.50 1.00 3.38 0.85 146.00 178.00 32.00 7.31 1.89 Including 149.00 149.50 0.50 10.60 150.00 153.00 3.00 14.20 153.50 154.00 0.50 11.88 154.50 155.00 0.50 13.47 156.00 157.00 1.00 12.90 158.50 159.00 0.50 10.38 161.50 162.00 0.50 10.50 171.50 173.50 2.00 11.38 177.50 178.00 0.50 11.57 Qualified Person The technical information in this news release has been reviewed and approved by Brian McEwan, a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McEwan is the Vice-President of Exploration at Abasca. About Abasca Resources Inc. Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977-hectare exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current Key Lake mill. The project hosts the Loki Flake Graphite Zone. On behalf of Abasca Resources Inc. Dawn Zhou, CPA, CGA President, CEO and Director For more information visit the Company's website at or contact: Abasca Resources Inc. Email: info@ Telephone: +1 (306) 933 4261 Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking information reflects management's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information contained in this press release includes, but is not limited to, statements relating to a follow up exploration program at the Loki Flake Graphite Zone and the prospect of extending the zone. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Abasca undertakes no obligation to comment on analyses, expectations, or statements made by third-parties in respect of Abasca, its securities, or financial or operating results (as applicable). Although Abasca believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca's control, including the impact of general business and economic conditions; risks related the exploration activities to be conducted on KLS, including risks related to government and environmental regulation; actual results of exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that become available or are pursued; title, permit or license disputes related to KLS; litigation; fluctuations in interest rates; and other factors. In addition, the forward-looking information is based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about the availability of qualified employees and contractors for the Company's operations and the availability of equipment. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. View the original press release on ACCESS Newswire
Associated Press
03-03-2025
- Business
- Associated Press
Abasca Resources Releases Graphite Intersection Assays at its Loki Flake Graphite Zone Including 60 m at 9.09 % Cg.
SASKATOON, SK / ACCESS Newswire / March 3, 2025 / Abasca Resources Inc. ('Abasca' or the 'Company') (TSX V:ABA) is pleased to release assay results of the remaining fourteen drillholes at its Loki Flake Graphite Zone (Loki Zone) from its 2024 summer exploration program at its 100%-owned Key Lake South (KLS) Project (Figure 1; For the assay results of the first six drillholes, see the Company's news release dated November 27, 2024). The twenty drillholes totaling 5,499 m were designed at a 100 m x 100 m grid spacing to delineate a 600 m section of the Loki Zone. The Loki Zone remains open along strike and at depth. The 2025 winter drill program is underway to continue the delineation of this emerging 2 km graphite zone (Figure 2). Locations and orientations of drillholes included in this release are listed in Table 1 and their assay results are shown in Table 2. Assay Highlights 'The assay data, consistent with on-site drill core logs, confirm our geological interpretation of the Loki Zone. Abasca has provided these data to Understood Mineral Resources Ltd. (UMR), the independent mineral resource consulting firm engaged to complete an initial flake graphite resource estimate for the Loki Zone. Abasca is encouraged by the progress of the KLS project and remains dedicated to creating shareholder value and supporting Saskatchewan's strategy to double the production of critical minerals in the province,' stated Dawn Zhou, President and CEO. Loki Flake Graphite Zone - 2024 Summer Assays The 2024 summer drill program included 20 holes, totaling 5,499 m, that were drilled at the Loki Zone as part of an initial delineation program. All drillholes intersected graphite mineralization which was encountered at the overburden-basement contact and dips toward the southwest (Figures 3 - 7). The graphite mineralization is hosted in metapelitic rocks of the Wollaston Domain along a northwest-trending fault zone. Pegmatite and local calc-silicate rocks are observed in the hanging wall interlayered with the metapelitic gneiss and also contain local graphite mineralization. Brian McEwan, Vice-President of Exploration commented 'We continue to be excited about this new emerging graphite zone. The results are consistent with our observations, and we are looking forward to extending the zone by further delineation of the Loki Flake Graphite Zone this year.' Results from the remaining 2024 exploration and resampling program are pending, as well as metallurgical testing of samples from KLS-24-052. Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multi-element analysis, boron by fusion as well as graphite content (% Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance / quality control practices and included the insertion of blanks, standard reference materials, and repeats into the sample stream at regular intervals. Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones. For more information on the Loki Flake Graphite Zone and an overview of the Key Lake South Project, please visit the Company's website at Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Zone and other exploration target areas. Figure 2: Map of the area around the Loki Flake Graphite Zone area showing the 2016 and 2024 drilling and 2025 winter drilling areas. Drillholes KLS-24-042 and KLS-046 intersected a new prospective graphite zone northeast of the Loki Flake Graphite Zone. Yellow outline: Cross-sections A through E, included in this release. Figure 3: Cross-Section 'A' through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. *Assays pending and not included in this release. Assays shown from KLS-24-026, KLS-24-027, and KLS-24-028 were previously released on November 27, 2024. Figure 4: Cross-Section 'B' through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. Figure 5: Cross-Section 'C' through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. Figure 6: Cross-Section 'D' through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. Refer to Figure 2 for location reference. Figure 7: Cross-Section 'E' through the Loki Flake Graphite Zone showing the continuity and extent of the graphite mineralization. Lithologies are shown along the center of the drillhole trace and graphite assay results (Cg %) are shown overtop in the larger diameter traces. *No assays available. Refer to Figure 2 for location reference. Table 1: Locations and orientations of drillholes included in this release. Table 2: Drillholes and their composited graphite intersections through the Loki Flake Graphite Zone. All lengths are as measured downhole and do not represent true thickness. Composite intervals are calculated using a 3.0 % Cg cut-off and may include a maximum of 2.0 m internal dilution. Drillhole ID From To Length Cg % S % KLS-24-032 111.50 149.20 37.70 7.27 0.91 112.00 118.00 6.00 14.48 Including 126.00 127.00 1.00 12.35 130.50 131.00 0.50 12.40 131.50 133.00 1.50 11.07 143.50 144.50 1.00 10.65 145.00 145.50 0.50 11.60 KLS-24-033 169.20 171.70 2.50 2.38 0.55 195.50 213.50 18.00 7.06 1.27 Including 203.50 204.00 0.50 11.30 206.00 207.00 1.00 10.80 208.00 210.50 2.50 12.42 216.00 235.50 19.50 7.65 1.10 Including 216.00 218.00 2.00 12.35 220.00 220.50 0.50 10.30 225.00 225.50 0.50 11.60 226.00 226.50 0.50 11.00 227.00 228.50 1.50 12.50 KLS-24-035 245.00 256.00 11.00 2.78 0.76 287.65 290.00 2.35 8.15 2.62 322.50 323.00 0.50 12.00 1.02 326.00 340.00 14.00 5.09 0.76 KLS-24-037 83.50 121.50 38.00 8.48 1.07 Including 84.00 91.50 7.50 14.55 103.50 106.50 3.00 17.07 108.00 108.50 0.50 11.30 118.50 119.00 0.50 10.50 KLS-24-039 162.50 199.50 37.00 7.60 1.26 Including 163.00 164.00 1.00 13.65 165.00 166.00 1.00 11.15 166.50 169.00 2.50 12.60 171.00 172.50 1.50 12.90 173.00 174.50 1.50 13.63 179.00 180.00 1.00 13.95 195.00 196.50 1.50 12.33 KLS-24-041 207.00 210.00 3.00 4.25 1.66 255.50 284.00 28.50 7.54 1.43 Including 255.50 256.50 1.00 12.55 257.00 261.00 4.00 15.60 262.00 263.50 1.50 15.07 274.50 275.00 0.50 11.00 279.00 279.50 0.50 11.40 KLS-24-043 60.00 120.00 60.00 9.09 1.27 Including 64.00 71.50 7.50 12.91 72.00 73.00 1.00 13.20 74.00 75.00 1.00 14.00 75.50 76.50 1.00 12.35 79.00 80.50 1.50 12.40 81.50 82.50 1.00 12.40 84.50 85.00 0.50 13.10 85.50 86.50 1.00 14.40 87.50 89.00 1.50 10.83 90.00 90.50 0.50 13.00 91.00 93.50 2.50 11.34 94.00 97.50 3.50 13.06 98.50 100.00 1.50 12.93 100.50 101.50 1.00 21.05 108.00 109.00 1.00 14.60 129.00 130.00 1.00 4.54 0.02 KLS-24-044 141.50 142.00 0.50 3.57 0.61 163.00 206.50 43.50 8.65 1.47 Including 163.00 164.00 1.00 12.65 164.50 170.00 5.50 12.73 170.50 173.50 3.00 13.10 174.00 179.50 5.50 14.38 182.00 182.50 0.50 11.60 184.00 185.00 1.00 14.20 191.00 192.00 1.00 12.80 KLS-24-045 234.50 283.50 49.00 8.81 1.62 Including 234.50 235.50 1.00 13.30 236.50 237.00 0.50 10.10 237.50 239.00 1.50 14.57 241.00 241.50 0.50 12.40 243.00 247.50 4.50 14.37 249.50 250.00 0.50 13.90 251.00 252.50 1.50 17.27 254.50 255.00 0.50 11.80 256.00 257.00 1.00 10.30 261.50 264.50 3.00 16.03 265.50 266.00 0.50 11.30 266.50 267.00 0.50 16.10 270.00 271.50 1.50 11.80 286.50 287.00 0.50 7.69 0.04 KLS-24-047 330.50 367.00 36.50 5.94 1.06 Including 331.00 334.00 3.00 13.67 336.00 336.50 0.50 10.20 353.50 355.50 2.00 12.80 KLS-24-049 82.00 126.00 44.00 9.34 1.41 Including 82.50 84.50 2.00 13.35 85.00 85.50 0.50 10.80 86.50 87.00 0.50 10.20 89.00 90.00 1.00 11.65 91.00 93.00 2.00 11.75 93.50 97.50 4.00 13.76 98.00 107.00 9.00 13.57 108.00 109.50 1.50 14.20 110.00 111.00 1.00 13.50 125.00 125.50 0.50 10.50 KLS-24-050 146.00 179.50 33.50 10.10 1.73 Including 146.50 147.00 0.50 11.60 154.00 159.50 5.50 14.62 160.00 162.50 2.50 12.42 163.00 164.00 1.00 11.80 164.50 168.00 3.50 12.83 168.50 174.50 6.00 12.78 193.00 195.00 2.00 5.42 0.01 KLS-24-051 220.00 242.00 22.00 8.28 1.53 Including 224.00 226.00 2.00 13.60 226.50 228.00 1.50 11.78 228.50 230.00 1.50 13.93 231.00 233.00 2.00 12.20 233.50 234.00 0.50 10.50 236.00 236.50 0.50 10.40 237.00 237.50 0.50 10.50 KLS-24-052 114.50 115.50 1.00 3.38 0.85 146.00 178.00 32.00 7.31 1.89 Including 149.00 149.50 0.50 10.60 150.00 153.00 3.00 14.20 153.50 154.00 0.50 11.88 154.50 155.00 0.50 13.47 156.00 157.00 1.00 12.90 158.50 159.00 0.50 10.38 161.50 162.00 0.50 10.50 171.50 173.50 2.00 11.38 177.50 178.00 0.50 11.57 Qualified Person The technical information in this news release has been reviewed and approved by Brian McEwan, a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McEwan is the Vice-President of Exploration at Abasca. About Abasca Resources Inc. Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977-hectare exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current Key Lake mill. The project hosts the Loki Flake Graphite Zone. On behalf of Abasca Resources Inc. Dawn Zhou, CPA, CGA President, CEO and Director For more information visit the Company's website at or contact: Abasca Resources Inc. Telephone: +1 (306) 933 4261 Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This press release may contain certain forward-looking information and statements ('forward-looking information') within the meaning of applicable Canadian securities legislation that are not based on historical fact, including without limitation statements containing the words 'believes', 'anticipates', 'plans', 'intends', 'will', 'should', 'expects', 'continue', 'estimate', 'forecasts' and other similar expressions. Forward-looking information reflects management's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information contained in this press release includes, but is not limited to, statements relating to a follow up exploration program at the Loki Flake Graphite Zone and the prospect of extending the zone. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Abasca undertakes no obligation to comment on analyses, expectations, or statements made by third-parties in respect of Abasca, its securities, or financial or operating results (as applicable). Although Abasca believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca's control, including the impact of general business and economic conditions; risks related the exploration activities to be conducted on KLS, including risks related to government and environmental regulation; actual results of exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that become available or are pursued; title, permit or license disputes related to KLS; litigation; fluctuations in interest rates; and other factors. In addition, the forward-looking information is based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about the availability of qualified employees and contractors for the Company's operations and the availability of equipment. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
