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National Post
24-04-2025
- Business
- National Post
Spanish Mountain Gold Reports Near Surface High Grade Gold Intercepts in the K
Article content The method offers a gold detection range from 0.015 parts per million (ppm – lower limit) to 10,000 ppm (upper limit). Quality control includes the use of reference materials and blanks, with all results reviewed by a competent person before reporting. Article content Spanish Mountain Gold implemented two QAQC methodologies to validate the accuracy of PhotonAssay TM results, both demonstrating good comparability: 1) comparative analysis of diverse mineralization styles using Total Au screen metallic methods with both FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) comprehensive testing of both sample aliquots and rejects using FAS-211 (AAS finish). Article content QAQC Testing typically can include the following spot checks: 1) Pulverizing tests to evaluate variability in sample preparation, 2) Cross-analysis at external laboratories using screen metallic method, and 3) Four-cycle radiation testing to identify and calibrate potential variability in gold results with variable radiation intensity. Article content To effectively manage the nugget effect on high-grade gold samples MSALABS tested samples to 'extinction' (CPA-Au1E method). This approach divides samples into multiple splits, analyzes each separately using PhotonAssay TM, and then calculates a weighted average of the results. By testing various portions of the sample independently and combining their values proportionally, this method provides significantly more representative gold values than traditional single-split analysis for samples with a large nugget effect. Article content Multi-Elemental Analysis Article content For the 2025 drilling campaign Spanish Mountain Gold used IMS-230 method to provide multi-element determination using a four-acid digestion followed by ICP-OES and ICP-MS analysis. Article content Key Process Steps: Article content Sample Preparation: Samples are dried and ground to specific criteria (85% passing 75 microns (μm) for rocks and drill core; 180μm for soils and sediments). A homogeneous 10-gram sample is required. Article content Digestion: Samples undergo sequential digestion with nitric, perchloric, hydrofluoric, and hydrochloric acids, followed by dilution with deionized water. Article content Analysis: The solution is analyzed via ICP-OES and ICP-MS for multi-element quantification. Article content Quality Control: The process includes reference materials, blanks, and duplicates, with corrections for spectral interferences and thorough review before final reporting. Article content Julian Manco, has verified the data disclosed in this news release. The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit™ software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, Mr. Manco, conducted a field inspection of the specific drill intervals mentioned in this release to directly observe the geological features and verified the nature of the results presented. Article content Qualified Person Article content Julian Manco, Director of Exploration with Spanish Mountain Gold, is the Qualified Person as defined under National Instrument 43-101 who has reviewed and has approved the contents of this news release. Article content About Spanish Mountain Gold Ltd. Article content Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. We are conducting an integrated Whittle Enterprise Optimization to identify the highest potential value-add improvements while increasing the understanding of the high-grade geologic controls and associated drill targets that could upgrade and expand the gold resource. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on and on the Company's website: Article content 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Article content Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Article content Certain of the statements and information in this press release constitute 'forward-looking information'. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects', 'anticipates', 'believes', 'plans', 'estimates', 'intends', 'targets', 'goals', 'forecasts', 'objectives', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information. 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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
