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Abasca Resources Announces Completion of Winter Exploration Program and Arrangement of Non-Brokered Private Placement of up to $2.5 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Abasca Resources Inc.
[{"type":"text","content":"Abasca Resources Announces Completion of Winter Exploration Program and Arrangement of Non-Brokered Private Placement of up to $2.5 MillionNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES SASKATOON, SK / ACCESS Newswire / April 14, 2026 / Abasca Resources Inc. (\"Abasca\" or the \"Company\") (TSXV:ABA) is pleased to announce it has completed its Winter 2026 exploration program at the Company's 100%-owned Loki Flake Graphite Deposit (the \"Loki Deposit\") in northern Saskatchewan (see Figure 1) and that it has arranged a non-brokered private placement of up to $2.5 million.HighlightsCompleted 4,922 m of drilling at the 100%-owned Loki Flake Graphite Deposit, Saskatchewan4,517 m in 18 diamond drillholes405 m in 12 sonic drillholesProgram focused on:Extending the Loki Deposit to the southeast alongside geotechnical and hydrogeological workExploration drilling at the Thor ZoneLoki Deposit Expansion8 drillholes completed across two drill fencesSuccessfully extended the Loki Deposit by 200 m of strike-lengthStrike-length now delineated by 1.4 kilometres;2025 resource estimate had initial strike length of 600 metresThor Zone Exploration4 holes completed targeting the up-dip extension of previously identified graphite mineralizationConfirmed continuity of graphite mineralization similar to previous drilling, assays pendingAnnouncement of non-brokered private placement of up to $2.5 millionWinter Exploration ProgramA total of 4,922 m of drilling was completed - 4,517 m over 18 diamond drillholes and 405 m over 12 sonic drillholes. The drilling focused on three objectives: 1) continued extension of the Loki Deposit toward the southeast at 100 x 100 m grid-spacing, 2) geotechnical and hydrogeological drilling, and 3) exploration drilling at the Thor Zone.A total of 8 drillholes were completed over two fences to extend the delineation of the Loki Deposit by 200 m of strike-length (Figure 2 and Figure 3). The drilling was designed to verify the folded EM-conductor interpretation and support geotechnical work. Moderate graphite mineralization was intersected, and the zone remains open down-dip. Drillhole locations and assay results for these drillholes are shown in Tables 1 and 2, respectively.An additional 4 drillholes were completed at the Thor Zone which focused on testing the up-dip continu...