Business
Abasca Resources Provides Exploration Update at its Loki Flake Graphite Deposit and Granting Stock Option
SASKATOON, SK / ACCESS Newswire / December 16, 2025 / Abasca Resources Inc. ("Abasca" or the "...
About this update from Abasca Resources Inc.
[{"type":"text","content":"Abasca Resources Provides Exploration Update at its Loki Flake Graphite Deposit and Granting Stock OptionSASKATOON, SK / ACCESS Newswire / December 16, 2025 / Abasca Resources Inc. (\"Abasca\" or the \"Company\") (TSXV:ABA) is pleased to provide an update on the exploration activities at its 100%-owned Key Lake South (KLS) Project (Figure 1). Exploration in 2025 was comprised of two drill programs at the Loki Flake Graphite Deposit (\"Loki Deposit\") to support expansion and upgrading of resource estimates which the Company anticipates to complete in the first half of 2026. The deposit currently has a 11.31 Mt pit-constrained inferred flake graphite resource at 7.65 % Cg1 (the \"MRE\") which was released earlier this year with an effective date of April 10, 20251, derived principally from the results of the 2024 summer drill program, (Figure 2).\"Building on the favorable geological setting, the existing mineral resource base, and ongoing technical work - including the environmental baseline study, metallurgical testwork, geotechnical drilling, and initiation of open-pit mining design - Abasca is now turning its attention to preparing a Preliminary Economic Assessment (PEA) in mid-2026 and then transition to preparing a Pre-Feasibility Study (PFS) in late 2026. We believe these integrated efforts will accelerate the Loki Deposit's pre-development timeline, mitigate project risks, and enhance asset value. Furthermore, this work aligns with the critical mineral strategies of Saskatchewan and Canada, thereby reinforcing the North American graphite supply chain.\" stated Dawn Zhou, President and CEO.The winter 2025 program (see Company's press release dated November 12, 2025 for results) focused on expansion of the MRE toward the northwest and southeast, extending the strike-length of graphite mineralization at inferred-spaced drilling by 700 m. The summer 2025 program focused on in-fill drilling of the MRE and comprised 6,691 m over 35 holes (Figure 2 and 3), inclusive of the 1,103 m from the 10 geotechnical drillholes completed at the beginning of the summer (refer to the Company's release on September 8, 2025). Locations and orientations of drillholes of the in-fill program are listed in Table 1.The in-fill drilling at the Loki Deposit continued to provide strong graphite intersections like those seen in the 2024 drilling that ma...