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Abasca doubles Loki graphite resource in Saskatchewan ahead of PEA
The company updated the Loki deposit to include 6.99 million indicated tonnes grading 8.27% graphitic carbon, supporting a stronger preliminary economic assessment.
Abasca Resources said it has nearly doubled its Loki flake graphite resource in northern Saskatchewan and upgraded a large portion of the estimate ahead of a planned preliminary economic assessment. The update raises Loki to 6.99 million indicated tonnes grading 8.27% graphitic carbon, plus 15.83 million inferred tonnes grading 6.93% graphitic carbon, for a total contained-metal estimate of 580,000 tonnes of contained graphite from the indicated portion.
The company said the change reflects converting much of its earlier inferred resource into indicated, which it expects to give the PEA a “substantially stronger foundation.” Vice-President of Exploration and Development Brian McEwan also said the company’s fast-track path to production remains on schedule.
Abasca added that it is targeting completion of the PEA within months, with a prefeasibility study planned for late 2026, while environmental baseline work and other technical studies continue in parallel. It also outlined the project as an open pit near Highway 914, about 570 km north of Saskatoon and 15 km south of Cameco’s Key Lake mill.
In addition to Loki, Abasca reported drilling at the nearby Thor graphite zone, which it says lies parallel to the Loki deposit and could represent a second mineralized trend. The company cited multiple drill results, including 74.75 metres at 5.13% graphitic carbon from 117 metres depth in hole KLS-26-112 and 114 metres at 3.91% from 139 metres in hole KLS-26-115.