Abasca Resources Hires Understood (UMR) to Complete Graphite Resource Estimate
December 30, 2024 – Saskatoon, Saskatchewan: Abasca Resources Inc. (“Abasca” or the “Company”) (TSXV: ABA) is pleased to announce that it has engaged an independent mineral resource consulting firm, Understood Mineral Resources Ltd. (“UMR”), to complete a flake graphite resource estimate of its Loki Flake Graphite Zone (“Loki Zone”) on its 100%-owned Key Lake South (KLS) Project. UMR has extensive experience in modeling structurally-controlled resources that are supported and guided by geostatistical analyses.
Brian McEwan, Vice-President of Exploration stated “We are thrilled to have Understood Mineral Resources work on the flake graphite resource estimate at the Loki Zone. Their deterministic and probabilistic resource modeling approach will be a valued asset. The first lab results received from Abasca’s summer 2024 drill program have been very encouraging, and we are excited to continue our work on the Loki Zone in the upcoming 2025 winter drilling program.”
The Company is also pleased to announce the grant of 3,050,000 incentive stock options to its directors and officers (the “Options”), with each Option entitling the holder to purchase one common share of the Company for a period of 5 years at an exercise price of $0.15 per share.
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 abasca.ca.
Qualified Person
The technical information in this news release has been reviewed and approved by Brian McEwan, P.Geo, 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 Resources Inc. is a Canadian 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 100% owned 23,977- hectare uranium exploration project. KLS is located in the Athabasca Basin Region in northern Saskatchewan, Canada, approximately 15 km south of the former Key Lake mine and current Key Lake mill. The project also hosts the Loki Flake Graphite Zone (Loki Zone). Abasca is headquartered in Saskatoon, Canada and its shares are listed on the TSX Venture Exchange (TSXV: ABA).
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.
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