Abasca Increases Loki Flake Graphite Resource and Confirms Second Mineralized Trend at Thor Zone
Abasca upgrades resources and confirms the Thor Zone, advancing the PEA timeline despite tight cash runway constraints.
Abasca Resources Inc. announced an updated Mineral Resource Estimate (MRE) for its 100%-owned Loki Flake Graphite Deposit, increasing total contained graphite and upgrading a significant portion from Inferred to Indicated status. Under updated parameters using a 2.30% Cg cut-off, the company reported 6.99 Mt at 8.27% Cg in the Indicated category and 15.83 Mt at 6.93% Cg in the Inferred category. This update represents a 67% conversion of the prior Inferred Resource to Indicated status based on contained graphite.
The release also detailed assay results from the 2026 winter exploration program at the adjacent Thor Zone, highlighting high-grade graphite intersections that demonstrate continuity with the main Loki Deposit. Thor Zone drill results include four holes intersecting multiple zones up-dip of KLS-25-072, with notable intercepts including:
- 114.0 m at 3.91% Cg
- 101.80 m at 4.31% Cg
The updated MRE will be incorporated into the in-progress Preliminary Economic Assessment (PEA), which aims to advance the Loki Deposit toward a Feasibility stage. The company maintains that its "Fast-Track Roadmap to Production" remains on schedule.
Abasca Resources Inc. (ABA) released results on July 14, 2026, marking a logical progression in its exploration program that feeds directly into the upcoming Preliminary Economic Assessment (PEA). The company converted 67% of its Inferred resource to Indicated, a move that de-risks the geological model and provides a stronger foundation for economic studies, which typically require higher confidence classifications. Additionally, the confirmation of the Thor Zone as a second mineralized trend adds optionality and bolsters the project's critical mineral inventory profile in Saskatchewan.
This development represents an incremental step rather than a fundamental shift. The PEA has not yet been released, and no production timeline or offtake agreements have been announced. The news aligns with previous guidance regarding the PEA timeline and drilling objectives, and it does not alter the company's pre-revenue status or immediate capital requirements.
Abasca Resources Inc. (ABA) is an exploration-stage company focused on the Loki Flake Graphite Deposit. The project is located at the Key Lake South Project in northern Saskatchewan, approximately 15 km south of existing Key Lake mill infrastructure. The land package comprises 23,977 hectares in the Athabasca Basin, with access to provincial highway 914, grid power, and water resources. The project is in the early development stage, transitioning from resource definition to economic studies (PEA and PFS).