Abasca files technical report for Loki graphite deposit in Canada

Abasca Resources Inc. (TSXV:ABA) has filed an independent technical report containing a Preliminary Economic Assessment for the Loki Flake Graphite Deposit in Saskatchewan, Canada. Prepared by Tetra Tech Canada Inc., the report outlines a 2,750 tonnes-per-day open-pit mining and processing operation with a 19-year mine life, producing an average of 66,500 tonnes of graphite concentrate annually at 95% grade, totaling 1.2 million tonnes over the mine’s life.

The base case economics project cumulative after-tax free cash flow of approximately US$662 million with an internal rate of return of 16.7%. The mineral resource update reveals indicated resources of 6.99 million tonnes at 8.27% graphite content and inferred resources of 15.83 million tonnes at 6.93% graphite content. Abasca also announced a non-brokered private placement to raise up to $2.25 million to fund ongoing exploration programs at the Loki Deposit.

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