Key facts
| Company | Abasca Resources (TSXV: ABA) |
|---|---|
| Commodity | Uranium |
| Location | Canada |
| Stage | Early exploration |
About Key Lake South
The Key Lake South Project (KLS) is located approximately 15 kilometres south of the Key Lake mill which processes ore from Cameco Corp.’s (TSX: CCO; NYSE: CCJ) McArthur River uranium mine. Provincial Highway 914, a north-south all-weather highway in Saskatchewan, crosses the project, providing ideal access. The project consists of 12 contiguous claims (23,977 hectares or approximately 240 sq. km) which were staked during 2011 to 2012 and have been held and explored by a private company (“SaskCo”) until the end of 2022. The project was then transferred to Abasca Resources Inc. by reverse takeover of a TSX Venture listed corporation and is 100%-owned.
News releases16 on file
Abasca Resources Closes Non-Brokered Private Placement of $3.2 Million
A $3.2 million non-brokered private placement has closed, comprising 20,000,000 flow-through units at $0.16 per FT Unit, each unit including one flow-through common share and one-half warrant exercisable at $0.20 for 24 months, expiring December 20, 2026. Red Cloud Securities received finder's fees of $72,000 in cash and 450,000 finder's warrants; securities are subject to a four-month hold expiri
FinancingAbasca Resources Provides Update on Summer Exploration Program at KLS Project and Restates Prior Results
Twenty-one drill holes totalling about 5,000 m on a 100 x 100 m grid at the Loki Zone of the Key Lake South Uranium Project in northern Saskatchewan all intersected graphite mineralization, with samples submitted to SRC Geoanalytical Laboratories and one hole selected for metallurgical evaluation. A further 7 holes totalling 3,593 m along the Mustang-Seager Trend and Loki Target area measured no s
Drill resultsAbasca Resources Closes Non-Brokered Private Placement of $3.65 Million
A $3.65 million non-brokered private placement has closed, comprising 21,875,000 flow-through units at $0.16 and 1,071,428 non-flow-through units at $0.14, each unit including one common share and one-half warrant exercisable at $0.20 until June 27, 2026. Securities are subject to a four-month hold expiring October 28, 2024, and no finders' fees were paid. Flow-through proceeds will fund explorati
FinancingAbasca Resources Commences its 2024 Summer Exploration at the KLS Project and Announces Non-Brokered Flow-Through Private Placement of up to $3.65 Million
A 2024 summer exploration program has begun at the Key Lake South Uranium Project (KLS) in northern Saskatchewan, focused on drill testing conductor corridors for uranium mineralization and defining flake graphite potential at the Loki Zone. Abasca Resources also announced a non-brokered private placement of up to $3.65 million, comprising up to 21,875,000 flow-through units at $0.16 and 1,071,428
Drill resultsAbasca Resources Continues to Focus on Uranium Exploration at its 100%-Owned KLS Project and to Evaluate Flake Graphite Potential at its Loki Zone
A 5,000 metre drill program is planned for 2024 at the 100%-owned, 23,977-hectare Key Lake South Uranium Project in northern Saskatchewan, testing the Mustang-Seager Lake conductor corridor and the Campbell and Zimmer target areas, following 10,135 m of drilling in 2023 that returned anomalous uranium up to 1,260 ppm U at Mustang. Re-analysis of 2016 drill pulps from the Loki Zone at Campbell retu
NewsAbasca Announces Change of Auditor
Manning Elliott LLP resigned as auditor of Abasca Resources, at the Company's request, effective September 18, 2023, and the Board appointed McGovern Hurley LLP as successor auditor. There were no reservations in the former auditor's reports for the two most recent financial years through the resignation date, and no reportable events under NI 51-102. Abasca owns the 23,977-hectare Key Lake South
CorporateAbasca Resources Closes Non-Brokered Flow-Through Private Placement
A $1,250,000 non-brokered private placement of 5,000,000 flow-through units at $0.25 per unit closed on July 28, 2023, with each unit including one flow-through common share and one-half warrant exercisable at $0.30 for 24 months, expiring July 28, 2025. Securities carry a four-month hold expiring November 29, 2023, and no finders' fees were paid. Proceeds will fund exploration at the 23,977-hecta
FinancingAbasca Resources Engages Red Cloud Securities and Closes the Non-Brokered Flow-Through Private Placement.
A $1,000,000 non-brokered private placement of 2,000,000 flow-through units at $0.50 per unit has closed, each unit comprising one flow-through common share and one-half warrant exercisable at $0.60 until June 21, 2025, with a four-month hold expiring October 22, 2023. A corporation controlled by director Dawn Zhou subscribed for the full offering; no finders' fees were paid. Proceeds will fund ex
FinancingAbasca Resources Announces Non-Brokered Flow-Through Private Placement of up to $1.25 Million and Carries Out Summer Drill Program at the Key Lake South Uranium Project.
A non-brokered private placement of up to 5,000,000 flow-through units at $0.25 per unit for gross proceeds of up to $1,250,000 has been launched, with each unit comprising one flow-through common share and half a warrant exercisable at $0.30 for 24 months. Proceeds will fund exploration at the Key Lake South Uranium Project in northern Saskatchewan. A summer drill program of approximately 5,000 m
FinancingAbasca Resources Announces Non-Brokered Flow-Through Private Placement of up to C$1.0 Million
A non-brokered private placement of up to 2,000,000 flow-through units at C$0.50 per unit for gross proceeds of up to C$1,000,000 has been launched. Each unit comprises one flow-through common share and one half warrant, with each whole warrant exercisable at C$0.60 for 24 months from closing. Proceeds will fund exploration at the 23,977-hectare Key Lake South Uranium Project in the Athabasca Basi
FinancingAbasca Resources Confirms Anomalous Uranium Intersections In Its 2023 Winter Drill Program on Key Lake South Uranium Project
Assays from Abasca Resources' 2023 winter drill program at the Mustang target on the 100%-owned, 23,977-hectare Key Lake South Uranium Project in Saskatchewan confirmed anomalous uranium in 9 of 11 drillholes over a cumulative core length of 13.85 m. Results include 10 cm at 1260 ppm U in KLS-23-004, 79 cm at 897 ppm U and 43 cm at 942 ppm U in KLS-23-006, and 50 cm at 1010 ppm U in KLS-23-009. Th
Drill resultsAbasca Resources Completes 2023 Winter Drill Program on Key Lake South Uranium Project, Intersecting Anomalous Radioactivity
Eleven holes totalling 4,959 metres were completed at the Mustang target area on the 100%-owned, 23,977-hectare Key Lake South Uranium Project in northern Saskatchewan, with anomalous radioactivity (≥300 cps) intersected over lengths of 0.15 to 4.35 metres in 8 holes, up to a range of <300–1700 cps. Drilling identified and confirmed multiple stacked graphitic fault zones, with hematite and clay al
Drill resultsAbasca Starts 5,000 Metre Drill Program On Key Lake South Uranium Project, Grants Stock Options
A 5,000 metre, 14-hole drill program has begun at the 100%-owned, 23,977-hectare Key Lake South Uranium Project in northern Saskatchewan, targeting the Mustang and Seager North areas; Saskatchewan granted exploration permits in December 2022 and a temporary work camp was completed in January 2023. Abasca also granted incentive stock options on up to 3,500,000 common shares at $0.50 for five years
Drill resultsAMV Capital Corporation to acquire Key Lake South Uranium Project pursuant to a reverse takeover
The asset purchase transaction with 101159623 Saskatchewan Ltd. closed on December 29, 2022, constituting a reverse takeover of AMV Capital Corporation, which changed its name to Abasca Resources Inc. and acquired 100% right, title and interest in the claims comprising the 23,977-hectare Key Lake South Uranium Project in the southeastern Athabasca Basin, Saskatchewan, for 25,639,288 common shares.
AcquisitionAMV Capital Corporation signs definitive agreement to acquire Key Lake South Uranium Project pursuant to a reverse takeover
AMV Capital Corporation has entered into an arm's length asset purchase agreement dated October 24, 2022 with 101159623 Saskatchewan Ltd. to acquire a 100% interest in the mineral claims comprising the Key Lake South Uranium Project in the southeastern Athabasca Basin Region, Saskatchewan, for 25,639,288 common shares, or 66.7% of AMV's post-closing, pre-financing shares. The concurrent financings
AcquisitionAMV Capital Corporation to acquire Key Lake South Uranium Project pursuant to a reverse takeover
A non-binding LOI dated September 13, 2022 will see AMV Capital Corporation acquire 100% of the Key Lake South Uranium Project (12 claims, 23,977 hectares) in Saskatchewan's southeastern Athabasca Basin from a private Saskatchewan company controlled by Dawn Zhou for 25,639,288 shares, or 66.7% of post-closing pre-financing shares, in a reverse takeover. Concurrent financings comprise a minimum CAD
Acquisition