This is quoted from Saubier.com
"It's called a colloidal graphite, Lock-Ease is a hardware store version that a lot of guys swear by. There are other versions that vary by size of graphite particulate and what it's suspended in.
The gunsmith who does my rifles treats unfired new barrels with a alcohol suspended version that has very uniform and small particulates. The idea is that when the first shot is fired down a treated barrel the graphite left behind after the alcohol has evaporated will be forced under the pressure of the projectile into the microscopic cracks and fissure in the barrel metal. Under the same first firing in an untreated barrel carbon would be forced into those places instead. Graphite stays in those cracks and fissures just as the carbon would have even after thorough cleanings. Graphite is a lubricant, carbon is an abrasive, as in graphite good , carbon bad .
After initial firing and barrel break-in using the oil based version a guy just cleans after shooting as usual and the last step is to run a patch with oil based graphite in suspension down the barrel for rust prevention and as a prep for the next shot fired.
Clear as mud huh?
Bottom line is since using the stuff my cleaning time has been cut considerably. I use it in everything I shoot.
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This is one of the many many many posts that address lockease on that website. Hope this was ok to post. Would love if some of the guys that frequent here chime in.