- Akora Resources (AKO) has received the final results from its Bekisopa Iron Ore Project in Madagascar
- The latest results confirm the previous interpretation of a broad, shallow westerly dipping iron mineralised zone with a true thickness of at least 45 metres and increasing to the west
- Chemical assays showed intercepts of 61.4 per cent iron across 25.2 metres, including 63.5 per cent iron across 13.6 metres
- Low intensity magnetic separation test work showed recoveries of up to 90.6 per cent iron and delivered product grades of up to 66.9 per cent
- The next 4000-metre drilling campaign is designed to deliver an initial JORC resource estimate expected by the end of this year
- Shares are trading higher on the back of the results, up 12.1 per cent at 37 cents apiece
Akora Resources (AKO) has received the final results from its Bekisopa Iron Ore Project in Madagascar.
The 12-hole diamond drilling program finished up in December last year, and the results from the first eight holes were reported earlier this month.
The latest results from the final four holes confirm the previous interpretation of a broad, shallow westerly dipping iron mineralised zone with a true thickness of at least 45 metres and increasing to the west.
Chemical assays showed continuous iron mineralisation intercepts from surface, with 25.2 metres at 61.4 per cent iron, including 13.6 metres at 63.5 per cent iron.
Results from mineral processing, low intensity magnetic separation testwork showed recoveries of up to 90.6 per cent iron and delivered product grades of up to 66.9 per cent.
Akora’s Managing Director, Paul Bibby said the results indicate significant potential for Bekisopa to be a high-grade iron ore project.
“The product grade of 66.9 per cent iron is outstanding along with the excellent iron recovery at 84 per cent. More importantly, the Bekisopa product results have been achieved after only minimal processing by crushing to 2 millimetres, followed by magnetic separation,” he explained.
Looking forward, the company has planned a 4000-metre drilling campaign to deliver an initial JORC resource estimate, which is expected by the end of this year.
The company is optimistic about the coming JORC resource estimate and remains committed to progressing Bekisopa to a significant high-grade, low-cost iron ore project.
Shares are trading higher on the back of the results, up 12.1 per cent at 37 cents apiece at 3:40pm AEST.