- AKORA Resources (AKO) gets the first lot of assays from resource drilling at the Bekisopa project in Madagascar
- Sixteen of the 18 holes have intercepted high-grade iron mineralisation at surface and seven intercepted iron mineralisation at depth
- According to AKO, the high-grade weathered massive mineralisation has the potential for direct ship ore (DSO) mining activities as the benchmark grade is 62 per cent iron
- Company shares end the day 2.38 per cent in the green to trade at 21.5 cents
AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
The results account for the first 18 shallow diamond holes that were drilled to determine the eastern extent of iron mineralisation along strike and to the southwestern side of the southern magnetic anomaly.
Positively, 16 of these initial 18 holes intercepted iron mineralisation at surface and the results show a near-surface, high-grade massive iron zone and iron mineralisation at depth.
Seven of the holes also intercepted iron mineralisation at depth with one hole grading 43 per cent iron and finishing in iron mineralisation at 107 metres.
Results include 6.2 metres at 66.8 per cent iron, six metres at 67 per cent iron, 2.1 per cent silica and 2 per cent alumina, 15 metres at 65 per cent iron, 1.9 per cent silica and 1.5 per cent alumina.
Further, the high-grade intercepts are greater than the benchmark iron grade of 62 per cent which indicates potential for mining direct ship ore (DSO) lump and fines.
AKORA has completed 30 shallow holes and drilling is continuing to the north of the project to confirm depth potential beyond 100 metres. Drilling will then move back to the southern area to complete holes designed to extend the drill grid width and length.
Company shares were up 2.38 per cent in the green to trade at 21.5 cents at market close.