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- Akora Resources (AKO) has received the first assay results from its Bekisopa Iron Ore Project in Madagascar
- The company completed a 12-hole diamond drilling program in December last year that aimed to confirm the extent of the iron mineralisation
- Up to 95.7 per cent iron was returned and the results confirm a near-surface high-grade iron target that spans a length of more than four kilometres
- Akora’s next phase of drilling has been designed to deliver an initial resource estimate which is expected to be released before the end of the year
- Shares in Akora are up 1.14 per cent on the market this morning and are trading at 44.5 cents
Akora Resources (AKO) has received the first assay results from its Bekisopa Iron Ore Project in Madagascar.
The company completed a 12-hole diamond drilling program in December last year that aimed to confirm the extent of the iron mineralisation.
Results have been received for eight of the 12 holes with work completed by ALS Laboratories in Perth and Ireland.
Best results include 6.9 metres at 64.7 per cent iron, 4.7 metres at 61.4 per cent iron and 70.5 metres at 44.1 per cent iron.
Crushing and testwork also yielded up to 95.7 per cent iron.
These results are better than expected and confirm a near-surface, high-grade iron target that spans more than four kilometres in strike.
Additionally, the work confirmed the presence of massive to semi-massive magnetite-hematite which continues at depth.
“We could not be happier with and excited by these first eight drill hole results. They confirm previous geological interpretation and historic exploration results and show both excellent grade and scale of the iron mineralised system,” Managing Director Paul Bibby said.
“Results also indicate the iron ore mineralisation stretches beyond the tested four-kilometre strike length, at depth and width each indicating the resource potential of the structure is extremely good,” he added.
Akora’s next phase of drilling has been designed to deliver an initial resource estimate which is expected to be released before the end of the year.
Shares in Akora are up 1.14 per cent on the market this morning and are trading at 44.5 cents at 10:40 am AEST.
