Madagascar-focused Akora Resources (ASX: AKO) has started mobilising drilling and support equipment to kick off a 4,000m diamond drilling program at its flagship Bekisopa iron ore project on the East African island nation.
Drilling is anticipated to begin in a week’s time with the explorer aiming to deliver a maiden JORC resource by year end.
The party mobilising to site includes contractors to establish the camp site and prepare drill pads, and consultants to conduct geological, safety and community engagement activities.
Although founded in 2009, Akora just listed on the ASX in December following an oversubscribed initial public offering that raised $5 million. The funds were planned to be used for this resource definition drilling program at Bekisopa, along with further ground magnetic surveys to test mineral extension on tenements to the southwest of the main project.
“We continue the timeline outlined at listing with this substantial drilling campaign commencing after the annual wet season access restrictions and the review of the 2020 drilling program results,” the company stated in today’s announcement.
Drilling plan to expand on 2020 results
Akora’s 2021 drilling program is designed to extend and confirm iron mineralised zones along strike and depth, focusing on areas at the northern and southern limits of Bekisopa’s main 6km strike.
In the north, drilling will target a zone of high magnetic intensity and an encouraging drill intercept from the 2020 campaign, at 200m line spacing to a depth of around 250m below surface.
In the south, where continuous iron mineralisation appears to dip much more shallowly, 200m line spaced drilling will target mineralisation to a depth of about 150m below surface.
According to Akora, the two drill grids were selected to confirm the continuity of the known iron mineralisation in these two zones and to predominately confirm the known mineralisation to the west and at depth.
“These two drilling grids will only confirm the extent of the iron mineralisation along some 30% of the 6km strike, therefore, depending on these drill results the potential for a larger iron resource after further drilling is considerable,” the company said.