Akora Resources completes 50% of maiden drilling program at Satrokala iron ore project

Akora Resources (ASX: AKO) has completed half of a maiden drilling program at its Satrokala iron ore project in Madagascar to test a strong magnetic anomaly along 10 kilometres of strike.

The company said the first five sighter exploratory holes appear to have intercepted mineralisation, with the drill core showing similar visible signs to the mineralogy of the nearby and more advanced Bekisopa iron ore project, albeit with comparably lower magnetic susceptibility readings.

The remaining five holes will be drilled 500 metres to the south once the geology, grade and mineralogy of the drill core is better understood.

Sampling assays

Drilling at Satrokala follows positive assays from a surface rock sampling program in 2022 and a follow-up ground magnetic survey last year.

Managing director Paul Bibby said the company was pleased with the results so far.

“The drill core looks to contain fine and coarse disseminated mineralisation in intercepted sections and to depths of up to 100m,” he said.

“We are now awaiting assays to carry out further field work in order to gain a greater understanding of the geology, prior to future drilling.”

Strong anomaly

Akora identified a strong and continuous magnetic anomaly at Satrokala in April, believed to be 66% longer than the high-grade Bekisopa project located 40km to the north-east.

It was identified after a magnetic survey in November across 33% of a potential 30km of prospective iron mineralisation previously confirmed in the area.

Up to eight magnetic units have since been modelled at Satrokala along the strike of the identified anomaly.

Exploration program

The Satrokala exploration plan comprises ten 100m-deep holes – four of which are oriented at a dip of 50 degrees either to the east or west – to drill into the magnetic anomaly.

One hole was drilled vertically at 90 degrees into a wider and steeper-dipping anomaly to test the depth and continuity of the potential mineralisation.

Each drill hole is believed to have shown a minimal weathered zone from the ground magnetic intensity readings and then wide intercepts of reasonably continuous disseminated mineralisation.

Field measurements

Compared to similar Bekisopa core sections, field portable magnetic susceptibility measurements at Satrokala were lower than expected for the degree of apparent mineralisation.

This could imply that minerals other than the highly-magnetic magnetite may be present.

Akora also observed the less magnetic iron sulphides of pyrite and pyrrhotite in some sections of the drill core.