Akora Resources unveils resource estimate for two zones within Bekisopa iron ore project
Akora’s maiden resource for Bekisopa totals 84.5Mt at 67.6% iron.
Akora Resources (ASX: AKO) has unveiled a maiden resource estimate of 87.5 million tonnes for the northern and central zones of its flagship Bekisopa iron ore project in Madagascar.
The resource grade of 67.6% iron has exceeded the company’s initial expectations.
The product is expected to attract a market premium price as global steelmakers seek higher-grade, low impurity material to reduce their carbon emissions.
Managing director Paul Bibby said the resource estimate confirms the board’s decision to publicly list Akora two years ago and accelerate exploration.
“This result confirms that Bekisopa is a significant iron ore resource which could deliver high-grade fines and concentrates at relatively coarse sizings after a start-up focused on the high-grade outcrop and weathered zone iron ore,” he said.
Forecast resource
Akora originally forecast a 100Mt resource from the first 4,000m of drilled at the two prospects last year.
As work progressed, it decided to bring forward its exploration plans for 2022 to minimise costs and maximise the size of the initial resource.
The northern and central zones comprised 25 drill holes for 2,142m, from an overall total of 6,200m.
Akora said approximately 30% of the 6km strike length of the main Bekisopa tenements had been drilled, and expected that further drilling would “considerably expand” the resource.
Southern zone
Meanwhile, work continues on delivering a resource estimate for the project’s southern zone which has an exploration target of between 50Mt and 100Mt grading up to 69% iron with up to 2.5% silicon dioxide, up to 1.2% aluminium oxide, up to 0.01 % phosphorus pentoxide, 0.02% sulphur and 2.5% loss on ignition (LOI).
The weathered zone comprises high-grade outcrop material which can be selectively mined using conventional shovel, truck, crush and screening operations to produce lump and fines direct shipping ore.
The last six drill holes of Akora’s 2021 campaign at the southern zone suggested significant thicknesses of iron mineralisation at depth, with drilling completed at 172.8m, 186.3m and 208.8m.