AKORA Resources (ASX: AKO) has completed a site trenching program as part of ongoing exploration at its high-grade Bekisopa iron ore project in south central Madagascar.
The 339-metre program – which focused on the manual excavation of eight trenches to a maximum 2m depth – commenced after the company released a ++pre-feasibility study++ in March for the project’s Stage 1 operation.
AKORA collected approximately 365 samples from the trenched areas to further define the surface direct shipping ore (DSO) mineralisation between the resource and reserve areas at the planned Southern and Central mining pits.
Abundant Iron Mineralisation
Magnetic susceptibility data from the sample locations confirmed iron mineralisation across all trenches and provides an early indication of Bekisopa’s mineral abundance.
The company also completed surface field mapping across prospective zones between the southern and central mineral resource areas which contain a significant number of historical exploration pits and present strong potential to link the two deposits.
Managing director Peter Bird said the program played an important part in advancing the company’s understanding of Bekisopa’s high-grade DSO potential.
“Visual results to date have demonstrated consistent iron mineralisation between the southern and central resource areas and reinforces our confidence in the scale and quality of this deposit,” he said.
Mr Bird said the company was keen to unlock the project’s full economic value on approval of a mining licence application.
Regional Stability and Reform
AKORA expects Madagascar’s new administration will bring much needed stability and reform to the region.
The October appointment of a new minister for mines and a 29 member cabinet — including 25 civilian ministers — is seen by many as a shift towards a more inclusive and technocratic government.
Global institutions including the World Bank and International Monetary Fund are reported to be closely monitoring the developments, with renewed funding commitments from the European Union signalling Madagascar’s steady return to political and economic normality.
Madagascar’s previous government had confirmed its support of Bekisopa as a key project with near-term development potential.
