Akora Resources (ASX: $AKO) identifies high-grade iron ore at Bekisopa

Akora Resources Limited (ASX: $AKO) has announced the identification of further high-grade direct shipping iron ore at its flagship Bekisopa Iron Ore Project in Madagascar. The results from the fourth drill campaign, completed in October 2023, have revealed that 52 out of 65 shallow drill holes across the northern and central zones intercepted high-grade iron mineralisation, potentially expanding the initial 4.4Mt of Indicated direct shipping ore (DSO) Resource hosted in Bekisopa's southern zone. A new Mineral Resource Estimate is expected in mid Q2 2024.

Executive Commentary on Bekisopa Project

AKORA Managing Director and CEO, Mr Paul Bibby, highlighted the significance of the drilling results, stating that the aim is to increase the project's overall DSO Resource tonnage, which is currently concentrated in the southern zone. The updated Mineral Resource Estimate, based on the assay results, is anticipated to enhance the project's mine life, financials, and cash flow, supporting the planned low capital DSO start-up project. The company is focused on advancing a high-grade 61% Fe DSO operation at Bekisopa, with the potential to ramp up production to 2 million tonnes per year over an initial five-year mine life.

Summary of Akora Resources' Announcement

Akora Resources (ASX: $AKO) has made significant progress in identifying high-grade iron ore at its Bekisopa Iron Ore Project in Madagascar. The successful fourth drill campaign has paved the way for a potential expansion of the initial 4.4Mt of Indicated direct shipping ore (DSO) Resource, with a new Mineral Resource Estimate expected in mid Q2 2024. The company's plans to develop a high-grade 61% Fe DSO operation at Bekisopa, as outlined in the Scoping Study released in November 2023, have received a boost from the latest drilling results. The focus on a low capital DSO start-up project and the potential to produce cleaner iron ore for greener steel align with Akora's strategic goals. The upcoming Mineral Resource Estimate and the planned Pre-Feasibility Study are key milestones that investors and stakeholders can look forward to.