Akora Resources (ASX:AKO) has announced the results of its exploratory drilling program at the Satrokala Project in Madagascar. The drilling revealed substantial intersections of low-grade iron mineralization across all five holes. The company plans to reassess the geological data to identify potential higher-grade areas.
Akora Resources has reported low-grade iron mineralization from its recent drilling at Satrokala, with grades lower than expected. The company will reassess the geological data to identify potential higher-grade areas for future exploration. Meanwhile, Akora remains focused on its flagship Bekisopa Project, with a Pre-Feasibility Study for a high-grade direct shipping ore operation anticipated by early 2025. This strategic focus aims to capitalize on their 194.7 million tonne Inferred JORC Resource at Bekisopa, capable of producing premium-grade iron ore.
The extensive iron intercepts explain the magnetic anomaly but were lower than expected in grade. We plan to reassess the geological data for potential high-grade zones before future drilling. Our focus remains on the Bekisopa Project with a Pre-Feasibility Study for a 2Mt per annum DSO operation on track for early 2025.