AKORA Resources Ltd (ASX: AKO) CEO Paul Bibby tells Proactive the company thinks it has hit significant iron mineralisation following its fourth drilling campaign at the Bekisopa Iron Ore Project in Madagascar. The campaign covered 904.9 metres across 65 drill holes, and AKO says iron mineralisation was particularly strong in the project's northern and central zones. The drilling took place on a 50-metre-by-50-metre grid and averaged an intercept of 18 metres along a 6-kilometre strike in the northern zone, and 9.2 metres in the central tenement. The campaign sets the stage for a scoping study to be released by the end of October.
Bibby said: “We have defined a 194.7 million tonne (Mt) resource which when upgraded can produce a concentrate grade of over 67% Fe at Besikopa, which is a premium grade product in increasing demand in a decarbonising world.
“Our ongoing priority over recent drill campaigns has been to better define the DSO tonnage and grade, within that resource, to aid production planning.
“Bekisopa’s scoping study is due at the end of October and will define viable pathways to developing a low-cost DSO start-up operation to generate early cash flows.”
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