Akora Resources reported findings from its fourth drill campaign at the Bekisopa Iron Ore Project in Madagascar.

Results from 52 out of 65 shallow drill holes revealed high-grade iron mineralisation in the northern and central zones, potentially expanding the 4.4 million tonnes indicated DSO resource identified in the southern zone.

The new mineral resource estimate is expected by the mid-second quarter.

Akora plans a low-capital start-up project based on a November 2023 scoping study. The project targets a DSO operation with an average of 61% iron and a production goal of 2 million tonnes annually over a five-year mine life.