Akora Resources (ASX:AKO) has identified high-grade direct shipping iron ore at its Bekisopa Project in Madagascar.
Results from the 2024 drill campaign revealed significant iron mineralisation in 58 of 61 drill holes in the project’s southern zone.
The company completed its fifth drilling campaign in June, which returned several high-grade DSO intercepts.
Findings include intercepts from drill holes BEKD226 at 9.4m averaging 67.0% iron and BEKD283 at 9m averaging 66.0% iron from the surface.
The results suggest the potential to substantially increase the project’s Indicated DSO Resource.
Akora plans to release a new mineral resource estimate in the early first quarter of 2025 to support the pre-feasibility study scheduled for that time.
“The high-grade iron ore drilling campaign was designed to determine the extent of the eastern and western limbs of Bekisopa's southern zone," said Paul Bibby, Akora Managing Director and CEO.
"The assay results are with our consultants, and additional DSO tonnes are expected to add mine life and improve project financials,” Bibby added.
The Bekisopa Project, with a strike length of 6km, is crucial to Akora’s strategy to develop a high-grade iron DSO operation, targeting initial production of 2 million tonnes per annum.
At the time of reporting, Akora Resources' share price was $0.12.