Akora Resources Limited (ASX:AKO)
Akora Resources Limited (ASX:AKO) is an exploration company engaged in the exploration and development of the Bekisopa Project, the Tratramarina Project and the Ambodilafa Project, iron ore projects in Madagascar.
In all the group holds some 308 km2 of tenements across these three prospective exploration areas, with each project being covered by several separate tenements. To date only one tenement section at each of the three project areas has been explored and there are numerous prospective tenement areas at each project location that also show distinct anomalies that warrant further exploration evaluation.
The Bekisopa Project is considered by the Directors to be of primary importance as it has the potential for significant high grade lump Direct Ship Ore (DSO). Further the Bekisopa Project has a historic stated potential resource estimated at greater than 150Mt. This historic resource estimate was calculated by the United Nations Development Project (UNDP) based on their fieldwork and also the work of the French BRGM. However, the Mineral Resource estimate does not confirm to a Recognised Standard, such as JORC CODE, and may not be used for economic purposes.
Following the successful geological survey and ground magnetic survey at Bekisopa in October 2019 which confirmed the ore body extends over a 7 kilometre strike length and to depths of at least 500 meters a focused exploration and drilling work program has been mapped out for the Bekisopa project and this is aimed at updating the geological information and performing deep drilling to determine the extent of the high grade lump ore already identified at surface. Following this proposed work program at Bekisopa tenement 10430 AKORA then plans to undertake preliminary exploration at the other Bekisopa tenements as these anomalies may add significantly to the known 7km iron ore strike length demonstrated at Bekisopa PR 10430.