Akora Resources (ASX: AKO) reports that its first deep hole on its Bekisopa project in Madagascar hit two zones of massive iron ore mineralization, extending to a depth of 185m at the bottom of the hole.
The company describes the results as “very encouraging” in that it now confirms mineralization at depth as well as 5 km along strike.
The iron was intercepted at 39.55 m downhole and this first zone extended 9.42 m, the second interval starting at 50.9 m and extending for 134.43 m.
Akora, founded in 2009, has three iron ore projects on the island – the reasonably advanced Bekisopa, 220 km inland from the west coast of Madagascar, and two scalable projects near the east coast.
In April, the company announced what it called “additional outstanding drill results” from Bekisopa with iron ore grades of up to 66.9% iron after crushing.
The company noted that the analyzes confirmed the continuation of what it called significant near-surface mineralization along a direction of 4 km.
Its goal is to drill and define approximately 100 million tonnes of drop-shipment ore.
Deeper diamond drilling continues at Bekisopa
The Bekisopa 2021 campaign continues with deeper diamond drilling.
On the now reported first deep hole, Akora says this result is important as it suggests that the newly identified southwest area may be continuous with the main southern area, significantly increasing the tonnage potential in the southern part of the project area. .
Two drilling teams are working at Bekisopa, with 20 holes dug between 150 m and 250 m, the program to be completed at the end of October.
Analysis at Perth is ongoing and on schedule, with a mineral resource estimate expected by the end of this year.
Akora’s plans are only a short sea trip from the vast Indian market.
Second, China is looking for an alternative supply of iron ore in an attempt to reduce its dependence on Australia, which now covers up to 60% of its needs.
The main project has been thoroughly explored
Bekisopa has been the subject of considerable exploration over the years.
Between 1959 and 1962, the French geological agency BRGM – long active in French-speaking Africa – dug 4,000 m of trenches at Bekisopa, dug 564 pits and drilled 22 holes, the last of which intersected occurrences of high-grade iron.
During the period 1976-1978, the United Nations Development Program did more drilling on the project.
Akora continued this work in 2014 by collecting 118 samples of rock chips whose assays revealed an average iron content of 66.7% and with low impurities; and 21 of these samples scored over 69%.
The other two projects are close to the east coast, including one, Tratramarina, located just 16 km inland.