Akora Resources (ASX: AKO) has reported ‘very encouraging’ iron mineralisation following a rock-chip campaign at its 100%-owned Bekisopa Southwest Tenements within the Satrokala region of Madagascar.
The results, generated from a 102 rock-chip samples, have returned an average iron grade of 58.8% Fe, with one sample returning the highest grade to date of 68.03% Fe.
Addressing the results, Akora Resources Managing Director Paul Bibby said: “These rock chip results from the unexplored Bekisopa Southwest tenements are extremely encouraging and indicate another potentially high-grade discovery located 40 kilometres from our Flagship Bekisopa resource.
“These rock chip results from the unexplored Bekisopa Southwest tenements are extremely encouraging”
The 102 rock chip assays show very promising iron grades. Eight-nine samples delivered iron grades greater than 50% iron and averaged 62%Fe, the benchmark iron grade. Sixty-six of the samples averaged 64.5%Fe with the highest result being 68% iron. Encouraging first iron results that will add iron grade and resource tonnes to the already proved AKORA Bekisopa Resource.”
The company notes that sampling was conducted along a strike length of approximately 10km, with a potential width of 1km between two of the project’s tenements (27211 and 35827).
In addition, these encouraging results indicate that a potential ‘significant’ iron resource, similar to the company’s flagship Bekisopa Project, exists at Satrokala, however this discovery is subject to successful future exploration activities.
Map of the Bekisopa Southwest Tenements displaying rock chip sample locationsThe Satrokala tenements are located approximately 40km southwest of Akora’s flagship Bekisopa iron project which covers a total footprint of 93.5km².
The project currently boasts an exploration target of 10-20Mt @ 60-65% Fe to a depth of around 10m, with 50Mt-100Mt at similar grades that can be interpreted to 100m depth.
Akora reports that it plans to move forward with further geological exploration work on these tenements in the future.
Images: Akora Resources Limited
