Akora Resources (ASX:AKO) anticipates completing a Prefeasibility Study in Q1 2025 for the Bekisopa Iron Ore Project in Madagascar.
The PFS will be reported following the company reporting an updated mineral resource estimate for the project, which is also due for completion in early Q1 2025.
Akora Resources, which has a market capitalisation of $15 million, intends to incorporate the upgraded MRE into the PFS.
This news comes after Akora revealed its plans to develop a more than 60% iron average grade direct shipping ore (DSO) operation at Bekisopa. These plans have received a boost after 58 out of 61 drillholes intercepted iron mineralisation.
In June 2024, Bekisopa’s fifth drilling program was completed and assay results have returned multiple “high-grade” iron intersections of DSO-style mineralisation at iron grades of 58% and above.
CEO Paul Bibby says the program was designed to determine the extent of the eastern and western limbs of the Bekisopa’s southern zone, to increase the overall DSO resource tonnage and deliver more indicated resource iron ore tonnes for the PFS.
“The assay results are with our Wardell Armstrong consultants to update the MRE for the Bekisopa Project with additional DSO tonnes expected to add mine life, improve project financials and increase cashflow for our planned low capital DSO start-up project,” Bibby says.
The Bekisopa project has a 194.7 million tonnes inferred resource with ‘very low impurities’ able to produce a premium priced 68%-plus iron concentrate.
Akora Resources is an Australian resources company focused on developing four iron ore projects in Madagascar.
Write to Aaliyah Rogan at Mining.com.au
Images: Akora Resources
