Akora Resources Ltd (ASX:AKO) CEO Paul Bibby tells Proactive the company has lifted the mineral resource estimate (MRE) for the Southern Zone of the Bekisopa Iron Ore Project in Madagascar to 5.54 million tonnes of direct shipping ore (DSO) grading 60.35% iron in the inferred category, which is 34% more DSO tonnes than estimated in April last year and at a higher grade.
Within this MRE is 4.42 million tonnes of DSO grading 60.86% iron in the indicated category, which the company believes is suitable for a selective mining DSO start-up with relatively low mining and processing capital and operation costs.
It is very encouraging to report upgraded DSO tonnes and grade from last years infill drilling campaign," Bibby said.
These 5.54 million tonnes will be the mined tonnes for a lower processing capital and operating cost DSO start-up.
Beneath the weathered DSO Eastern zone is a high-grade magnetite iron mineralised zone, of 34 million tonnes at 45.3% iron, that could become the focus of an economical Green Steel concentrate production start-up.
Akora is preparing for an additional 800 metres of DSO infill drilling across the Bekisopa Northern and Central zones to further expand the start-up DSO tonnage.
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AKORA Resources Limited