| Announcement Date: | 2022-03-23 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Akora Resources Ltd. |
| Project name: | Bekisopa |
| Location: | Madagascar |
| Commodities: | Iron |
| Highlight: | Initial Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | AKORA Resources (“AKORA” or “the Company”) (ASX Code: AKO) is pleased to provide shareholders with the maiden Mineral Resource for the Northern and Central Zones of the Bekisopa project. Mineral estimation results for the Southern Zone will be reported as soon as complete, the delay due to the late receipt of the final assay and processing trial results. At the time of preparing the AKORA Resources Prospectus and budgets the Company forecast a 100 million tonnes maiden Mineral Resource from the first 4,000 metres of drilling at Bekisopa. As drilling success progressed it was decided to bring forward additional drilling planned for 2022 into the 2021 campaign to minimize costs and maximise the size of the initial Mineral Resource. The Northern and Central Zones comprise 25 drill holes for some 2,142 metres from a total of some 6,200 drilled metres, and has delivered an 84.5 million tonnes Inferred Resource, exceeding expectations. The “Maiden Resource Estimates, Bekisopa” report prepared by Mr Simon Tear, H&S Consultants Pty Ltd is attached to this announcement and details the sampling and assaying methodology, the resource estimation procedure and details resource tonnages and recovered magnetic fraction grades. |
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