AKORA Resources Limited (ASX: AKO) has commenced a surface trenching exploration program at its 100%-owned Bekisopa high-grade Direct Shipping Ore (DSO) Iron Ore Project in Madagascar. AKORA Resources is an Australian resources company focused on the development of four high-grade iron ore projects in Madagascar. The program aims to expand the resource footprint of near-surface direct shipping iron ore, targeting visible outcropping zones outside the known mineral resource area where approximately 60% of the strike remains unexplored.
The exploration will also focus on historical pitting and trenching zones established by the French Geological Society in the 1950s and 60s. These zones will support cost-effective geological mapping and potential resource extension. The trenching program will focus on the region between the southern and central mining pits. Priority areas have been identified based on potential surface outcrops, the underlying magnetic anomaly, and the presence of historical pits and trenches. The exploration program is scheduled to conclude by the end of October 2025. At the conclusion of the exploration program, geological samples will be prepared for shipping to Perth for mineral analysis. Results are expected in early 2026.
Managing Director and CEO, Mr. Peter Bird, stated that the exploration trenching initiative will test the surface expression of the DSO iron ore mineralisation between the Central and Southern Pits. He noted the prefeasibility study indicated that an additional 1.0Mt of resource material has the ability to add US$21m to the current defined NPV10 of US$147m.
AKORA is aware of recent civil unrest in Madagascar but reports that it has not impacted their field activities. The company maintains that the safety of employees, contractors, and local communities remains secure. AKORA continues to advance the project as planned, with meetings scheduled with government officials and World Bank representatives in the coming weeks to progress the permits for the Bekisopa Project.
