AKORA Resources provided 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 company 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. Work continues on delivering the Southern Zone Mineral Resource Estimate for which H&S Consulting has indicated an Exploration Target of 50 to 100 million tonnes at an estimated concentrate grade of: 67% to 69%Fe at a 30% to 45% DTR with 1-2.5% SiO2, 0.2-1.2% Al2O3, 0.001- 0.01 % P2O5, 0.01-0.02% S & -1 to -2.5% LOI.

The maiden Inferred Resource for the Bekisopa Northern and Central Zones have exceeded expectation at 84.5 million tonnes at a concentrate grade of 67.6%Fe, which represents a premium grade product suitable for Direct Reduced Iron pellet feed demanded for the Green Iron and Steel de-carbonised future. The Exploration Target for the larger Southern Zone has been estimated by H&S Consultants, as 50 to 100 Mt at 30% to 45% DTR for a total of 20 to 50Mt of magnetite with a concentrate grade of 67% to 69% Fe. It is anticipated that once the final DTR assay results have been received, the Mineral Resources for Bekisopa will be updated to include the Southern zone.

In addition, the update is expected to include the definition of the potential Direct Shipped Ore material. This extensive maiden Mineral Resource confirms the AKORA Board's decision to list the company and accelerate the drilling campaigns. The result confirms that Bekisopa is a significant iron ore resource that could deliver high-grade fines and concentrates at relatively coarse sizings after a start-up focused on the high-grade outcrop and weathered zone iron ore.