Akora Resources Limited Provides Shareholders with the Completed Maiden Inferred Mineral Resources for All the Bekisopa Project
Shipped Ore (DSO). These areas of high-grade iron will be better defined by closer spaced shallow drilling and then selectively mined to maximise tonnage, grades and revenue. From the cross sections, high-grade surface intercepts ranging from 59 to 66%Fe, suitable for DSO, can be seen from 1.2m to 25.2m thickness along the eastern edge of the Southern iron formation that looks to be continuous both along and across strike. Plus, iron mineralisation at surface on the western side. The Mineral Resource modeling assumes a conventional bulk mining method, uses mining blocks that are 5 metre high, 25 metres wide and 50 metres long, which may dilute the potential surface DSO grade and add tonnes. Within the overall Southern Zone resource the modelling has estimated some 4.2 million tonnes of DSO potential. For the Northern and Central Zones this same approach has determined 3.6 million tonnes of DSO for an overall DSO tonnage of 7.8 million tonnes. The bulk mining resource methodology will tend to dilute the overall grade potential where the weathered zones are incorporated into thicker bulk mining resource blocks and add tonnes. Using selective mining of the DSO material, with minimal country rock, should deliver higher- grade DSO products closer to assay results. AKORA's intention is to selectively mine the areas of higher-grade surface mineralisation, ranging from 59 to 66% Fe. With this weathered DSO will be blended the high-grade outcrop, shown to average 66.7% Fe from rock chip sampling. Combined, these DSO sources should deliver an average higher-grade DSO lump and fines product. More shallow infill drilling is required to better define the DSO tonnage and grade potential prior to mining. The 194.7 million tonnes Maiden Inferred Mineral Resource for Bekisopa at a concentrate grade of 67.6% Fe has exceeded expectation and places the Bekisopa project as a significant iron ore resource worthy of further evaluation and development. The Southern Zone maiden resource at 110.2 million tonnes is substantial and exceeds AKORA's and H&S Consultants, Resource Geologists, expectations. The DTT concentrate grade at 67.6% Fe is a premium grade product suitable for Direct Reduced Iron (DRI) pellet feed. DRI will be in increasing demand as the Iron and Steel industry embarks on a green de-carbonised future that will require higher iron feed grades with low impurity levels. This extensive 194.7 Mt maiden Mineral Resource confirms the AKORA Boards 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 sizing's after a DSO start-up focused on the high-grade outcrop and weathered zone iron ore formations, which is estimated to range from 10 to 20 million tonnes.