In June 2014 IPR acquired a 75% interest in Iron Ore Corporation Madagascar sarl (IOCM) from Cline Mining Corporation. IOCM’s key asset is the Bekisopa iron project which, based on historical exploration and evaluation, has potential for near surface direct ship ore (DSO) and has a stated potential estimated at greater than 150Mt.
The Bekisopa project consists of five granted research permits (PRs) and one granted small scale mining permit (PRE) covering 425 square kilometres and located approximately 210km from the west coast.
The Bekisopa prospect has been the focus of three generations of evaluation, the French Geological Society BRGM in 1959-62, the United Nations Development program (UNDP) in 1976-78 and Cline Mining Corp. in 2007-08.
Bekisopa acquired in June 2014 has seen a fair deal of preliminary work carried out since the 1960’s by the French BRGM who over several years did geological mapping, geophysical surveying, trenching (4,000m), pitting (564 pits for 1,862m), drilling (22 holes aggregating 572m), petrology and geochemical analysis (2,581 samples) and identified high grade iron occurrences.
Then the UNDP from 1976 to 1978 built on the BRGM work with further pits, drilling and mapping and reported a Mineral Resource with a stated potential estimated at greater than 150M.
Bekisopa is Indian Pacific Resources major project as we explore for high grade lump iron ore and build on the historical data to define initially some 100m tonnes of iron ore resource.
In late 2014 IPR collected 118 rock chip verification samples over the 5km iron mineralisation strike length. The average iron content of these samples was 66.7% Fe and low impurity levels averaging 1.5% SiO2, 1.0% Al2O3 and 0.075% P.
Further detail included in the Historical Exploration Work summary attached.
Wardell Armstrong International Comments taken from the Competent Person Report – May 2017:
“The six southerly tenements in Fianarantsoa Province are collectively known as the Bekisopa licences, and cover an area of 425km² and are considered by IPR to be their flagship project. The Bekisopa licence (PR 10430) is situated 350km southwest of Antananarivo and 125km west-southwest of Fianarantsoa, the regional centre. The topography is characterised by grasslands and gentle rounded hills.”
“At Bekisopa, the surficial ore could make a good starting point should a mineable, recoverable resource be defined. This surficial material could probably be scraped off with bull-dozers and excavators without the need for drilling and blasting, then screening and crushing to potentially produce a high-grade (DSO) lump, and fines products. Work should be completed to confirm the presence of any DSO material and its propensity to be upgraded.”
“The “available” strike length of the iron ore occurrence on PR 10430 is ~5.2km which would allow for a significant tonnage if the ore horizon(s) is/are continuous, and the width is adequate. With the ridge forming the ore body, the strip ratio is also likely to be favourable.”"There appears to be no obvious environmental and cultural concerns."