REG - Ariana Resources PLC - New Gold Anomaly Identified next to Dokwe North

Ariana ResourcesAnnouncement

Wed 07:00

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RNS Number : 2489P  Ariana Resources PLC  02 July 2025

2 July 2025

AIM: AAU

NEW GOLD ANOMALY IDENTIFIED NEXT TO DOKWE NORTH

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral
exploration and development company with gold project interests in Africa and
Europe, is pleased to announce an exploration update for the 100% owned Dokwe
Gold Project ("Dokwe" or "the Project") in Zimbabwe.

Highlights:

·    Significant 500m long gold-in-soil anomaly, identified 125m along
strike of the planned Dokwe North pit rim using Portable X-ray-Fluorescence
("pXRF") coupled with novel and innovative use of detectORE(TM) technology.

·   Anomaly is geochemically significant, with a near coincident and
partially overlapping gold and arsenic signature almost identical to that seen
above the Dokwe North mineralisation.

·    Further demonstration of the potential of Dokwe to host a
multi-million-ounce exploration and development opportunity.

·   Proximity of the new discovery area to the planned Dokwe North open
pit prioritises this area for drill-testing.

Dr. Kerim Sener, Managing Director, commented:

"This is a highly significant gold-in-soil anomaly, supported by other
geochemical and geological information, which must be tested through drilling
as a priority. There is potential in this area to identify an extension to the
Dokwe North mineralised zone, immediately along strike to the northeast and
only 125m from the planned pit rim.

"Today's news reveals an exciting new development for Dokwe, which could
greatly improve our development plans for the Project. Over the past few
months, the team has successfully expanded the detection capabilities of the
detectORE(TM) technology by implementing the latest innovations to locate
buried gold mineralisation. The discovery of this anomaly aligns with
everything we have learnt about the Dokwe mineralisation style and its
geological context, as well as the dispersal patterns of trace elements in the
soil profile above the orebody.

"Importantly, this breakthrough also demonstrates how detectORE™ can be
applied regionally. We are now preparing to deploy these technologies across
the broader Bulawayo-Bubi Greenstone Belt - particularly in concealed,
underexplored areas - with the aim of determining whether Dokwe forms part of
a larger, camp-scale cluster of deposits. Similar systems are evident in
exposed sections of the belt, and we believe this region remains one of the
most prospective, yet underexplored gold provinces in southern Africa.

"We have been very successful in adopting and implementing detectORE™
technology and are leaders in applying the technique in this particular
manner. This has dramatically reduced our target generation time and allowed
us to identify a potential new zone of mineralisation in under six months. I
would like to thank the Dokwe team for their outstanding work."

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").

Dokwe North Exploration Update

 

The Dokwe Gold Project in Zimbabwe hosts the million-ounce Dokwe gold
deposits, which are progressing towards a Feasibility Study ("FS"). An ongoing
regional soil sampling programme continues to expand to cover the entire
project area (42km(2)), with multi-element portable X-Ray Fluorescence
("pXRF") geochemical analyses. Thus far, 6,139 samples have been collected and
analysed. This work has led to the discovery of a new gold-in-soil anomaly to
the northeast of Dokwe North (Figure 1), contributing to some important
modifications to the planned mine site layout for the FS.

 

A series of mining and processing optimisation scenarios is currently being
run by Whittle Consulting ("Whittle") to assist with key decision-making ahead
of more detailed project feasibility work. To complement the Whittle work,
Ariana is undertaking several parallel studies to support and expand the
technical data currently held for the Dokwe deposits, resulting in improved
geological models and a better understanding of the nature and siting of the
gold. In conjunction with this, the team is reviewing regional geophysics,
drilling and soil geochemical datasets in order to evaluate near-mine and
regional exploration opportunities within the Dokwe Project Area, and to
assist in sterilising areas to enable planning for the mine site layouts.

Figure 1: Plan view (top) and cross-section (bottom), Dokwe North,
highlighting the gold-in-soil anomaly to the northeast of the proposed pit
(the balls representing samples in the cross-section have the same colour
coding as in the map). The north-south detectORE(TM) sampling line across the
pit was an orientation survey undertaken by Ariana, indicating the level of
anomalism that could be expected from the application of the technology and
thereby providing confidence in the defined anomalies within the peripheral
area. The new target area for drilling is shown in the cross-section.

 

Dokwe North: Extension

 

The pXRF soil sampling programme to the northeast of Dokwe North identified an
arsenic anomaly (4-8ppm through cover). This prompted follow-up with
detectORE(TM) gold analysis, which highlighted a gold-in-soil anomaly in
detectORE(TM) Units (dU) (Figure 1). The anomaly trends north-eastwards for
approximately 500 metres and shares a similar trend to the mineralisation
identified at Dokwe North. There is no drilling within the immediate target
area, making this a highly significant exploration target that offers an
opportunity to discover an extension to the Dokwe North deposit. The target
will be drilled at the earliest opportunity.

 

The new Dokwe North "Extension" soil anomaly is consistent with the geological
and mineralisation models derived from the Dokwe deposit studies. The deposit
is characterised by anastamosing, sub-vertical shear zones as the primary
control on mineralisation, particularly where they interact with lithological
contacts and internal heterogeneities (such as amygdales) within the host
volcanoclastic rock sequence. When seen in drill core or under the microscope,
coarse gold appears not to be bound in gangue minerals, and very late in the
deformation history, with a significant amount likely to be amenable to
liberation at a moderate grind size, and gravity recovery (Figure 2).

 

 

Figure 2: Visible gold in amygdaloidal dacite, Dokwe North, seen under
reflected light microscopy, filling voids and cracks amongst pyrite grains, in
amygdale and pyrite pressure shadows, and in fractures in quartz veins. Gold
is interpreted to be late, and should be readily liberated and amenable to
recovery in a gravity circuit.

The detectORE™ Process Outline

Under normal circumstances, gold cannot be measured in geological samples
using pXRF due to its low concentration and the presence of interfering metals
(caused by peak overlap). The detectORE™ process overcomes the limitations
of pXRF by leaching the gold from the sample using a lixiviant ("GLIX-20™")
and a Collector Device ("CD"). GLIX-20™ is a powerful lixiviant with good
selectivity for gold and allows for a simple and safe process, practical for
in-field use. The CD selectively concentrates dissolved gold, enabling
measurement by pXRF. Fundamentally, detectORE™ is a sample analysis
technique that enables exploration geologists to measure trace concentrations
of gold in geological samples using a pXRF. Ariana Resources are world leaders
in applying this technology, and work at Dokwe takes the method to its limits
by analysing gold at the very low levels required for successful exploration
soil geochemistry.

Contacts:

 Ariana Resources plc                           Tel: +44 (0) 20 3476 2080

 Michael de Villiers, Chairman

 Kerim Sener, Managing Director
 Beaumont Cornish Limited                       Tel: +44 (0) 20 7628 3396

 (Nominated Adviser)

 Roland Cornish / Felicity Geidt
 Zeus Capital (Joint Broker)                    Tel: +44 (0) 203 829 5000

 Harry Ansell / Katy Mitchell

 Fortified Securities (Joint Broker)            Tel: +44 (0) 203 411 7773

 Guy Wheatley

 Shaw and Partners (Lead Manager - ASX)         Tel: +61 (0)2 9238 1268

 Damien Gullone

 Yellow Jersey PR Limited (Financial PR)        Tel: +44 (0) 7983 521 488

 Dom Barretto / Shivantha Thambirajah /         arianaresources@yellowjerseypr.com

 Bessie Elliot

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

Editors' Note:

The information that relates to Mineral Resources and Exploration Results are
based upon information compiled by Mr. Zack van Coller BSc (Hons), Targeting
Group Leader, Ariana Resources plc. Mr. van Coller is a Fellow of The
Geological Society of London, and has sufficient experience which is relevant
to the style of mineralisation and type of deposits under consideration and to
the activity which he is undertaking to qualify as a Competent Person as
defined by the 2012 edition of the Australasian Code for the Reporting of
Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr. van
Coller has over 10 years of relevant experience in the Technical Assessments
of Mineral Properties. Mr. van Coller consents to the inclusion in the report
of the matters based on his information in the form and context in which it
appears.

The information in this announcement that relates to exploration results is
based on information compiled by Dr. Kerim Sener BSc (Hons), MSc, PhD,
Managing Director of Ariana Resources plc. Dr. Sener is a Fellow of The
Geological Society of London and a Member of The Institute of Materials,
Minerals and Mining and has sufficient experience relevant to the styles of
mineralisation and type of deposit under consideration and to the activity
that has been undertaken to qualify as a Competent Person as defined by the
2012 edition of the Australasian Code for the Reporting of Exploration
Results, Mineral Resources and Ore Reserves (JORC Code) and under the AIM
Rules - Note for Mining and Oil & Gas Companies. Dr. Sener consents to the
inclusion in the report of the matters based on his information in the form
and context in which it appears.

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an
exceptional track-record of creating value for its shareholders through its
interests in active mining projects and investments in exploration companies.
Its current interests include a major gold development project in Zimbabwe,
gold production in Türkiye and copper-gold exploration and development
projects in Cyprus and Kosovo.

Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in Zimbabwe. Dokwe is
made up of the Dokwe North and Dokwe Central gold deposits which are located
in the Tsholotsho District near the city of Bulawayo. The deposits have a
combined in-pit JORC Measured, Indicated and Inferred Resource of over 1.42
million ounces of gold (as at March 2025) and the project represents the
largest undeveloped gold project in Zimbabwe.

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a
joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in
Türkiye which contains a depleted total of c. 2.2 million ounces gold
equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint
venture comprises the Kiziltepe and Tavsan mines and the Salinbas project.

The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a
depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold
and 3.3 million ounces silver (as at March 2024). The mine has been in
profitable production since 2017 and has been producing at an average rate of
c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of
2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Mine is located in western Türkiye and contains a JORC
Measured, Indicated and Inferred Resource of 311,000 ounces gold and 1.1
million ounces silver (as at March 2024). Following the approval of its
Environmental Impact Assessment and associated permitting, Tavsan is being
developed as the second gold mining operation in Türkiye and is currently in
construction. A NSR royalty of up to 2% on future production is payable to
Sandstorm Gold.

The Salinbas Gold Project is located in north-eastern Türkiye and contains
a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold
(as at July 2020). It is located within the multi-million ounce Artvin
Goldfield, which contains the "Hot Gold Corridor" comprising several
significant gold- copper projects including the 4 million ounce Hot Maden
project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2%
on future production is payable to Eldorado Gold Corporation.

Ariana owns 76% of UK-registered Western Tethyan Resources Ltd ("WTR"),
which operates across south-eastern Europe and is based in
Pristina, Republic of Kosovo. The company is targeting its exploration on
major copper-gold deposits across the porphyry-epithermal transition. WTR is
being funded through a five-year Alliance Agreement with Newmont Ventures
Limited (www.newmont.com) and is separately earning-in to up to 85% of the
Slivova Gold Project.

Ariana owns 61% of UK-registered Venus Minerals PLC ("Venus") which is
focused on the exploration and development of copper-gold projects in Cyprus,
some of which are in application, containing a combined JORC Indicated and
Inferred Resource of 16.6Mt @ 0.45% to 0.80% copper (excluding additional
gold, silver and zinc).

Ariana owns several investments in listed and private companies via its
Australian subsidiary Asgard Metals Pty. Ltd. ("Asgard"), which also
provides technical input into the various investee company exploration
programmes. Investments have been made in high-value potential,
discovery-stage mineral exploration companies located across the Eastern
Hemisphere and within easy reach of Ariana's operational hubs in Australia,
Türkiye, UK and Zimbabwe. Its most advanced interest is through a 4.1%
holding of Panther Metals Limited (ASX: PNT).

Zeus Capital Limited, Fortified Securities and Shaw and Partners are the
brokers to the Company and Beaumont Cornish Limited is the Company's Nominated
Adviser.

For further information on Ariana, you are invited to visit the Company's
website at www.arianaresources.com.

Glossary of Technical Terms:

"Au" chemical symbol for gold;

"g/t" grams per tonne;

"km" Kilometres;

"m" Metres;

Ends.

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