Ariana Resources (LSE:AAU) has received all assay results from its 2025–2026 reverse circulation drilling programme at the Dokwe Gold Project in Zimbabwe, with results confirming that gold mineralisation extends at least 150 metres beyond the current resource boundary at Dokwe North and remains open along strike.
The drilling campaign identified shallow oxide-hosted gold intercepts at Dokwe North, while additional extensions at Dokwe Central may potentially fall within the limits of the proposed pit shell. The nearby Sinkwe prospect also returned encouraging shallow mineralisation results, adding further support to the broader development potential of the project.
The company said the latest findings will contribute to an updated JORC-compliant mineral resource estimate expected during the second half of 2026. Ongoing diamond drilling and feasibility study activities are also continuing as Ariana works to improve project reserves and optimise future mine planning.
Dokwe currently hosts a gold resource exceeding 1.1 million ounces, and management believes the latest drilling results strengthen the long-term development case for the asset.
Despite operational progress at Dokwe, the company’s broader outlook remains constrained by weak underlying financial fundamentals, including the absence of revenue generation, recurring losses and continued negative operating and free cash flow trends, all of which contribute to elevated sustainability risk.
However, Ariana maintains a relatively low-leverage balance sheet, which provides some financial support. Market technical indicators remain broadly neutral, while valuation metrics appear stretched due to a high price-to-earnings ratio and the lack of dividend income.
More about Ariana Resources
Ariana Resources is a mineral exploration and development group focused on gold assets across Africa and Europe. Listed on both AIM and the ASX, the company currently holds a 100% interest in the Dokwe Gold Project in Zimbabwe, where it is advancing resource expansion, drilling and feasibility work on a deposit containing more than one million ounces of gold.
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