Ariana Resources plc (LSE:AAU) has reported progress at its wholly owned Dokwe Gold Project in Zimbabwe during the quarter ended 30 September 2026, including high-grade drilling results and further development of its feasibility study.
The company, which has reported a 1.6 million-ounce gold resource at Dokwe with a pre-tax net present value of US$1.056 billion at a 10% discount rate, ended the quarter with cash of £17.3 million, equivalent to approximately A$32.7 million.
Ariana also completed the sale of its remaining interest in Türkiye’s Kiziltepe Sector while maintaining a 9.9% stake in the Zenit Mining Operations.
Dokwe Drilling Returns 98 Metres at 2.85 g/t Gold
Ariana completed 2,822 metres of metallurgical drilling across 15 holes at Dokwe North and Dokwe Central.
Significant results included 24 metres grading 4.71 grams per tonne gold from 172 metres in hole DPD141, including 2 metres at 46.95 g/t gold.
At Dokwe Central, hole DPD150 intersected 98 metres grading 2.85 g/t gold from 91 metres, including 1 metre at 93.72 g/t gold.
Four additional diamond drill holes totalling 1,005 metres were completed on the eastern flank of Dokwe North, identifying further potential for mineralisation. Results included 8 metres at 1.45 g/t gold from 96 metres in hole DPD154.
Approximately 11,000 metres of recent drilling will contribute to updated Mineral Resource and Ore Reserve estimates, being prepared independently by AMC Consultants and Auralia Mining Consultants.
Feasibility Study Progresses Across Key Development Areas
Ariana continued work on several components of the Dokwe feasibility programme, including metallurgical testing, water exploration and infrastructure planning.
Eight tonnes of metallurgical samples were prepared for testing in China and Australia, with Xinhai Mining Services supporting the programme.
Water exploration drilling is underway, comprising 12 priority holes totalling 2,155 metres.
Geotechnical drilling at Dokwe Central has also been completed, while Knight Piesold is assessing options for the positioning of waste rock dumps and the tailings storage facility.
Managing Director Dr. Kerim Sener commented:
“The Company has continued to make excellent progress on its 100%-owned Dokwe Gold Project in Zimbabwe towards its Feasibility Study. Metallurgical and resource-definition drilling returned very encouraging results, including 24 metres at 4.71g/t Au from Dokwe North and 98 metres at 2.85 g/t gold from Dokwe Central.”
Ariana Completes $3.7 Million Kiziltepe Disposal
During July, Ariana completed the sale of its remaining 9.9% interest in the Kiziltepe Sector in Türkiye to Proccea Construction Co. for approximately US$3.7 million in cash.
The transaction followed the conclusion of commercial operations at Kiziltepe and the earlier reduction of Ariana’s interest in Zenit during the second quarter of 2026.
Ariana retains a 9.9% interest in Zenit, including exposure to the Tavşan Gold Mine.
Tavşan produced 8,102 ounces of gold during the third quarter, with heap-leach operations running at full production capacity.
For the nine months ended 30 September, Zenit Mining Operations produced 17,940 ounces of gold, generating total revenue of US$81.4 million.
Dokwe Development and Financing Remain Priorities
Ariana said its immediate priorities include progressing the Dokwe feasibility study, completing revised resource and reserve estimates, and advancing metallurgical, water, power, infrastructure and environmental assessments.
The company also plans to continue exploration activities to investigate potential extensions to the existing gold mineralisation.
Following the appointment of Michael Atkins as Executive Chairman, Ariana is evaluating development and financing options as it works towards bringing Dokwe into production.
Leave a Reply