Ariana Resources Unveils High-Grade Gold Hits at Dokwe, Signalling Resource Upside

Strong Drill Results Reinforce Dokwe's Potential

Ariana Resources plc has delivered a promising update from its ongoing exploration at the Dokwe Gold Project in Zimbabwe. The recently completed 2025-2026 reverse circulation (RC) drilling programme, spanning 5,659 metres over 31 holes, has yielded high-grade gold intercepts that extend the known mineralised envelope, particularly at Dokwe North.

Key assay highlights include a standout 4 metres at 16.90 grams per tonne (g/t) gold from 69 metres depth, alongside other significant intercepts such as 10 metres at 7.67 g/t and 10 metres at 4.91 g/t. These results confirm the continuity of a structurally controlled, shear-hosted gold system trending northeast-southwest, with mineralisation extending up to 150 metres beyond the current resource boundary to the north-east.

Implications for Resource Expansion and Development

The current Mineral Resource Estimate for Dokwe stands at approximately 1.1 million ounces of gold at an average grade of 1.52 g/t. The new drilling results suggest meaningful near-surface oxide mineralisation that could be amenable to cost-effective extraction methods, potentially enhancing the project's economics.

Managing Director Dr. Kerim Sener emphasised the significance of these findings, noting that the high-grade intersections underscore the strength and continuity of the mineralised shear zone. The results not only validate geological models but also open avenues for resource growth, particularly in oxide zones that are often easier to process.

Next Steps: Phase 2 Diamond Drilling and JORC Review

Building on the RC drilling success, Ariana plans to initiate a Phase 2 diamond drilling programme in late March 2026. This next phase aims to confirm structural interpretations, test depth extensions, and further delineate strike extensions of the mineralised system. The data collected will underpin a potential JORC-compliant resource review, a critical step towards advancing the project towards development.

The company has also disclosed comprehensive technical details, including sampling methodologies, assay procedures, and quality control measures, reinforcing the robustness of the exploration data. While some assay results from recent holes remain pending, the geological indicators are encouraging.

Broader Context and Market Considerations

Ariana Resources operates across multiple jurisdictions with a focus on gold and base metals. The Dokwe project, with its demonstrated resource growth potential, represents a key asset in the company's portfolio. The positive drilling results are likely to attract investor interest, particularly as the company moves towards refining its resource base and advancing feasibility studies.

However, as with all exploration projects, uncertainties remain, including pending assay results, metallurgical testwork outcomes, and the evolving regulatory environment in Zimbabwe. Market participants will be watching closely for the Phase 2 drilling results and any updated resource statements that could materially impact project valuation.