Ariana Grows Dokwe Footprint as Drilling Extends Gold Beyond Resource Boundary

Why It Matters

Extending the resource footprint and confirming oxide‑rich mineralisation reduces future mining costs and strengthens the economic case for Dokwe, positioning Ariana for a near‑term DFS and potential reserve upgrade. This could attract capital to a high‑grade, low‑cost gold project in a geopolitically stable African jurisdiction.

Key Takeaways

• RC drilling extends gold mineralisation >150 m beyond Dokwe North resource
• Best intercepts: 22 m @ 1.49 g/t Au and 8 m @ 1.20 g/t Au
• Oxide zones near surface favor low‑cost mining and processing
• Phase 2 diamond drilling and resource update slated for H2 2026
• DFS targeted for Q1 2027 after $660k metallurgical testwork

Pulse Analysis

Ariana Resources' Dokwe project, a 1.12 Moz gold resource in Zimbabwe, has entered a pivotal expansion phase. The latest RC campaign of 31 holes, covering 5,659 m, confirmed that gold mineralisation extends well beyond the previously defined Dokwe North boundary, adding more than 150 m of strike length. Such extensions are significant in a region where infrastructure and political risk are often concerns, because they improve the project's scale potential without requiring new land acquisition.

The intercepts—22 m at 1.49 g/t Au and 8 m at 1.20 g/t Au—come from shallow oxide zones, which are typically easier and cheaper to process than deeper sulfide ore. This aligns with Ariana's strategy to target low‑cost, high‑grade mining operations that can deliver attractive cash flow early in the mine life. The company has already secured a $660,000 metallurgical test‑work agreement with Hongkong Xinhai Mining Services, paving the way for the Phase 2 diamond drilling that will supply definitive data for the upcoming feasibility study.

Looking ahead, Ariana plans a resource review in the latter half of 2026, followed by a definitive feasibility study in Q1 2027. The timeline is bolstered by an up‑to‑$11 million investment envelope, underscoring confidence from global mining service partners. If the DFS confirms the current optimism, Dokwe could become a benchmark low‑cost gold asset in Africa, potentially unlocking new equity financing and strategic partnerships for Ariana as it moves toward production.