2nd Jul 2025 12:20
(Alliance News) - Ariana Resources PLC shares rose on Wednesday after reporting a find with the potential to "greatly improve" development plans for its Dokwe gold project.
Ariana Resources is a London-based mineral exploration and development company with gold mining interests in Africa and Europe.
The company shared an exploration update for its Dokwe gold project in Zimbabwe, noting that a new gold anomaly had been identified next to Dokwe North.
This project is home to the million-ounce Dokwe gold deposits, Ariana Resources said, which it is progressing towards a feasibility study.
Ariana said a "significant" 500 metre long, gold-in-soil anomaly was found utilising portable X-ray florescence technology in combination with innovative detectOre technology.
It noted that the anomaly is "geochemically significant", with it possessing a near coincident and partially overlapping gold and arsenic signature that is very similar to what was seen above the Dokwe North mineralisation.
Ariana added that the discovery proximity - identified 125 metres along strike of the planned Dokwe North pit rim - prioritises the area for drill testing.
Shares in Ariana Resources were up 3.8% to 1.38 pence on Wednesday afternoon in London.
Ariana Resources Managing Director Kerim Sener said: "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 125 metres 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."
By Christopher Ward, Alliance News reporter
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