Highlights

  • Ariana advances Dokwe drilling with 2,411m completed in its ongoing campaign.
  • Geological indicators observed support continued evaluation of extension and continuity targets.
  • Assay results from initial samples expected as analysis proceeds at Zimbabwe laboratory.

Ariana Resources plc (LSE:AAU) has reported continued progress on its reverse-circulation drilling programme at the Dokwe Gold Project in Zimbabwe. The campaign, first announced on 4 November 2025, aims to complete 4,000m across four targets within the Company’s 100%-owned licence area. A total of fifteen holes have been drilled so far, reaching 2,411m of the planned metres.

The programme is designed to enhance understanding of potential resource extensions across Dokwe Central, Dokwe North-East and the Sinkwe target. Drilling has been supported by real-time portable XRF readings and magnetic susceptibility logging, which are being applied immediately to update geological interpretations and refine drill positioning as fieldwork continues.

Current Work at Dokwe Central
The Company is evaluating the continuity and possible offset of mineralisation within the Dokwe Central shear zone. This area hosts two mineralised bodies: the North Zone, a felsic schist unit extending to roughly 350m depth; and the South Zone, a meta-dolerite-hosted unit extending to approximately 150m depth.

Historical data suggested an abrupt termination of mineralisation on the western side of the deposit. Ariana’s review indicates that these units may be offset along a fault, moving mineralised structures southwards into previously untested areas. Several holes in this campaign are assessing this interpretation.

Holes drilled west of the known resource have intersected sedimentary contacts, schists, quartz veining and altered meta-dolerite. One hole drilled southward through the resource area recorded features consistent with mineralised structures beyond the current modelled envelope. Additional samples from these intervals have been sent for assay.

Wider Programme Status
Drilling has also continued across Dokwe North-East and the Sinkwe target, with three holes drilled at Sinkwe and five at Dokwe North-East. Sample batches, totalling 880 so far, have been submitted to Antech Laboratory in Zimbabwe, with further batches to follow as drilling progresses.

Dokwe Mineral Resource Context
The Dokwe Project currently hosts an in-pit Mineral Resource Estimate of 1.93Mt at 1.61g/t Au for 100,000oz Au at Dokwe Central, and 42.97Mt at 0.95g/t Au for 1.316Moz Au at Dokwe North (JORC 2012). These resources were last reported on 4 March 2025, using cut-off grades of 0.3g/t Au and 0.6g/t Au.

Share Price Snapshot
AAU was trading at GBX 1.50 per share as of 12 December 2025.