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Highlights

  • Exploration Expansion: Ariana’s subsidiary, WTR, seeks to expand the Hertica Porphyry Project by 30,000 km².

  • Strategic Acquisitions: WTR recently acquired a 51% stake in the nearby Slivova Gold Project, boosting its regional presence.

  • Balkan Focus: Ariana is eyeing new exploration opportunities across North Macedonia and Bulgaria, intensifying its regional footprint.

Shares in Ariana Resources PLC (LSE:AAU) surged by 9% on Wednesday following a key announcement outlining the company’s plans to deepen its exploration efforts across Kosovo and the wider Balkan region. The rise came after its 76%-owned subsidiary, Western Tethyan Resources (WTR), formally applied to extend the Hertica Porphyry Project by an additional 30,000 square kilometres.

The extension application represents a bold move by Ariana to secure long-term exploration potential in a region known for its underexplored mineral systems. Located in northern Kosovo, the Hertica project is regarded as a high-priority asset for the group, with WTR actively preparing for its next phase of technical assessments, including drill-ready targets.

The announcement follows WTR’s recent acquisition of a 51% stake in the nearby Slivova Gold Project, signalling Ariana’s growing commitment to establishing a strategic presence in the western Balkans. While licensing formalities at Slivova are still ongoing, the project is considered a near-term opportunity, with Ariana anticipating regulatory approvals in the coming months.

Mentor Demi, Managing Director of WTR, echoed the company’s optimism, highlighting Hertica as a “high-priority target” and emphasizing that the land extension will allow for steady progress on-site. “We are continuing to work through the process of defining drill-ready zones at Hertica,” Demi noted. “Meanwhile, Slivova represents a near-term opportunity as we await confirmation from the relevant authorities.”