October 12, 2026
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Ariana Resources Advances Dokwe Gold Project Toward Definitive Feasibility Study

Ariana Resources has reported significant gold intersections from its wholly owned Dokwe Gold Project in Zimbabwe, as the company progresses metallurgical testing, resource conversion and engineering work toward a Definitive Feasibility Study (DFS) targeted for early 2027.

Recent diamond drilling at Dokwe Central returned 98 metres grading 2.85 grams per tonne gold from 91 metres, including a higher-grade interval of 1 metre at 93.72 g/t gold. Further results from Dokwe North included 24 metres at 4.71 g/t gold, with 2 metres at 46.95 g/t, while a separate intersection returned 68 metres grading 2.03 g/t gold.

Drilling Supports Feasibility Work

The latest results come from a 2,822-metre, 15-hole diamond drilling programme. Rather than focusing solely on expanding the exploration footprint, the programme was designed primarily to generate representative material for metallurgical testing and provide information required for ongoing technical studies. This marks an important stage in the development of Dokwe as the project advances from resource definition toward detailed engineering and feasibility assessment.

Ariana has sent approximately eight tonnes of representative mineralised material to China for feasibility-level metallurgical testing by Hongkong Xinhai Mining Services. The testing is expected to generate data on gold recovery, ore processing characteristics and flowsheet design. These results will form part of the technical foundation for the DFS and will also contribute to the eventual conversion of the mineral resource into a mineral reserve.

Dokwe Resource Contains 1.6 Million Ounces

The Dokwe project currently has a mineral resource of approximately 62.47 million tonnes grading 0.80 g/t gold, containing around 1.60 million ounces of gold. Ariana has indicated that it is funded to complete the principal technical programmes required for the DFS during the first quarter of 2027. Alongside the feasibility work, exploration has continued to provide evidence that the mineralised system extends toward the northeast. This could provide additional opportunities for resource growth while the company advances the existing resource toward development.

Metallurgy Becomes Increasingly Important

The latest drilling provides further information about the distribution and grade of gold mineralisation across Dokwe, but the project’s future economics will depend on more than individual high-grade intersections. Broad mineralised zones containing higher-grade sections could provide greater flexibility during mine planning. However, the commercial value of the resource will ultimately depend on factors including metallurgical recovery, processing requirements, operating costs, mine design, infrastructure needs and the portion of the resource that can be converted into mineable reserves.

The metallurgical programme in China is therefore a key component of the next stage of the project. Determining how efficiently the contained gold can be recovered through an economically viable processing route will provide important inputs for the DFS and the project’s eventual development model.

DFS to Define Development Economics

As Dokwe moves closer to feasibility, the focus is shifting from establishing the presence of gold mineralisation to determining whether the resource can support a commercially viable mining operation. The planned DFS is expected to provide more detailed estimates of capital expenditure, operating costs, production rates, mine life and processing performance. Those parameters will be central to evaluating the development potential of the approximately 1.6-million-ounce gold resource.

For Ariana, the progression of metallurgical, engineering and resource-conversion programmes represents a move toward a more defined development scenario for Dokwe. The latest drilling results add further evidence of substantial gold mineralisation, while the ongoing technical work is intended to establish how that mineralisation could translate into recoverable ounces and a mineable reserve. With representative samples already undergoing feasibility-level testing and the main DFS programmes funded into early 2027, Dokwe is entering a development phase in which processing performance, engineering requirements and project economics will become increasingly important alongside further exploration.

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