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Ariana Resources Plc Provides Update On Dokwe Project Feasibility Activities
Ariana Resources plc, the mineral exploration and development company with gold project interests in Africa and Europe, has announced an update on field and other technical programmes that are underway at its 100% owned Dokwe Gold Project ("Dokwe" or "the Project") in Zimbabwe, which are contributing toward the Definitive Feasibility Study ("DFS"). Metallurgical Sampling and Testwork ("MST") Agreement completed with Hongkong Xinhai Mining Services ("Xinhai") to provide diamond drilling and Phase 1 metallurgical testwork for AUD 1 million in Ariana CDIs. Metallurgical testwork diamond drilling programme underway at Dokwe North, utilising two drill rigs overseen by Xinhai. Geotechnical diamond drilling programme utilising an independent third drill rig underway at Dokwe Central. Completion of an update to the 2022 Pre-Feasibility Study ("PFS"), including the Dokwe North and Dokwe Central deposits, is expected in the current quarter. A range of field and other technical programmes is underway to support the DFS, currently expected for delivery in First Quarter 2027. Tailings, waste management and water balance studies are underway. Core scanning unit, BoxScan, has arrived on site and will be used to take a range of detailed measurements of drill core from the programmes. Review of existing 1.12 million ounces at 1.52g/t Au (at a 0.6g/t Au cut-off) Measured, Indicated & Inferred JORC Resource estimate planned for Second Half 2026, will underpin the DFS. Ariana has initiated several studies that have contributed to the Dokwe Feasibility Study. A Metallurgical Sampling and Testwork Agreement has now been completed with Hongkong Xinhai Mining Services ("Xinhai"), which forms part of their AUD 11 million investment into Ariana announced on 22 December 2025. The MST covers a 2,370m metallurgical drilling programme and the first phase of the metallurgical test work. Geotechnical drilling at Dokwe Central, along with water balance and tailings management studies are also underway. Ariana's core scanner, BoxScan, has arrived at Dokwe and will be used to assist the team in collecting a range of data on both the upcoming and historical drill core. Ariana and Xinhai have now entered into the MST Agreement to advance the Dokwe metallurgical test work. The MST, which is worth AUD 1 million and is to be paid in Ariana CDIs by the end of May 2026, will see Xinhai undertake 2,370m of drilling, with the drill core sent to Xinhai's metallurgical testwork laboratory in Yantai, China for metallurgical test processing. Perth-based, Independent Metallurgical Operations Pty. Ltd. ("IMO"), which is Australia's largest metallurgical group (owned by SGS), will perform some external tests and oversee the programme to ensure compliance with industry standards, specifically JORC 2012. The drill holes have been planned jointly by Ariana, IMO, and Xinhai to deliver a range of ore types and gold grades to evaluate the mining schedule and deposit variability, and to determine the optimum processing route in accordance with IMO's designed testwork flow sheets. Five holes for 1,250m will be drilled at Dokwe Central, with the drill core being used for geotechnical studies. The Dokwe North geotechnical work was completed by Open House Management Solutions ("OHMS") as part of the 2022 PFS, and OHMS will also undertake the Dokwe Central study. New core storage and core logging facilities have been erected on site in preparation for the increased level of activity and the detailed structural logging required of all of the new drill core. A detailed desk-top study has been completed by Wellfield Consultancy Services, which summarises many wide-ranging reports on the groundwater potential for the district within the Eastern Kalahari-Karoo Transboundary Aquifer system. Preparations are being made for a geophysical programme to identify the optimum bore field, which will be followed by drilling several test boreholes. Furthermore, Ariana is initiating a borehole sampling programme in the vicinity of Dokwe to establish baseline fluctuations in water quantity and quality as a result of seasonal climate conditions. Knight Piesold UK are undertaking a gap analysis in preparation for a detailed study to determine the optimum storage of tailings, water optimisation, and to characterise waste-rock materials. The Company's core scanning unit, Geotek BoxScan, has been shipped to the Dokwe site from Türkiye and is in the process of being installed. The BoxScan carries out a range of measurements, such as XRF for chemistry, TerraSpec for mineralogy, Magnetic Susceptibility for the magnetic properties of the rock, ultra-high definition core photography, RGB line scan data and laser-based core topography for structural measurements. The team plans to analyse the core from the current programmes with the intention of then progressing on to the historical core. The results will be particularly useful for determining alteration minerals, timing of mineralisation, and structural controls. This will not only benefit the mining and processing studies at Dokwe but will also feed into the wider exploration models. PROJECT CLASSIFICATION (REPORTING CUT-OFF GRADE 0.3g/t Au) TONNAGE (t) GRADE (g/t Au) CONTAINED GOLD (oz) Dokwe North Measured 17,309,000 1.06 592,000 Indicated 18,562,000 0.90 537,000 Inferred 7,095,000 0.82 187,000 Total 42,966,000 0.95 1,316,000 Dokwe Central Indicated 1,811,000 1.60 93,000 Inferred 120,000 1.69 7,000 Total 1,931,000 1.61 100,000 Total Measured 17,309,000 1.06 592,000 Indicated 20,373,000 0.96 631,000 Inferred 7,214,000 0.83 193,000 TOTAL 44,896,000 0.98 1,416,000 PROJECT CLASSIFICATION (REPORTING CUT-OFF GRADE 0.6g/t Au) TONNAGE (t) GRADE (g/t Au) CONTAINED GOLD (oz) Dokwe North Measured 10,220,000 1.50 493,000 Indicated 8,260,000 1.50 399,000 Inferred 3,123,000 1.33 134,000 Total 21,604,000 1.48 1,025,000 Dokwe Central Indicated 1,207,000 2.19 85,000 Inferred 98,000 1.98 6,000 Total 1,306,000 2.18 91,000 Total Measured 10,220,000 1.50 493,000 Indicated 9,468,000 1.59 484,000 Inferred 3,222,000 1.35 140,000 TOTAL 22,909,000 1.52 1,116,000 The Dokwe Mineral Resource Estimate is reported in accordance with the JORC Code. Reported using cut-offs grades of 0.3g/t Au and 0.6g/t Au As at 4 March 2025. The Dokwe Mineral Resource Estimate is inclusive of Reserves.
