Ariana Resources PLC (AIM:AAU) said its Asgard Metals Fund has seen "significant developments" from its portfolio of mining companies since November.
In Zimbabwe, due diligence drilling is underway at the Dokwe gold project, with Asgard increasing its investment in operator Rockover Holdings to around 2.1% by investing a further US$150,000.
Kerim Sener, Ariana’s managing director, added: "We have elected to increase our position in Rockover Holdings as we conclude the Dokwe Gold Project due diligence drilling programme.
“The initial technical results of this programme achieved, as expected, a positive outcome; although assays remain for completion in due course.
“We are now evaluating further involvement in the feasibility-stage project that contains 1.3Moz gold in JORC Resources and we are in discussions with Rockover Holdings with respect to the company and its assets."
Elsewhere, Asgard’s holding in Panther Metals is now around 5.5% following an agreement to extend consulting input by a further year.
Sener added that Panther Metals is moving towards a revised mineral resource estimate and an associated scoping study for the Coglia nickel-cobalt project in Western Australia.
Pallas Resources, meanwhile, has arranged an option and joint venture agreement with First Quantum Minerals (TSX:FM) and secured BHP funding through the Xplor programme.
The First Quantum deal will initially cover the Aktogay West (377 sq Km) copper project.
"Pallas Resources has also been selected as one of only six companies representing the 2024 BHP Xplor cohort in a process which involved over 500 applicants," Sener added.
“Pallas Resources will receive up to US$500,000 in non-dilutive funding from BHP, which is earmarked for the acceleration of exploration over a defined area of interest for significant copper systems in Kazakhstan.”
Ariana owns 100% of the Asgard Metals Fund.