Shares in Ariana Resources PLC (AIM:AAU) rose 9% on Wednesday afternoon after the miner announced plans to significantly expand its exploration footprint in Kosovo.
Ariana’s 76%-owned subsidiary, Western Tethyan Resources (WTR), has applied to extend the Hertica Porphyry Project by an additional 30,000 square kilometres.
The move follows WTR’s recent acquisition of a 51% stake in the nearby Slivova Gold Project, where licensing formalities are still in progress.
Ariana’s managing director, Kerim Sener, said WTR is “planning for the next stage of technical work” at both Hertica and Slivova, while also exploring new opportunities in North Macedonia and Bulgaria.
WTR managing director Mentor Demi described Hertica as a “high-priority target” and said the extension application allows for continued progress, including preparation for drill-ready zones.
He added that the Slivova project represents a “near-term opportunity” as the group awaits regulatory confirmation.
The developments mark a growing regional push by Ariana into the Balkans.
The shares rose 0.089p to 1.11p.