Ariana Resources PLC (AIM:AAU) provided a double boost for investors, confirming it has kicked off its bid to raise A$10-A$15 million through an ASX listing and revealing drilling at its Zimbabwe has uncovered ‘bonanza’ grades of gold.
The AIM-listed miner said the new capital would help fund fresh exploration, including a drilling programme at Dokwe.
This will follow up on intercepts that included eight metres at 197.22 grams per tonne of gold, with one metre running at an exceptional 1,568 grams per tonne.
Other recent results featured 14 metres at 54.75 grams per tonne and 85 metres at 5.23 grams per tonne, figures well above standard commercial thresholds and regarded in the industry as outstanding.
Ariana is also progressing at its Tavsan mine in Türkiye, where the new processing plant has reached operational status and is ready for gold production using a heap-leach method.
Final government inspections are expected soon, paving the way for first output.
Managing director Kerim Sener said the timing of the ASX offer coincides with strong gold prices and operational momentum at Tavsan, where final commissioning is underway.
The company also holds interests in two producing Turkish mines and full ownership of the feasibility-stage Dokwe project.
Ariana expects to update the market as the ASX listing advances and Zimbabwe drilling restarts, positioning the company to benefit from what it describes as “the strongest gold price environment ever experienced”.