New Discoveries at the Dokwe Project

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to provide an update on new exploration being undertaken across the 100% held Dokwe Gold Project in Zimbabwe, focusing on areas for which resources have not yet been defined. Several opportunities have been identified to date.

Highlights:

• Soil sampling and pXRF analysis at Dokwe South have led to the discovery of a quartz vein breccia.
• A preliminary rock-chip sampling programme of 22 samples returned seven samples showing >10.0g/t silver, peaking at 35.2g/t silver.
• A new regional pXRF soil sampling programme is underway which will ultimately cover the whole claims area.
• Regional exploration and resource infill drilling is in the final stages of planning; all prospects at the Dokwe Project are within 7km of where the Dokwe processing plant is expected to be located.
• Kerim Sener, Managing Director, commented:

"Our recent exploration work across the Dokwe Project is already yielding positive results which is continuing to build on the exploration upside of this opportunity. Work undertaken near Dokwe North and Central has identified the potential for resource blue sky and the broader prospectivity of the project area has increased following the exploration results outlined here. We look forward to updating the market as we develop our work at the Dokwe Project."

Background

In recent months, the geology team have been assessing the prospectivity of the wider Dokwe Project in areas previously less explored and away from the two gold deposits defined to date. The prospective Archaean rocks at the Dokwe Project were buried, deformed, metamorphosed, and mineralised, before being uplifted and partially eroded to form a basin into which the post-Permian Karoo sedimentary and volcanic rocks were deposited. The Karoo aged rocks and the later Kalahari sediments form a cover layer over the Archaean rocks, ranging in thickness from zero to a few metres at Dokwe South, gradually thickening northwards to be about 40 metres at Dokwe North (Figure 1).

Considering the successful recognition of arsenic and copper in the soils, Ariana has commenced a regional pXRF programme, which ultimately will provide total coverage for a range of pathfinder elements across the entire claims area (42km2). Furthermore, soil samples have been collected along two orientation lines over the known deposits, which are to be analysed by detectORETM at the Dokwe site laboratory, to evaluate the potential for this technique to detect subtle gold and silver anomalies in the cover rocks. Of particular interest is a copper anomaly that was followed up by Ariana during a reconnaissance pXRF soils programme at Dokwe South.

Figure 1: Map and schematic cross-section highlighting the nature of Karoo cover across the Dokwe Project.

Maboe Prospect: Dokwe South

The Maboe Prospect is situated 7km south of Dokwe North, in an area of broad gold, copper and silver anomalism delineated during the original Dokwe soil sampling programmes in the early 2000s (Figure 3). Ariana has recently followed up on these original results with pXRF soil sampling, which has confirmed a significant coincident copper anomaly. The spatial association of the gold and copper anomalism in soils is interpreted to reflect a proximal source, located along a subtle change in topography on the southern flank of the anomalies.

Further field investigations have identified a quartz vein breccia along a subtle east-west ridge that is intermittent over a strike length of approximately 600m. The initial interpretation of the host rock is that it is a strongly brecciated and silicified felsic volcanic rock. Fine to medium-grained disseminated sulphides are observed and interpreted to have been introduced during silicification.

Twenty-two rock chip samples were collected over a strike length of 300m, and analysed for gold, silver and copper. Assay results have been received, and whilst the gold values are low, several of the samples contain significant amounts of silver with seven samples returning >10.0g/t silver, and the highest returning 35.2g/t silver. It should be noted that the in-country laboratory used is not yet accredited for silver assays, and some uncertainty is to be expected with the silver results. External lab checks will be completed in due course.

Figure 2: Gold in soil contour (1.2ppb Au) that led to the discovery of the Dokwe North and Central gold deposits.

Figure 3: Gold anomaly map defined from historic soil sampling, with pXRF soil sample points shown. Rockchip sample locations shown over the outcropping quartz vein breccia at the Maboe Prospect.

Figure 4: pXRF copper anomalies in soil over the Maboe Prospect area.

Figure 5: Rock chip samples from the Maboe Prospect, Dokwe South, displaying silver in ppm.

Figure 6: Maboe Prospect; Top left, looking west along the sub-cropping quartz vein breccia; Top right, a boulder of quartz vein breccia; Bottom, hand specimens of breccia (l) and siliceous host rock (r).

Siduli Pan

To the northeast of the Maboe Prospect, a second broad zone of gold anomalism is identified from the soil sampling programmes at Siduli Pan. This area has seen some follow-up exploration, including very limited drilling, and presents a significant target area for further drill testing, where the cover is predicted to be less than 20m thick.

The Siduli Pan Prospect is highlighted by a significant gold soil anomaly that was delineated in the original soil sampling programmes (Figure 2). The thickness of cover in the area ranges from 11 to 18m. Two geophysical programmes with sparse follow-up drilling were conducted in the area in 2003/4, and 2018/19.

The first geophysical programme comprised ten N-S-orientated IP lines, which identified several chargeability and resistivity highs and lows. Two drill holes, DSD1 and DSD2 were drilled to test two of these (Figure 6). DSD2 intercepted a narrow (5cm) quartz vein with significant chalcopyrite which returned an intercept of 81.1g/t Au over 0.5m from 243m down-hole depth. Given that the Dokwe North and Central deposits extend from such depths to surface, this area represents an exploration target worthy of further investigation.

Figure 7: Plan view (top) and north-south section through the Siduli Pan target area as initially defined by conventional soil analyses. Drill targeting was undertaken following an IP geophysics study. Chargeability anomalies were targeted by historic drilling.

The second geophysical programme extended 500m westwards from the first. This was followed by six drill holes, five to approximately 100m depth, and the sixth to 300m depth. Although no economic gold values were recorded, the drilling confirmed the presence of felsic tuff and andesite in the area, which are important host rocks for mineralisation at Dokwe North.

The broad soil anomaly, deep intercept and prospective rock types indicate Siduli Pan is another significant exploration target in the Dokwe Claims Area, as Ariana widens its exploration focus in the search for additional mineralisation to complement the Dokwe North and Dokwe Central deposits which are progressing towards development and production.

Summary

Reconnaissance exploration work across the Dokwe Project is at an early stage, yet positive results are already being achieved. The Maboe prospect has been identified and shown to be anomalous in silver. PortablePPB has been developing the analytical method to extend its capability to include ppb-level silver analysis, presenting an opportunity for the anomalous silver in this area to be investigated further using the on-site detectORETM laboratory in the future. A regional soil sampling programme has commenced, with samples to be analysed by a mix of conventional analytical methods, pXRF, and the detectORETM technique. This will ultimately provide full cover over the Dokwe claims area for a range of pathfinder elements and focused low-level gold and silver detection.

Sampling and Assaying Procedures

All samples are processed at the ISO-credited Antech Laboratory in Zimbabwe. As part of Ariana's normal operational procedures, samples were sent for analysis in batches in line with the Company's quality control protocols. In this phase of sampling, a total of 28 samples (including 5 QA/QC samples) were submitted to the Antech Laboratory.

All samples were assayed for gold using a 50g fire assay, with copper and silver results provided by AAS (Atomic Absorption Spectrometry). Reviews of the gold assay results have determined that all Quality Control and Quality Assurance samples (blanks, standards and duplicates) passed the quality control checks established by the company. Laboratory sample preparation, assaying procedures and chain of custody are appropriately controlled.

Antech Laboratory is not yet accredited for silver assays, and therefore some uncertainty is to be expected with the silver results. External lab checks will be completed in due course.

Editors' Note:

"k" thousand

"km" Kilometres;

"m" Metres;

"M" million

"oz" Troy ounces;

"t" tonnes;

Ends.