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UK exploration company to acquire mine in Zimbabwe

by Staff reporter
08 Jun 2024 at 15:48hrs | Views
Ariana Resources Plc, a UK-based precious metals exploration company, has agreed to acquire a 100% stake in Zimbabwe's Dokwe Mine.

This acquisition complements Ariana's primary operations in Turkey and the wider European and Eastern Mediterranean regions. The Dokwe Mine is located in Matabeleland North.

Ariana secured the mine through a merger with Rockover Holdings Ltd, in which it currently holds a 2.1% stake. As part of their due diligence, Ariana completed four diamond drill holes, confirming significant gold mineralization at Dokwe North and Central deposits.

Managing Director Kerim Sener noted that these drilling results are crucial for estimating the resources at Dokwe.

The company is finalizing its technical program and preparing a revised Mineral Resource Estimate, with plans to announce the new estimate before a general meeting to approve the merger with Rockover.

Source - newzimbabwe