Source - Alliance News

Ariana Resources PLC - London-based mineral exploration and development company with gold mining interests in Africa and Europe - Notes a recent mineral resource suggests an expanded mining scenario of 75,000 to 100,000 ounces production over 10 to 15 years as part of the definitive feasibility study. Says revised pit optimisations have increased the in-pit resources by 16%, with measured and indicated resources now at 1.33 grammes of gold per tonne for 1.2 million ounces of gold. Adds that the pre-feasibility study’s proposed a production rate of 60,000 ounces per year and a 12-year mine life could be increased significantly.

Managing Director Kerim Sener says: ‘Strategically, we are considering the development of the Dokwe Project in two stages, with Dokwe Central potentially being mined during the early years of the operation and Dokwe North taking over in future years.’

Current stock price: 2.30 pence per share, up 7.0% on Wednesday afternoon in London

12-month change: up 2.2%

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