Interim Drilling Results - Gadzema and Pickston...

African  Consolidated  Resources  Plc,  the  AIM listed resource and development
company focussed in Zimbabwe, is pleased to announce that since the release of a
Technical  Report  on  29 October,  2010, further high-grade drill intersections
have  been  received  from  the  Giant  and  Blue  Rock prospects in the Gadzema
Project,  and from  the Peerless  Oxide prospect  at the Pickstone-Peerless Gold
Project.

At  the Giant Mine, initial Au assay results for RC drill holes GNRC 133-153 and
diamond  drill holes  GNDD 01-11 (completed  last August)  have returned several
significant  intersections.  The drilling  programme was designed  to extend the
current  JORC  Resource  of  300,000 oz  to  depths of approx 200m below surface
around the old mine workings, and along strike to the south, where a mineralised
diorite  body intrudes the main Banded Iron Formation host of the original Giant
Mine.

Table 1 - Significant intercepts, Giant Mine

+-------+--------+------+-------------+-------------------------------------+
|Hole ID|From (m)|To (m)| Intercepts  |       Location of Intercepts        |
+-------+--------+------+-------------+-------------------------------------+
|       |   94   | 100  | 6m @ 4.90g/t|                                     |
|GNRC135+--------+------+-------------+Southern mine area - depth extensions|
|       |  109   | 115  | 6m @ 2.39g/t|                                     |
+-------+--------+------+-------------+-------------------------------------+
|GNRC136|  121   | 126  | 5m @ 3.32g/t|Southern mine area - depth extensions|
+-------+--------+------+-------------+-------------------------------------+
|GNRC142|  120   | 125  | 5m @ 3.71g/t|Central mine area - depth extensions |
+-------+--------+------+-------------+-------------------------------------+
|GNRC145|  163   | 180  |17m @ 4.24g/t|Central mine area - depth extensions |
+-------+--------+------+-------------+-------------------------------------+
Im  fire assays at  0.5g/t lower cut, includes  up to 2m internal  waste, no top
cut.

Assays for the remaining holes, including all the diamond core holes, are
awaited.

See Figure 1 - Giant Mine Project - Initial Drilling Au Assay Results

At the Blue Rock prospect, 5km south of the Giant Mine, gold assay results for a
further  6 holes (BRRC  94-99) in the  southern area  of the  Berks claims block
returned thin high grade intersections at shallow depths.  Results for a further
9 holes (BRC 100-108) are awaited.

Table 2 - Significant intercepts, Blue Rock

+---------+----------+--------+---------------+-------------------------+
| Hole ID | From (m) | To (m) |  Intercepts   | Location of Intercepts  |
+---------+----------+--------+---------------+-------------------------+
| BRRC094 |    31    |   32   | 1m @ 46.00g/t | Southern Berks prospect |
+---------+----------+--------+---------------+-------------------------+
| BRRC096 |    10    |   11   | 1m @ 12.62g/t | Southern Berks prospect |
+---------+----------+--------+---------------+-------------------------+
1m fire  assays at  0.5g/t lower cut,  includes up  to 2m internal waste, no top
cut.

See Figure 2 for drilling assay results

At  the  Pickstone-Peerless  project,  30 km  south  of the Giant Mine, vertical
large-diameter diamond core holes were drilled down the plane of the vein at the
Peerless oxide deposit.  This was to increase confidence in the results from the
RC   resource-drilling   programme,   to   obtain   core  for  geotechnical  and
metallurgical  test work and  to provide accurate  specific gravity measurements
for final Resource calculations.

The  Peerless  JORC  Resource  currently  stands  at 4.6 m tonnes at 1.4 g/t for
210,000 oz.   Initial sampling was focussed on  the oxide and transitional zones
to  a depth of  approximately 50m, in order  to assist planning  on a conceptual
Peerless  oxide pit.  Gold  results received from  three of the  five holes have
returned   broad   zones   in   the  oxide  and  transitional  zones  containing
significantly higher grades than the current orebody model predicted.

As the holes were drilled parallel to the vertical-dipping orebody, the reported
thicknesses  do not  represent true  widths, but  they do confirm consistency of
mineralisation  from the surface, through the oxide and transitional zones.  The
average  grade  of  all  assays  including  internal waste was 2.9 g/t, which is
significantly higher than the modelled grade of 1.4 g/t.

These  holes were drilled in the central ("Big Pit") area of the Peerless trend,
where  mineralisation is  known to  be well  developed, however these zones have
proved to be consistent along strike for at least 170m.

Table 3 - Significant intercepts, Peerless Oxides

+-------+--------+------+------------+-----------------------------------------+
|Hole ID|From (m)|To (m)| Intercepts |         Location of Intercepts          |
+-------+--------+------+------------+-----------------------------------------+
|       |        |      |            |Central  part of  the "Big  Pit" area and|
|PEDD002|   6    |  44  |38m @ 4.4g/t|the Peerless Trend                       |
+-------+--------+------+------------+-----------------------------------------+
|       |        |      |            |Eastern  edge of  the "Big  Pit" area and|
|PEDD004|   0    |  28  |28m @ 2.0g/t|the Peerless Trend                       |
+-------+--------+------+------------+-----------------------------------------+
|       |   2    |  17  |15m @ 1.1g/t|                                         |
|       +--------+------+------------+Central  part of  the "Big  Pit" area and|
|PEDD005|   21   |  36  |15m @ 6.6g/t|the Peerless Trend                       |
|       +--------+------+------------+                                         |
|       |   39   |  51  |12m @ 3.9g/t|                                         |
+-------+--------+------+------------+-----------------------------------------+
Im  fire assays at  0.5g/t lower cut, includes  up to 2m internal  waste, no top
cut.

Geotechnical work on the Peerless oxide pit is ongoing.

This  announcement has  been reviewed  by the  Company's Exploration  Manager Dr
Houda  Bouammar (PhD).  Dr Bouammar meets the definition of a "qualified person"
as defined in the AIM Note for Mining, Oil and Gas Companies.

                                    **ENDS**

For further information visit www.acrplc.com or please contact:

 Andrew Cranswick    African Consolidated Resources plc   [phone]

 Roy Tucker          African Consolidated Resources plc   [phone]
                                                          [phone]

 Richard Swindells   Ambrian Partners Limited             [phone]

 Jen Boorer          Ambrian Partners Limited             [phone]

 Hugo de Salis       St Brides Media & Finance Ltd        [phone]

 Susie Geliher       St Brides Media & Finance Ltd        [phone]




[HUG#1462779]





See Figure 2 for drilling assay results : 


http://hugin.info/138338/R/1462779/401670.jpg

Figure 1 – Giant Mine Project – Initial Drilling Au Assay Results: 


http://hugin.info/138338/R/1462779/401669.jpg




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