Technical Update

African Consolidated Resources Plc ("ACR" or "the Company") Technical Update, 1 December 2009 African Consolidated Resources Plc is pleased to announce a detailed technical update in respect of further work carried out since ACR's last technical report of 23 February 2009 at the Company's Pickstone-Peerless gold project, Gadzema Belt gold exploration, Chrishanya phosphate project and Cedric copper project. This technical update, including maps and technical diagrams, will be available to download from the Company's website: www.acrplc.com Work since the publication of the Company's last technical report has focussed on progressing the Peerless Sulphide dumps and oxide pit further towards production, on RAB drilling and improved understanding of gold mineralisation models in the Gadzema belt, and on delineation of the Chishanya rock phosphate deposit. Surface mapping and pitting has also defined drill targets at the Cedric copper project. Pickstone-Peerless Gold Project In parallel with the engineering development of the Peerless sulphide dump treatment project, shallow infill RC drilling was carried out on the oxide cap over the historic Peerless mine to obtain bulk samples for metallurgical and grind index testing, and to improve confidence in the oxide JORC Resource. Previous work on the Peerless oxide cap has shown good gold recoveries (85-96%), and 2004 estimates by SRK consultants reported a JORC Resource of 56,000 oz Au at 2.5 g/t (comprising 25,600 oz at 3.7 g/t Inferred, and 30,400 oz at 2.0 g/t Indicated) within the Peerless oxide zone. ACR completed 18 RC holes in September 2009, totalling 826m, infilling existing drill lines on generally 30m linespacing. All recent drill assays are now to hand and orebody modelling by independent consultants incorporating the new assays will commence immediately. Due to the relatively permeable host rock, the oxide zone was observed to be well developed to between 30m and 40m depth in most cases. Extractive test work will also be carried out on the transitional ore beneath the oxide cap to determine recoveries at deeper levels. Significant intercepts* from the September '09 drilling include; +--------------------------------------------------------------------------+ | | | | | | Depth | |-----------+--------+---------+-------+-----------+-----------------------| | Hole ID | E UTM | N UTM | Grade | Thickness | From (m | To (m | | | | | (g/t) | (m) | downhole) | downhole) | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC 100 | 204215 | 7975607 | 4.12 | 37 | 7 | 44 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC 96 | 203976 | 7975599 | 2.9 | 24 | 12 | 36 | |-----------+--------+---------+-------+-----------+-----------+-----------| | Including | | | 4.4 | 14 | 12 | 26 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC99 | 204773 | 7975609 | 1.8 | 16 | 30 | 46 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC98 | 204034 | 7975614 | 10.8 | 12 | 34 | 46 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC97 | 204006 | 7975614 | 2.3 | 11 | 29 | 40 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC95 | 203910 | 7975595 | 4.4 | 9 | 23 | 32 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC91 | 203801 | 7975585 | 5.8 | 5 | 19 | 24 | |-----------+--------+---------+-------+-----------+-----------+-----------| | PERC90 | 203770 | 7975575 | 2.0 | 6 | 7 | 13 | +--------------------------------------------------------------------------+ * Intercepts calculated at 0.5 g/t lower cutoff, no top cut, and include up to 2m of internal waste. Assays are by Fire Assay method (Antech Laboratories) at 1 metre intervals, with 10% ISO-accredited standards inserted for QAQC. As expected, thick oxide intercepts were encountered in the "Big Pit" zone in the centre of the trend, where the steeply dipping primary lodes are particularly well developed. In general the drilling confirmed earlier mineralisation models. As announced on 4 November 2009, ACR has concluded a contract with subsidiaries of TWP Holdings Limited ('TWP') for the production of gold from its sulphide concentrate dump at Pickstone. As previously reported, the sulphide concentrate dump contains an estimated resource of 28,300oz Au (200,000 tonnes at 4.4g/t). Production is planned to commence in April or May 2010 and achieve full production in June 2010, with a throughput of 20,000 tonnes per month. On the basis of a targeted recovery rate of 73% and allowing for further possible processing losses of up to 10%, targeted production is estimated to be approximately 1,815oz per month. Gadzema Belt Gold exploration Exploration since the publication of the Company's last technical report has focussed on the 5 km strike length of claims between the Giant Mine and the highly encouraging stockwork mineralisation discovered at the Blue Rock prospect last year. ACR has carried out detailed mapping using high-resolution airborne aeromagnetics and radiometrics flown late last year. The radiometrics in particular have proved extremely useful in mapping the felsic intrusive rocks that host the wide stockwork mineralisation discovered at Blue Rock. This improved geological understanding has allowed accurate RAB drill testing of the felsic units to be undertaken in the last [three months]. A total of 161 RAB drillholes totalling approx 2400m were completed in the period. Best results were along a parallel structural trend about 1 km NNE of Blue Rock. Significant intercepts include; +-------------------------------------------------------------------+ | | | | Depth | |---------+-----------+--------------+------------------------------| | Hole ID | Grade | Thickness | From (m | To (m | | | (g/t) | (m) | downhole) | downhole) | |---------+-----------+--------------+---------------+--------------| | BRRA | 3.4 | 12 | 3 | 15 | | 342 | | | | | |---------+-----------+--------------+---------------+--------------| | BRRA | 5.8 | 9 | Surface | 9 | | 343 | | | | | |---------+-----------+--------------+---------------+--------------| | BRRA | 1.3 | 9 | 3 | 12 | | 345 | | | | | +-------------------------------------------------------------------+ * Intercepts calculated at 0.5 g/t lower cutoff, no top cut, and include up to 3m of interna
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