Update

African Consolidated Resources Plc / Index: AIM / Epic: AFCR / Sector: Mining
1 February 2010
          African Consolidated Resources Plc ('ACR' or 'the Company')
                                     Update

African  Consolidated Resources Plc, the AIM  listed resource company focused in
Zimbabwe,  is pleased to announce a  technical update on its extensive portfolio
of primarily gold, nickel, platinum, diamond and rock phosphate projects.

Overview:

  * Aggressive  resource development plan initiated  following circa US$16m fund
    raising in November 2009
  * Over 38,000m have this week been awarded to Zimbabwean drilling companies
  * Aiming  to significantly increase  existing gold resource  base at the Giant
    (300,000 oz Au) and Pickstone (513,000 oz Au) mines
  * 18-month drilling campaign with a target to bring four projects up to maiden
    JORC Resource status by December 2010
  * Blue Rock maiden JORC Au resource targeted for April
  * 14 sq  km target  area at  Horseshoe Project  to determine  the near surface
    nickel laterite resource - JORC resource by late Q4 2010
  * Chishanya JORC resource planned for late 2010 - average P2O5 grade currently
    14% from initial testing
  * 1,400m strike  of  surface  copper  mineralisation  over the old Cedric mine
    workings being evaluated
  * Heli-borne  electromagnetic programme  VTEM system  is planned  to cover the
    35km long nickel prospective horizon of the Perseverance Greenstone Belt
  * Production  from the Peerless  Sulphide Dump (200,000t  at 4.2 g/t) targeted
    late May 2010
  * Additional   initial  53,500 oz  Resource  calculations  on  the  Oxide  and
    Transitional cap on the Peerless Mine


African  Consolidated Resources CEO Andrew Cranswick  said, "We are making rapid
progress  in  implementing  our  development  plan,  since raising approximately
US$16m of new funding in November 2009.  ACR has planned an aggressive 18-month
drilling  campaign  and  a  target  to  bring  four projects up to a maiden JORC
Resource status by December 2010, and to increase the Resource base at the Giant
and  Pickstone gold mines which already have  a cumulative JORC resource of over
800,000 oz Au.

"Work since the publication of the Company's last technical report has primarily
focussed  on  progressing  the  Peerless  Sulphide  dumps towards production and
assessing  the  mining  economics  of  the  Peerless  oxide  cap, infill Reverse
Circulation  drilling at Blue Rock to define a maiden JORC Resource, and further
surface  sampling of the  Chishanya rock phosphate  deposit. Surface mapping and
pitting has also defined drill targets at the Cedric copper project.

"With  a highly prospective  multi mineral portfolio  of projects, a defined and
active  development plan, a strong treasury,  near term production from our gold
tailings  project and significant political progress in Zimbabwe, highlighted by
returning  foreign investment, we  are extremely excited  about the potential of
ACR.   We have been operating in Zimbabwe for many years and are positioned well
to develop the huge and recognised mineral potential of Zimbabwe."

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


 Andrew  Cranswick           African          Consolidated [phone]
                             Resources plc

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

 Richard  Greenfield         Ambrian Partners Limited      [phone]


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

 Susie Callear               St Brides Media & Finance Ltd [phone]



DEVELOPMENT DRILLING

The  Company has implemented an extensive  drilling programme aimed at advancing
the  value of  it assets.   Drilling contracts  totalling over 38,000m have this
week  been awarded to Zimbabwean drilling  companies.  The summary programme for
the next 12 months includes:

  * 19,000m of   Reverse   Circulation   ('RC')  drilling  at  the  Gadzema  and
    Pickstone-Peerless projects (gold), and the Chishanya phosphate project
  * 9,500m of  diamond  drilling  at  Gadzema  and  Pickstone-Peerless  projects
    (gold),  the Chishanya phosphate project, the Cedric copper project, and the
    Snakes Head Platinum Group Elements ('PGE') project
  * 10,000m of exploration Rotary Air Blast ('RAB') drilling on the Chakari gold
    project and on other current greenfield projects as surface results dictate


Gadzema Belt - gold

Blue Rock:  The discovery is currently being assessed by RC infill drilling to a
depth  of 150m over  a strike  of 600m, on  40m line spacing.   Since 1 December
2009, 2,400m has  been drilled;  no assays  are available  due to  the Christmas
break  but broad visible alteration logged downhole is promising.  The remainder
of  the 4,000m programme should be completed late February.  The Company expects
to declare a maiden indicated JORC resource in April 2010.

Giant  Mine:   A  2,000m diamond  drilling  programme  is planned to commence in
March,  aimed at extending the orebody at  depth.  A further 3,000m of infill RC
drilling  will follow the diamond programme targeting an increase in the current
JORC resource of 300,000oz.

Gadzema  Belt Extensions:   Encouraging RAB  drill intersections over 5km strike
length  between the  Blue Rock  and Giant  Mine projects  were obtained  in late
2009.  These  areas will be  followed up by  5,000m of RC drilling  in the first
half  of 2010.  Dependent on these results,  a further 3,000m will be drilled to
determine a JORC resource before the end of the year.

Pickstone-Peerless - gold

A  2,000m diamond drilling  programme will  be undertaken  in the second half of
2010, to  test under  the Peerless  oxide gold  resource, and to investigate the
Pickstone deeps.

Chisanya Carbonatite - phosphate

Channel  chip  sampling  and  in-house  assaying  using a Niton XRF analyser has
delineated  extensive  outcropping  phosphate-rich  ankerite  rock.   The latest
analysis  has, as reported on 1 December 2009, returned an average P2O5 grade of
14%.  This  was as  a result  of assaying  by SGS Laboratories, Johannesburg who
returned  grades  P2O5  grades  ranging  between  6-27% with a 2% cut off grade.
 Further   detailed  channel  chip  sampling  and  mapping  is  currently  being
undertaken to locate extensions to the phosphatic rocks.

A  2,000m diamond  drilling  programme  to  test the phosphate mineralisation to
200m depth  will be initiated in March.   Dependant on these results a 5,000m RC
infill  drilling programme will  commence in July,  with a view  to producing an
initial JORC resource by late Q4 2010.

Horseshoe Nickel

Pitting  on a 50 to 100m grid is being planned to cover the 14 sq km target area
to determine the near surface nickel laterite resource with a view to presenting
a   JORC  resource  before  the  end  of  the  year.   Concurrent  column  leach
metallurgical  testing will be undertaken to determine leach characteristics and
recovery.   As previously  announced, preliminary  metallurgical trials indicate
good  recoveries  (>90%),  short  residence  times  (<40  days),  and  low  acid
consumption.

EXPLORATION PROGRAMMES

Regional gold exploration

Chakari Gold: Soil sampling undertaken by ACR has outlined a number of anomalous
targets  lying on splays  of the well-mineralised  Lily Shear Zone, northwest of
the  major  Dalny  mine.   Further  mapping,  sampling  and RAB drilling will be
conducted  throughout 2010 to  identify economic  gold mineralisation  hosted in
Archean metasediments and volcanics.

Regional Diamonds

A   combination  of  ACR's  historical  diamond  database  and  recent  regional
exploration  has  defined  two  broad  areas  containing significant clusters of
kimberlite indicator minerals.

Commencing  February, 10,000 line  kilometres of  aeromagnetics and radiometrics
will be flown over these areas to detect buried kimberlite bodies.

Cedric Copper

Ongoing  mapping has  identified approximately  1,400m strike of  surface copper
mineralisation  over the old Cedric mine  workings.  This area was last explored
in  the 1960's, and  lies in  the Proterozoic  Makonde copperbelt.  Four diamond
drillholes  totalling  1,000m will  commence  late  Feb  to  test  the  down dip
extensions to a depth of 150m.  Extension drilling will be planned following the
first phase results.

Perseverance Nickel

A  heli-borne electromagnetic  programme (VTEM  system) is  planned to cover the
35km long  nickel  prospective  horizon  of  the  Perseverance  Greenstone Belt,
commencing  March. Conductors  will be  identified and  drill tested  as part of
ongoing exploration during 2010.

Snakes Head PGE

It  is proposed  that the  recently identified  Fundumwi Block  of this northern
subchamber  of the Great Dyke will be drill tested once access becomes available
in  the dry season.  The mineralogy and  ultramafic stratigraphy of the Fundumwi
Block  suggests  that  the  PGE  reefs  in  this  area  may be higher grade than
elsewhere in the chamber.  Four short diamond holes are planned to intersect the
P1 platinum reefs below the oxide zone.

PEERLESS SULPHIDE DUMP - GOLD PLANT PROGRESS

In  line  with  previous  guidance,  the  ACR joint venture with TWP Engineering
(South Africa) is progressing towards production from the Peerless Sulphide Dump
(200,000t at 4.2 g/t) late May 2010.  Site works have commenced, with the office
block  completed and  transportable accommodation  and other site infrastructure
under  construction. Contracts for earthmoving, onsite laboratories and tailings
deposition  are underway.  Orders for  equipment have  been placed  with vendors
locally and in South Africa, to be onsite in the first quarter.

Pilot  scale metallurgical  testing of  the sulphide  dump is complete with gold
recoveries  in the  range 65 -  70% observed.  This  result is within management
expectations  and  is  close  to  the  target previously reported of 73% less an
allowance  of 10% for operations scale losses  as compared with laboratory bench
test  conditions.   The  pilot  testing  also demonstrated significantly reduced
reagent consumptions compared with laboratory tests.

In  addition to the high-grade sulphide  dump, scoping studies have commenced to
investigate  the economics of  treating the Peerless  oxide cap through the same
cyanide leach plant.

Initial  Resource calculations on the Oxide and Transitional cap on the Peerless
Mine  by Hellman  and Schofield  consultants, Perth,  WA, returned the following
estimates (yet to be verified to JORC standard).

Peerless Mine near-surface mineralisation (non-JORC)
+--------------------+---------+-----------+-------------------+---------------+
|Zone                |Tonnes   |Grade (g/t)|Contained Gold (oz)|Depth    approx|
|                    |         |           |                   |(m)            |
+--------------------+---------+-----------+-------------------+---------------+
|Peerless Oxide Cap  |739,935  |1.16       |27,693             |0-40m          |
+--------------------+---------+-----------+-------------------+---------------+
|Peerless transition |748,640  |1.07       |25,795             |40-60m         |
|Ore                 |         |           |                   |               |
+--------------------+---------+-----------+-------------------+---------------+
|TOTAL               |1,488,575|1.12       |53,500             |               |
+--------------------+---------+-----------+-------------------+---------------+

Economic  modelling  studies  are  underway  to  assess  treating the deposit in
parallel with the sulphide dump.

For  a  map  showing  the  location  of  the Company's projects please paste the
following         link         into         your         internet        browser


http://hugin.info/138338/R/1378916/339228.pdf
<https://inpublic.huginonline.com/exchweb/bin/redir.asp?URL=

http://hugin.info/13
8338/R/1378916/339228.pdf> or access  the  version  of  this announcement on the
Company's website: www.acrplc.com <

http://www.acrplc.com/>:

This  announcement  has  been  reviewed  by  Mike  Kellow  BSc,  a member of the
Australian  Institute of  Geologists and  Technical Director  of ACR.  Mr Kellow
meets  the definition  of a  "qualified person"  as defined  in the AIM Note for
Mining, Oil and Gas Companies.

                                    **ENDS**


GLOSSARY OF TECHNICAL TERMS


 Term/ Acronym                         Explanation


 aeromagnetics                         magnetic   survey  carried  out  with  a
                                       sensor in an aircraft;

 archaean                              rocks greater than 2,600 Ma in age;


 argillaceous                          a sedimentary rock dominated by clay and
                                       silt-sized particles;


 Au                                    chemical symbol for gold;


 carbonatite                           intrusive  or  extrusive  igneous  rocks
                                       defined   by   mineralogic   composition
                                       consisting  of  greater  than 50 percent
                                       carbonate  minerals,  generally  calcium
                                       carbonate.   They   usually   occur   as
                                       pipelike intrusions;


 concentrate                           normally  of  metallic  minerals such as
                                       pyrite and arsenopyrite after removal of
                                       gangue;


 Cu                                    chemical symbol for copper;


 diamond drilling                      drilling       method       using      a
                                       diamond-impregnated cutting bit to
                                          obtain a core sample of rock;


 dolomites / dolomitic                 dolomite  is the name  of a  sedimentary
                                       carbonate  rock  and   a  mineral,  both
                                       composed  of calcium magnesium carbonate
                                       CaMg(CO3)2;


 electromagnetic survey                geophysical  technique  using electrical
                                       currents  to  detect  conductive  bodies
                                       below    surface.    Conductive   bodies
                                       include    massive-sulphides   that  may
                                       contain base metals;


 EM survey                             see electromagnetic survey;


 fault                                 a  fracture or break   within a body  of
                                       rock  across  which  some  movement  has
                                       occurred;


 felsic intrusive                      an     igneous  rock      of    granitic
                                       composition   that   is  intruded   into
                                       surrounding strata;


 fold                                  geological  term for a  curve or bend of
                                       planar surfaces in rocks;


 geophysics                            mineral  prospecting   systems  designed
                                       to   detect  mineralisation   using  the
                                       physical properties of rocks;


 igneous rock                          originally  molten can   be volcanic  or
                                       intrusive;


 IP survey                             "Induced  Potential"  -   a  geophysical
                                       technique    to    detect   disseminated
                                       sulphide mineralization;


 JORC                                  Joint  Ore  Reserves  Committee  of  the
                                       Australasian  Institute  of  Mining  and
                                       Metallurgy;


 lodes                                 a  discrete, rich portion  of an orebody
                                       that    has    a     distinct    spatial
                                       orientation,  often controlled by faults
                                       and folds;


 magnetic survey                       measurements  of  the   perturbation  in
                                       the  earth's magnetic   field caused  by
                                       magnetic minerals in rocks;


 mineralisation                        metallic  minerals  such  as  gold, base
                                       metals,    pyrite    and    arsenopyrite
                                       incorporated in rocks;


 mineralised zones                      hydrothermally    altered    structural
                                       features     containing      potentially
                                       valuable minerals;


 orebody                               economically   viable   portion   of   a
                                       mineralised zone;


 phoscorite                            calcium  phosphate mineral  occurring in
                                       carbonatite lavas;


 pyroxenite                            an ultrabasic rock rich in pyroxene  - a
                                       silicate mineral;


 quartz                                silicon  oxide mineral   very common  in
                                       hydrothermal deposits;


 radiometrics                          the   measurement  by   spectrometer  of
                                       radiation    energy   given    off    by
                                       radioactive    rock-forming    minerals,
                                       usually Uranium, Thorium, Potassium;


 resource                              mineral  resource  as   defined  by  the
                                       JORC Code 2004;


 reverse circulation (RC) drilling     rotary  percussion drilling  whereby the
                                       RC   sample   is    returned  from   the
                                        cutting  head inside the  rod string to
                                        surface        thereby         avoiding
                                        contamination  from  the  walls  of the
                                       hole;


 rotary air blast (RAB) drilling       Open-hole    drilling    whereby   drill
                                       RAB  cuttings are   returned to  surface
                                        by  compressed  air   in  an   un-lined
                                        hole; contamination  is  possible  from
                                        the walls of the hole;


 schist                                metamorphic  rock  with  well  developed
                                       foliation;


 shear zone                            zone    of    multiple    fractures   or
                                       discontinuities  in rock, either ductile
                                       or brittle;


 siltstone                             fine   grained   usually   quartz   rich
                                       sedimentary   rock;   where   calcareous
                                       contains calcium or magnesium carbonate;


 stockworks                            zone of multiple quartz filled fractures
                                       with  individual  veins  often of random
                                       orientation;


 strike                                the  horizontal orientation  of a planar
                                       geological feature;


 sulphide                              sulphur bearing metallic mineral;


 thrust                                shallow  dipping  fault  where the upper
                                       body   of   rock   overrides  the  lower
                                       portion;







[HUG#1378919]





    Full version incl. map (PDF): 

http://hugin.info/138338/R/1378919/339231.pdf