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African Consolidated Resources (ACR) is a mineral exploration company, based in the United Kingdom, with operations in Zimbabwe, Zambia and Mozambique. ACR listed on the AIM market of the London Stock Exchange on June 30, 2006.
ACR seeks to acquire and prove up top-quality gold, PGE, diamond and base metals assets, using state-of-the-art targetting and in-country knowledge.
Our two lead gold projects, the Giant and Pickstone-Peerless mines, historically produced approximately 1 million ounces of gold from high-grade underground operations. There remains excellent potential to exploit the lower-grade halo in all directions around the old mines, and ACR has a target of defining 2-3 million ounces using modern exploration targeting technology.
The two projects currently contain near-surface JORC resources of 813,000 Oz, much of which is expected to be open-pittable using modern mining methods. Depth potential is evidenced at the Pickstone Mine which was historically developed by Rio Tinto down to 750m depth.
In addition ACR have acquired a multitude of brown field and green field properties for gold and other minerals.
ACR uses leading-edge exploration technologies such as spatial data management software, 3D visualization, new geophysical modelling techniques, innovative geochemistry and risk-managed targeting, to generate a pipeline of exciting new projects across the whole of Zimbabwe, and the broader region.
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Highlights
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- Admission to AIM, raising £4m at a price of 12p per share
- Subsequent raising of $4.5m @14.50p
- Good progress made in first phase drilling at Pickstone Peerless and Giant mines - including discovery of southern extension to the Giant Mine and confirmation of gold lodes on Duchess Hill at Pickstone. Comprehensive soil geochemistry has been completed on a major gold trend in the Lowveld (Southern Zimbabwe)
- Acquisition of the eastern block of Snakes Head platinum finalised - now consolidating the entire known PGM-mineralised Musengesi chamber of the Great Dyke. Geological mapping completed on the west block. Mapping has identified the only known gabbro cap on the Great Dyke which appears to be fully intact - encouraging sulphide mineralisation observed in reconnaissance rockchips. Re-interpretation implies potential for higher grade marginal facies to be defined.
- Three primary nickel targets acquired, two sulphide in Komatiite style and one laterite
- Perseverance target (sulphide) comprises 25x5km ultramafic structure. Defined with geophysics re-interpretation - partly under younger cover. Body confirmed by MMI geochemistry. Five conductors located with on-going electromagnetic survey - to provide drill targets late 2008.
- Marange alluvial diamond find - legal issues outstanding.
- Lowveld kimberlites discovered - encouraging geochemistry
- Aug 2007 Resource update by SRK using revised and more conservative methodology 813,000 Oz Au (measured+indicated+inferred)
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Our Mission
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- To be the premier explorer and miner in the re-emergent minerals industry in Zimbabwe.
- Build a portfolio of prospective holdings in the region and progress to BFS.
- To acquire in-ground resources at low outlay cost.
- To add new resources through risk-managed exploration utilizing modern and proven techniques.
- To use ACR's experience in the regional social, political and industrial systems to ensure, that wherever possible, logistical and operational challenges are rapidly overcome and sovereign risk is managed.
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