Consolidates Land Position in Highly Prospectiv...
African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
12 September 2011
African Consolidated Resources plc ('ACR' or 'the Company')
Consolidates Land Position in Highly Prospective IOCG District, in Zambia
African Consolidated Resources Plc, the AIM listed Southern African focused
resource development company, is pleased to announce that it has acquired four
additional licences, totalling 1,400 hectares, within the highly prospective
Kasempa Iron Oxide-Copper-Gold ('IOCG') Project area in north-western Zambia
('the Kasempa Project').
* Acquisition of additional licences consolidates the Company's position in
the high grade and historically producing Kasempa district including
complete consolidation of the northern zone of the Jikambo target which has
recognised prospectivity
* The region is known to have considerable potential for IOCG ± Silver,
Cobalt, Uranium and Rare Earth style mineralisation similar to that of
Olympic Dam IOCG deposit and the Ernest Henry mine in Australia
* These new licences bring ACR's total land position in the immediate region
to 21,500 hectares (215 sq km)
* The key lease is large-scale prospecting licence 12199-HQ-LPL, located
approximately 80 km west of the town of Kasempa
* The acquisition is in line with the Company's strategy to expand its
portfolio of assets across Zambia and Southern Africa to complement its
proven Zimbabwean assets and diversify shareholder exposure
* The Kasempa Project represents an underexplored mineralised district - with
well defined high-quality outcropping targets identified by previous
explorers coupled with extensive mineralisation extrapolated to extend
beneath unexplored, shallow Kalahari Sands style cover
* Historical work in the 1960s to 1990s did not have access to the modern
technology used in such an environment - ACR has in-house skills and sensing
equipment as well as access to outsourced parties where necessary to do full
justice to the region
* Existing coarse aeromagnetic surveys have identified three significant
anomalies which will be priorities for exploration work; the Jikambo
Prospect ('Jikambo'), the Northern Prospect and the Southern Prospect
* Jikambo is a 7 km long by 3 km wide, broad soil and auger geochemical Copper
anomaly which was discovered in the 1970s by Roan Consolidated Mines Ltd
('RCM') and is associated with potassic altered, syenitic intrusives,
quartz-hematite ironstone, NNE trending faults and a prominent magnetic
anomaly
* RCM reported a vein of hematite, pyrite and chalcocite, averaging 12.05%
total copper over an intersected thickness of 1.5 metres in drill hole
RKN719
* ACR rock chip samples from the Jikambo Prospect demonstrate values of up to
1.8% copper, 38.77% iron, 178ppb gold, 3.7% phosphorus and 137ppm uranium
and underpins high grade prospectivity of Kasempa Project
* Intention to immediately fly the area with detailed magnetic and radiometric
surveys in order to generate further data to facilitate targets for follow-
up ground gravity surveys and drilling.
ACR Chief Executive Andrew Cranswick said, "The Kasempa Project represents a
potentially significant new resource development opportunity for ACR.
 Preliminary work, including rock chip sampling and aeromagnetic surveys have
provided the Company with highly encouraging results, including potential high-
grade IOCG mineralisation and important new target areas, ensuring that this
project has been prioritised for follow-up exploration work.
"We are demonstrating solid progress and success in our stated strategy for
expanding our portfolio of projects across Southern Africa, which now includes
two potentially significant projects in Zambia; the Kasempa Project and the
Nkombwa Hills Project, which is prospective for Rare Earth Elements and
phosphate. Â This geographic expansion provides ACR with an additional dimension
which I believe sensibly spreads shareholder risk and leverages our position in
the investment community, while simultaneously retaining our commitment to the
maximisation of our recognised Zimbabwe first-mover advantage."
The technical elements of this report have been reviewed by Mr. Michael Kellow
(the Company's Technical Director). Michael Kellow (BSc) is a member of the
Australian Institute of Geoscientists (AIG) and a full-time employee of African
Consolidated Resources Plc. Mr. Kellow has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the "Australian Code for Reporting of Exploration
Results, Mineral Resource and Ore Reserves" (JORC Code) and as a "qualified
person" as defined in the AIM Note for Mining, Oil and Gas Companies. Michael
Kellow consents to the publication of this report.
**ENDS**
For further information visitwww.acrplc.com or please contact:
Roy Tucker African Consolidated Resources plc +44 (0) 1622 816918
+44 (0) 7920 189012
Andrew Godber Panmure Gordon (UK) Limited +44 (0) 207 459 3600
Callum Stewart Panmure Gordon (UK) Limited +44 (0) 207 459 3600
Abhishek Majumdar Panmure Gordon (UK) Limited +44 (0) 207 459 3600
Susie Geliher St Brides Media & Finance Ltd +44 (0) 20 7236 1177
Glossary
+----------------------------+-----------------------------------------+-------+
|Term |Explanation |Acronym|
+----------------------------+-----------------------------------------+-------+
|Au |chemical symbol for gold |Â |
+----------------------------+-----------------------------------------+-------+
|banded iron-formation |chemical sedimentary rock consisting of|BIF |
| |iron and quartz | |
+----------------------------+-----------------------------------------+-------+
|chalcocite |Copper Sulfide (Cu2S), an important|Â |
| |copper ore mineral | |
+----------------------------+-----------------------------------------+-------+
|diamond drilling |Drilling method using a diamond-|Â |
| |impregnated cutting bit to obtain a core| |
| |sample of rock | |
+----------------------------+-----------------------------------------+-------+
|dip |the orientation of a planar geological|Â |
| |feature relative to horizontal | |
+----------------------------+-----------------------------------------+-------+
|disseminated sulphide |Accumulations of sulphide minerals where|Â |
| |the grains are separated by other| |
| |minerals and are not in physical contact| |
| |with each other. | |
+----------------------------+-----------------------------------------+-------+
|fault |a fracture or break within a body of rock|Â |
| |across which some movement has occurred | |
+----------------------------+-----------------------------------------+-------+
|felsite |silica rich igneous rock, aka felsic|Â |
| |volcanic | |
+----------------------------+-----------------------------------------+-------+
|greenstone belt |belts of metamorphosed sedimentary and|Â |
| |igneous rocks of Archaean age | |
+----------------------------+-----------------------------------------+-------+
|hematite |An oxide of Iron, Fe2O3 |Â |
+----------------------------+-----------------------------------------+-------+
|igneous rock |originally molten can be volcanic or|Â |
| |intrusive | |
+----------------------------+-----------------------------------------+-------+
|JORC |Joint Ore Reserves Committee of the|Â |
| |Australasian Institute of Mining and| |
| |Metallurgy | |
+----------------------------+-----------------------------------------+-------+
|laterite |highly weathered rock usually conforms to|Â |
| |a consistent weathering pattern from| |
| |surface and often redistributes gold,| |
| |nickel or aluminium to ore grade| |
| |concentrations above the primary source| |
| |at depth. | |
+----------------------------+-----------------------------------------+-------+
|mineralisation |metallic minerals such as gold, base |Â |
| |metals, pyrite and arsenopyrite | |
| |incorporated in rocks | |
+----------------------------+-----------------------------------------+-------+
|mineralised zones |hydrothermally altered structural|Â |
| |features containing potentially valuable| |
| |minerals | |
+----------------------------+-----------------------------------------+-------+
|orebody |economically viable portion of a|Â |
| |mineralised zone | |
+----------------------------+-----------------------------------------+-------+
|pyrite |iron sulphide mineral often associated|Â |
| |with gold and base metal mineralisation | |
+----------------------------+-----------------------------------------+-------+
|pyrrhotite |iron sulphide mineral |Â |
+----------------------------+-----------------------------------------+-------+
|quartz |silicon oxide mineral very common in|Â |
| |hydrothermal deposits  | |
+----------------------------+-----------------------------------------+-------+
|Resource |mineral Resource as defined by the JORC|Â |
| |Code 2004 | |
+----------------------------+-----------------------------------------+-------+
|reverse circulation drilling|rotary percussion drilling whereby the|RC |
|Â |sample is returned from the cutting head|Â |
| |inside the rod string to surface thereby| |
| |avoiding contamination from the walls of| |
| |the hole | |
+----------------------------+-----------------------------------------+-------+
|schist |metamorphic rock with well developed|Â |
| |foliation | |
+----------------------------+-----------------------------------------+-------+
|stockworks |zone of multiple quartz filled fractures |Â |
|Â |with individual veins often of random | |
| |orientation | |
+----------------------------+-----------------------------------------+-------+
|strike |the horizontal orientation of a planar |Â |
| |geological feature | |
+----------------------------+-----------------------------------------+-------+
|syenite |a coarse-grained intrusive igneous | |
| |rock of the same general composition | |
| |as granite but with quartz <5%, and | |
| |feldspar component predominantly | |
| |alkaline in character. | |
+----------------------------+-----------------------------------------+-------+
|talc |magnesium iron silicate mica of |Â |
| |metamorphic origin | |
+----------------------------+-----------------------------------------+-------+
|thrust |shallow dipping fault where the upper |Â |
|Â |body of rock overrides the lower portion | |
+----------------------------+-----------------------------------------+-------+
|UNITS |Â |Â |
+----------------------------+-----------------------------------------+-------+
|g |gramme |Â |
+----------------------------+-----------------------------------------+-------+
|g/t |grammes per metric tonne - metal |Â |
| |concentration | |
+----------------------------+-----------------------------------------+-------+
|km |kilometre |Â |
+----------------------------+-----------------------------------------+-------+
|m |metre |Â |
+----------------------------+-----------------------------------------+-------+
|Mt |million metric tonnes |Â |
+----------------------------+-----------------------------------------+-------+
|Moz |million ounces |Â |
+----------------------------+-----------------------------------------+-------+
|oz |fine troy ounce equaling 31.1048 grammes |Â |
| |- normal unit used in selling gold | |
+----------------------------+-----------------------------------------+-------+
|ppb |parts per billion |Â |
+----------------------------+-----------------------------------------+-------+
|ppm |parts per million, equivalent to g/t |Â |
+----------------------------+-----------------------------------------+-------+
|t |metric tonne |Â |
+----------------------------+-----------------------------------------+-------+
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: African Consolidated Resources Plc via Thomson Reuters ONE
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