African Consolidated Resources has confirmed an Ore Reserve Estimate in accordance with the 2012 JORC Code of 16.6Mt grading at 1.9g/t for 1.02Moz of contained metal at its flagship Pickstone Peerless gold project in Zimbabwe.

The AIM-listed resources and development company also announced an updated Mineral Resource Estimate on Pickstone-Peerless in accordance with the 2012 JORC Code supporting the Ore Reserve Estimate.  This is in line with company policy to report the Reserve estimate as a subset of the Mineral Resource.

The declared Resource is 62.0Mt at 1.8g/t containing 3.56 Moz at a cut-off grade of 0.3g/t down to 250 metres below surface (open pit) and at 1.5g/t for the remaining resource below 250 metres below surface. ExplorMine was retained as the appointed Competent Person under the 2012 JORC code to compile and estimate the Company’s resources.

These upgraded Reserves and Resources have been developed from the Pre-Feasibility Study (PFS) carried out by AFCR and as announced on 4 December 2013.

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