HARARE African Consolidated Resources (ACR) says it has so far discovered a gold inventory of more than one million ounces at three green projects in Zimbabwe that the British-registered firm has been exploring since 2006.ACR chief executive Andrew Cranswick said the maiden resource from the companys Blue Rock gold project near Chegutu has confirmed an initial inventory of 1.085 million ounces.
“This maiden resource from our Blue Rock gold project adds further tangible value to our growing portfolio of gold projects in the northern midland greenstone belts in Zimbabwe, where our JORC (Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy) compliant resources now exceed 1 million ounces, Cranswick said.
ACR announced an aggressive mineral exploration programme in February, revealing that it had secured US$16 million in additional funding to bring on stream four new projects in Zimbabwe.
ACR is the British company currently locked in a long-running legal battle with the Zimbabwe government in a dispute over control of the controversial Chiadzwa diamond fields in Manicalands Marange district.
The British firm was confirmed as the legal Chiadzwa claim holder in a landmark September 2009 High Court ruling but has not been allowed to resume operations.
The expansion programme revolved around an aggressive 18-month drilling campaign and a target to bring four mining projects up to commercially-viable levels by December this year and to increase the resource base at the Blue Rock, Giant and Pickstone gold mines.
Work is also underway to develop phosphate, copper and nickel projects at various locations around the country.
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