Vast Res Regulatory News (VAST)

21 Sep 2006 07:02

African Consolidated Resources Plc21 September 2006 21 September 2006 African Consolidated Resources plc ("ACR" or the "Company") Diamond Discovery African Consolidated Resources plc, an AIM listed exploration company, ispleased to announce a diamond find in Zimbabwe. The diamonds are hosted within acemented, Precambrian alluvial deposit, and secondary alluvial deposits arelikely to have formed from erosion of ancient gravels. The extent of thealluvial host formation is unknown as yet, as the formation is partiallyconcealed by younger rock formations and recent alluvium. ACR holds a significant area of mining and exploration rights in the region ofthis discovery and intends to conduct further research including geochemistry,geophysics, bulk-sampling, drilling and trial mining. The directors believe thatthe gem and industrial diamonds which have been recovered in the past few weeksare significant both as to quantity and as to value but neither have yet beendefinitively established. Furthermore the samples from which the diamonds havebeen recovered may prove to be unrepresentative of further sampling to beconducted over coming months. The Company will undertake a full evaluation of this resource as soon aspracticable and will announce the results as soon as known. Enquiries: ACRAndrew Cranswick (+44) 7920 189010Roy Tucker (+44) 1622 816918 Evolution SecuritiesSimon Edwards (+44) 20 7071 4330 College HillPaddy Blewer (+44) 20 7457 2020Nick Elwes This information is provided by RNS The company news service from the London Stock Exchange