Pacgold Limited provided an update on the current diamond ("DD") and reverse circulation ("RC") drill programme at the Company's Alice River Gold Project (`Project') in North Queensland. The drill programme is currently 55% progressed, with 23 holes completed (1,201m DD and 2,404m RC) to date as part of a total 6,500m drill programme. Results have been received for diamond hole ARDH007, drilled 80m to the south and 100m above ARDH004. Results for ARDH001 to ARDH004 were recently released and results for ARDH005 and ARDH006 remain pending. Drillholes ARDH004 and ARDH007 are the first two holes to be drilled below and to the south of previous shallow drilling which was focussed on extensions to the mineralisation mined in the AQ pit. Results include: 26m @ 3.6g/t Au from 104m incl. 3m @ 21g/t Au from 126m (ARDH007); 93m @ 0.8g/t Au from 131m (ARDH004). Both drillholes have intersected broad widths of gold mineralisation with notable zones of high-grade gold, defining a new target area, not previously drill tested, which is interpreted to extend over 800m south from the historical open pit. On the two drill sections completed, the gold mineralisation is hosted by a sheeted quartz vein system in the shear zone which significantly widens approximately 50m to 100m below surface. The thickening is also robustly reflected in the high-resolution IP geophysics as a resistivity low defining both the shear zone and vein system.