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    Pacgold (ASX:PGO) resource update

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    Pacgold (ASX:PGO) has made an announcement about a key resource.

    Following the announcement shares of Pacgold fell 1.886% to $0.520.

    Pacgold is pleased to provide an update of drilling assay results from the Company's Alice River Gold Project. To date, 26 drill holes (diamond (DD) and reverse circulation (RC)) have been completed on the Central Target in the current programme, with assay results pending for 13 drill holes targeting the F1a zone.

    The current drilling programme of 17,500m is ~60% advanced with 5,472m RC and 5,300 DD completed. Approximately 80% of the drill programme will focus on the F1a zone (Central Target) with the remaining 20% to investigate other areas within the Southern and Northern Targets.

    When a mining company releases an update about a key resource it?s exciting times for shareholders.

    A lot of capital goes into exploration and when a new deposit is found there?s usually a share price boost.

    Discovery is the reward stage for investors, particularly of junior mining stocks, searching for undiscovered deposits of natural resources.

    When discussing new resource discoveries it?s beneficial to know the difference between greenfield and brown exploration.

    Greenfield exploration is looking for mineral deposits in areas that have not been explored.

    In brownfield exploration deposits are being sought near or next to an already existing mine.

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