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by Stockwatch Business Reporter

New York spot gold rose $0.40 to $1,296.20 on Wednesday. The TSX Venture Exchange rose 7.25 points to 775.10 while the TSX Gold Index fell 0.19 point to 189.72. Iamgold Corp. (IMG) led Canadian golds lower today, dropping 31 cents to $7.67 on 2.34 million shares. The company has increased its resource estimate for the Essakane gold project in Burkina Faso.

Justin Reid's Troilus Gold Corp. (TLG), up two cents to $1.52 on 26,000 shares, has received assays of up to 1.99 grams of gold per tonne and 0.18 per cent copper over 41 metres from its Troilus gold and copper project, northeast of Val d'Or in Quebec. The assays are from another two holes drilled in the company's continuing 30,000-metre program. (The other hole produced 1.43 grams of gold per tonne and 0.13 per cent copper across 44.9 metres.) Two weeks ago, Troilus received similar assays from its first two holes, with grades up to 1.7 grams of gold per tonne and 0.213 per cent copper across 45.1 metres.

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