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by Stockwatch Business Reporter

New York spot gold closed down $6.80 to $1,139 on Thursday. The TSX Venture Exchange gained 4.38 points to 547.06 while the TSX Gold Index fell 1.47 points to 135.04. Most Canadian gold miners lost ground today, led by Iamgold Corp. (IMG), which dropped 13 cents to $2.43 on 4.13 million shares. Yamana Gold Inc. (YRI), nevertheless continued posting gains, adding another 14 cents to $3.05 on 10.77 million shares.

Don Dudek's Savary Gold Corp. (SCA), unchanged at three cents on 443,000 shares, has a resource estimate for its Karankasso gold joint venture, 300 kilometres southwest of Ouagadougou in Burkina Faso. (Savary holds a 65-per-cent interest; Andrew Dunning's Sarama Resources Ltd. (SWA: $0.075) holds the other 35 per cent.) The co-venturers estimate Karankasso has 9.16 million tonnes at 2.28 grams of gold per tonne, a total of 671,000 ounces, using a 0.5-gram-per-tonne cut-off. The resource is spread across six zones. The largest, Kien East, hosts 3.6 million tonnes at 1.65 grams per tonne, or just over 191,000 ounces.

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