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by Stockwatch Business Reporter

New York spot gold closed down $1.80 to $1,082.10 on Monday. The TSX Venture Exchange gained 2.18 points to 526.11 while the TSX Gold Index gained 0.85 point to 125.34. Most Canadian gold mines gained ground today, led by Yamana Gold Inc. (YRI), which added 11 cents to $2.55 on 2.66 million shares and Alacer Gold Corp. (ASR), which gained 11 cents to $2.72 on 458,000 shares. Kirkland Lake Gold Corp. (KGI) fell two cents to $5.23 on 90,000 shares.

Randall Oliphant and Robert Gallagher's New Gold Inc. (NGD), up seven cents to $2.96 on 1.69 million shares, is reporting high-grade assays from the new Chronos Main zone at its Peak mine in Australia. One deep hole averaged 310.24 grams of gold and 66.78 grams of silver over 8.8 metres, with significant amounts of zinc, copper and lead. Another assayed 143.01 grams of gold and 179.76 grams of silver over 7.6 metres, accompanied by 24 per cent lead, 1.23 per cent copper and 4.44 per cent zinc. Assays from two other zones, Chronos East and Angea, were decidedly unspectacular from a gold perspective, but they were noteworthy nevertheless because of their base metal content. (One Angea hole averaged 2.75 per cent copper over a 28.3-metre interval; another ran 22.3 per cent zinc and 17.1 per cent lead over 4.3 metres.)

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