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Gold Summary for Jan. 27, 2016

2016-01-27 17:52 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $5.40 to $1,125.10 on Wednesday. The TSX Venture Exchange gained 0.29 point to 489.89 while the TSX Gold Index gained 3.24 points to 139.75. Most Canadian gold miners had a good day. Iamgold Corp. (IMG) gained 14 cents to $2.12 on 1.58 million shares. Detour Gold Corp. (DGC) went the other way, losing 41 cents to $16.09 on 2.72 million shares.

Jean-Marc Lacoste's Monarques Gold Corp. (MQR), down one-half cent to six cents on 18,000 shares, has received assays of up to 4.46 grams of gold per tonne over 10.49 metres in one of three new holes completed at its Croinor project, east of Val d'Or. The interval included a 1.0-metre zone that contained 33.28 grams of gold per tonne. Monarques drilled the new holes in a small area surrounding where an earlier hole produced 236.5 grams of gold per tonne over a one-metre interval. Monarques already has a modest resource delineated at Croinor from earlier drilling, including 12,500 metres completed last year. The deposit currently holds 804,600 tonnes measured and indicated at 9.12 grams per tonne with another 160,800 tonnes inferred at 7.42 grams per tonne, about 275,000 ounces in all.

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