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by Stockwatch Business Reporter

New York spot gold gained $1.20 to $1,244.70 on Monday. The TSX Venture Exchange rose 8.87 points to 702.59 while the TSX Gold Index lost 1.71 points to 228.33. Canadian gold miners moved little after some big oscillations last week. Yamana Gold Inc. (YRI) led the gainers, adding 28 cents to $6.48 on 15.46 million shares, while Barrick Gold Corp. (ABX) led the retreaters. It fell 54 cents to $24.27 on 9.20 million shares.

Joseph Campbell's Terrax Minerals Inc. (TXR), up 3.5 cents to 38.5 cents on 1.59 million shares, has received assays of up to 60.6 grams of gold per tonne over eight metres in the Mispickel zone at its Yellowknife City gold project in the Northwest Territories. The latest assays are from the final 22 holes drilled at Yellowknife City recently. Mr. Campbell, president and chief executive officer, says the Mispickel zone, which the company discovered with its winter drill program, appears to be a large system containing "significant high-grade zones." It has nothing to do with a lady named Pickel. In February, Terrax received its initial assays from the first two holes at Mispickel, the best of which showed 23.6 grams per tonne over 7.3 metres.

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