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by Stockwatch Business Reporter

New York spot gold lost $1.00 to $1,243.70 on Tuesday. The TSX Venture Exchange lost 1.55 points to 701.04 while the TSX Gold Index lost 3.28 points to 225.05. Most Canadian gold miners drifted lower today, led by Kinross Gold Corp. (K), which fell 17 cents to $6.29 on 8.86 million shares, and Kirkland Lake Gold Inc. (KGI), which fell 27 cents to $11.35 on 715,000 shares.

Randy Turner's Independence Gold Corp. (IGO), up one-half cent to 15.5 cents on 190,000 shares, has launched a $1.5-million exploration program on its Yukon properties in the White Gold district of Yukon. The work is being conducted on and around Independence's Boulevard property, its most advanced property. Mr. Turner, president and chief executive officer, says that the proposed acquisition of Kaminak Gold Corp. (KAM: $2.49) by Goldcorp Inc. (G: $23.07) has "rejuvenated the geologic and economic interest" in the White Gold district, which hosts Kaminak's Coffee gold deposit. As a result, he professes excitement at the prospect of being one of a handful of companies "executing significant exploration programs" in Yukon this year.

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