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by Stockwatch Business Reporter

New York spot gold slid $25.00 to $1,335.40 on Friday. The TSX Venture Exchange lost 0.73 point to 806.69 while the TSX Gold Index fell 6.34 points to 273.06. Canadian gold miners retreated today, led by Barrick Gold Corp. (ABX), which fell $1.15 to $27.97 on 7.68 million shares and Alacer Gold Corp. (ASR), which fell 12 cents to $3.28 on 975,000 shares.

Douglas Eaton and Mike Power's Silver Range Resources Ltd. (SNG), down 1.5 cents to 18.5 cents on 77,000 shares, has staked the Itchen gold property in Nunavut, 350 kilometres north-northeast of Yellowknife. Mr. Power, president and chief executive officer, describes the property as "near" the old Lupin mine, although he uses the term in the Howe Street sense -- Itchen is 80 kilometres west-southwest of Lupin. Silver Range staked the property a month ago and has already completed "confirmatory sampling," which yielded assays of up to 6.64 grams of gold per tonne.

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