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by Stockwatch Business Reporter

New York spot gold fell $8.50 to $1,314.10 on Thursday. The TSX Venture Exchange gained 0.27 point to 802.62 while the TSX Gold Index inched up 0.79 point to 237.26. Canadian gold miners continued to trade in a narrow range today, although Barrick Gold Corp. (ABX) did gain 58 cents to $23.24 on 8.08 million shares. Detour Gold Corp. led the retreaters, falling 32 cents to $27.61 on 1.57 million shares.

Michael Wilkes's Oceanagold Corp. (OGC), down 10 cents to $4.28 on 2.67 million shares, has received assays of up to 35 grams of gold per tonne over 11.2 metres from the Horseshoe deposit at its Haile mine in South Carolina. There were several other noteworthy hits, including 6.8 grams per tonne over 50.6 metres and 11.7 grams per tonne over 27.4 metres. Mr. Wilkes, president and chief executive officer, says the assays have "increased our confidence" with better than expected high-grade intercepts at Horseshoe. He says that the new assays and the results of a recent preliminary economic assessment of an underground mine at Haile will be used in an optimization study of the project next year.

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