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Gold Summary for Sept. 20, 2016

2016-09-20 20:49 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $1.70 to $1,314.50 on Tuesday. The TSX Venture Exchange rose 1.53 points to 803.21 while the TSX Gold Index added 0.42 point to 236.44. Yamana Gold Inc. (YRI) led the advance, gaining 10 cents to $5.90 on 6.24 million shares. Alamos Gold Inc. was at the head of the retreat. It fell 23 cents to $10.38 on 986,000 shares.

Albert Matter and James Anderson's NuLegacy Gold Corp. (NUG), up three cents to 48 cents on 995,000 shares, has received assays from the second hole drilled this year at Avocado, its recent gold find on the Red Hill project in Nevada. The hole, AV-03, yielded assays of 1.04 grams of gold per tonne over 25.9 metres. This is an "important improvement" over the grade returned by the discovery hole, AV-02, which managed 0.26 gram per tonne over 199.7 metres, says Mr. Anderson, president and chief executive officer. (Perhaps, although the interval in AV-02 was considerably larger, and embedded within it were two zones averaging 1.02 grams per tonne over a total of 24.4 metres.)

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