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by Stockwatch Business Reporter
New York spot gold fell again, losing $11.30 to $1,255.20 on Thursday. The TSX Venture Exchange slid 12.19 points to 766.31 while the TSX Gold Index lost 5.35 points to 205.97. Canadian gold miners tumbled again today, although not as badly as Tuesday. Torex Gold Resources Inc. (TXG) fell $1.29 to $22.59 on 1.10 million shares and Endeavour Gold Mining Corp. (EDV) slumped 88 cents to $21.34 on 354,000 shares.
Mark O'Dea and Cal Everett's Pilot Gold Inc. (PLG), up one cent to 67 cents on 274,000 shares, has received assays of up to 0.86 gram of gold per tonne over 67.1 metres from drilling at the Main zone of its Goldstrike project in southwestern Utah. That hit included a 15.2-metre interval that averaged 2.35 grams per tonne. The latest assays are from another seven holes drilled into what the company calls a "Carlin-style" deposit, big, but low grade, in other words. All seven yielded gold, although the grades and lengths obtained in the other six were modest. The market's reaction was lukewarm, probably because the assays again failed to show any of the high-grade hits that Pilot encountered earlier, which included a 6.1-metre interval that averaged a whopping 29.1 grams of gold per tonne and a historic hit of 175 grams per tonne over 4.6 metres.
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