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by Stockwatch Business Reporter

New York spot gold fell again, losing $7.00 to $1,252.40 on Tuesday. The TSX Venture Exchange slid 8.13 points to 772.67 while the TSX Gold Index lost 3.45 points to 203.75. Most Canadian gold miners fell back today, although Klondex Mines Ltd. (KDX) was one of a few bucking the trend today. It gained four cents to $6.53 on 1.59 million shares. Osisko Gold Royalties Ltd. lost 20 cents to $13.26 on 512,000 shares while Franco-Nevada Corp. (FNV) fell $2.22 to $82.08 on 866,000 shares.

Rudi Fronk's Seabridge Gold Inc. (SEA), up 15 cents to $13.86 on 287,000 shares, has approval to proceed with development of an exploration adit into the Deep Kerr deposit at its KSM project in northwestern British Columbia. The work follows the company's preliminary economic assessment of KSM, released late last week, which recommends that mining of the Kerr and Deep Kerr deposits should proceed concurrently by underground block caving. Mr. Fronk, Seabridge's $640,000-per-year chairman and chief executive officer, says that the underground development will allow his company to upgrade the big inferred resource at Deep Kerr to a higher classification.

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