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Gold Summary for Oct. 12, 2016

2016-10-12 18:53 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold reclaimed $2.50, closing at $1,254.90 on Thursday. The TSX Venture Exchange lost 2.12 points to 770.55 while the TSX Gold Index gained 5.47 points to 209.22. Canadian gold miners moved higher today, led by Klondex Mines Ltd. (KDX), which added 41 cents to $6.94 on 1.65 million shares and Torex Gold Resources Ltd. (TXG), which gained $1.79 to $25.01 on 781,000 shares.

Randy Turner's Independence Gold Corp. (IGO), down 3.5 cents to 20.5 cents on 310,000 shares, has received assays of up to 7.73 grams of gold per tonne over 6.1 metres from new discoveries on the Sunset zone of its Boulevard project, in the White Gold district of Yukon. Independence drilled 15 reverse circulation holes spanning a total of 1,400 metres at Sunrise-Sunset in the current program. That drilling tested soil anomalies along the 2,300-metre-long Sunset trend and some potentially subparallel zones at Sunrise. The company also drilled 1,500 metres over 15 holes at Denali, which yielded assays of up to 4.28 grams per tonne over 4.6 metres.

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