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by Stockwatch Business Reporter

New York spot gold gained $6.60, closing at $1,214.00 on Monday. The TSX Venture Exchange gained 1.26 points to 747.93 while the TSX Gold Index rose 2.00 points to 195.72. Most Canadian golds were better today, led by Detour Gold Corp. (DGC), which rose $1.10 to $17.89 on 1.97 million shares. Osisko Gold Royalties Inc. (OR) was one of the few laggards. It lost 23 cents to $13.03 on 838,000 shares.

Stephen Quin's Midas Gold Corp. (MAX), up one cent to 96 cents on 249,000 shares, has received assays of up to 3.1 grams of gold and 0.7 gram of silver per tonne over 35.2 metres at its Stibnite gold project in Idaho. That interval included an 18.3-metre zone that averaged 4.96 grams of gold and 0.8 gram of silver per tonne. The assays are from three holes drilled over the past two months. A second hole yielded a comparable result, with 4.70 grams of gold and 2.1 grams of silver per tonne over 22.9 metres, but the third hole failed to hit any gold. (Assays from holes recently drilled in the central and southern areas of Yellow Pine are pending.) Mr. Quin, president and chief executive officer, says the two gold-bearing holes were drilled at the northern end of the Yellow Pine deposit and they returned "significantly higher than anticipated grades" -- an outcome best accomplished by setting your sights low.

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