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by Stockwatch Business Reporter

New York spot gold lost $0.70 to $1,169.30 on Tuesday. The TSX Venture Exchange fell 2.93 points to 748.20 while the TSX Gold Index lost 1.09 points to 192.32. Centerra Gold Inc. (CG) had a good day, gaining 20 cents to $7.10 on 2.11 million shares, but most Canadian gold miners lost ground today. Alacer Gold Corp. (ASR), $3.80 in September, fell another 12 cents to $2.40 on 1.72 million shares.

Dr. David Palmer's Probe Metals Inc. (PRB), up 27 cents to $1.44 on 351,000 shares, has received assays of up to 12.6 grams of gold per tonne over 143 metres at its Val d'Or East project in Quebec. That hole, one of 12 with new results, also produced two grams of gold over 143 metres commencing near the surface. Although the hole was an infill test, the deep, higher-grade hit is a new discovery. Dr. Palmer, president and chief executive officer, says that the latest assays "have definitely validated our confidence" in the project, adding that they highlight the "significant exploration upside and potential" at Val d'Or East.

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