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by Stockwatch Business Reporter

New York spot gold fell $2.40 to $1,128.90 on Thursday. The TSX Venture Exchange gained 1.66 points to 720.15 while the TSX Gold Index added 0.63 point to 177.57. Canadian gold miners moved little today. Guyana Goldfields Inc. (GUY) did manage a 48-cent gain to $5.19 on 1.57 million shares, while Kinross Gold Corp. (K) slipped six cents to $3.93 on 6.24 million shares.

Ian Bliss's Northern Shield Resources Inc. (NRN) crashed 6.5 cents to six cents on 16.38 million shares. The company has wrapped up a six-hole drilling program at Sequoi, north of Schefferville in the Labrador Trough district of Northern Quebec. Each of the six holes tested different targets, but only the second test warranted much of a description from Mr. Bliss, president and chief executive officer. He said that hole intersected five metres of "what the company believes to be brecciated, massive, semi-massive, stringer and disseminated sulphides, dominated by pyrrhotite with some identifiable pyrite and minor chalcopyrite." (The market's grim reaction follows the maxim that the thicker the geological jargon, the thinner the assay grades.)

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