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by Stockwatch Business Reporter

New York spot gold gained $8.60 to $1,180.80 on Monday. The TSX Venture Exchange gained 2.87 points to 794.31 while the TSX Gold Index rose 0.40 point to 205.01. Endeavour Mining Corp. (EDV) led Canadian miners higher today. It rose 85 cents to $23.11 on 726,000 shares. Detour Gold Corp. (DGC) led a modest retreat, dropping 78 cents to $19.80 on 2.25 million shares.

Phillip Walford's Marathon Gold Corp. (MOZ), up five cents to 62 cents on 842,000 shares, has received assays of up to 3.01 grams of gold per tonne over 47 metres from its Marathon deposit on the Valentine Lake gold project in central Newfoundland. Several other drill holes also delivered what Mr. Walford, president and chief executive officer, calls "very wide intervals of high-grade gold at depth." Those hits included 2.60 grams per tonne over 44 metres and 3.33 grams per tonne over 13 metres. Mr. Walford says that the deeper zone now has a strike length of over 400 metres, adding that the sub-vertical mineralized corridor is open along strike, is up to 100 metres wide and extends to a depth of more than 350 metres.

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