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by Stockwatch Business Reporter

New York spot gold fell $0.70 to $1,209.60 on Wednesday. The TSX Venture Exchange gained 6.56 points to 813.90 while the TSX Gold Index added 0.52 point to 214.69. Most Canadian gold miners moved lower today but New Gold Inc. (NGD) had a bounce. It rose 25 cents to $3.72 on 7.89 million shares.

Negar Adam's Makena Resources Inc. (MKN), up one-half cent to 1.5 cents on 7.51 million shares, has received encouraging assays from its Clone gold project, just southeast of Stewart in the Golden Triangle region of northwestern British Columbia. The assays, from the last six holes of a seven-hole program that Makena completed last fall, included a hit of 10.38 grams of gold per tonne over 7.01 metres. (Assays from the first hole arrived as a gift for shareholders just before Christmas. It included a 6.43-metre interval that averaged 17.83 grams per tonne.) The other holes yielded lesser amounts of gold, although a few of them had noteworthy grades over narrow intervals, including 28.05 grams per tonne over 0.91 metre.

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