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by Stockwatch Business Reporter

New York spot gold gained $4.10 to $1,219.50 on Friday. The TSX Venture Exchange gained 3.05 points to 819.28 while the TSX Gold Index rose 0.72 point to 218.74. Most Canadian gold miners moved little today, although Guyana Goldfields Inc. (GUY) did add 36 cents to $7.10 on 1.74 million shares. Goldcorp Inc. (G) led the retreat. It slipped 15 cents to $21.21 on 3.48 million shares.

Dr. Chris Osterman and Patrick Doyle's First Mining Finance Corp. (FF), up one cent to 81 cents on 1.24 million shares, has received assays of up to 1.28 grams of gold per tonne over 12.7 metres at its Pickle Crow project in Northwestern Ontario. The assays are from a nine-hole, 1,300-metre drill program completed last fall that targeted several shallow, high-grade vein and banded iron formation hosted features. Seven of the nine holes hit gold, although arguably just one of them hit any of the "new high-grade mineralization" that the company had been seeking. (That one hole encountered a 0.7-metre zone that averaged 15.14 grams per tonne.) A second hole may have hit high-grade gold as well, as the company noted visible gold in the core, but it retained the sample "for display purposes." Without that boost, the interval averaged just 1.15 grams per tonne over 8.19 metres.

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