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by Stockwatch Business Reporter

New York spot gold gained $15.70 to $1,235.20 on Monday. The TSX Venture Exchange gained 7.09 points to 826.37 while the TSX Gold Index rose 9.77 points to 228.51. Most Canadian gold miners moved higher today, led by Endeavour Mining Corp. (EDV), which added $2.33 to $27.86 on 729,000 shares. New Gold Inc. (G) went the other way. It lost four cents to $3.74 on 3.11 million shares.

Dennis Higgs and Wade Hodges's Nevada Exploration Inc. (NGE), unchanged at 35 cents on 173,000 shares, has results from 11 holes drilled at its Kelly Creek project in north-central Nevada. The company says the drilling encountered "elevated" gold on the bedrock contact. (Elevated, like anomalous, is a geological synonym for "low-grade" and that was the case here, as the best assay was just 0.15 gram per tonne.) The company now claims four mineralized targets on the project and it is now drilling a 10-hole cross-section across the first of them, which it describes as a high-angle fault zone similar in size and orientation to the nearby multimillion-ounce Lone Tree mine.

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