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by Stockwatch Business Reporter

New York spot gold lost $1.90 to $1,233.30 on Tuesday. The TSX Venture Exchange gained 0.65 point to 827.02 while the TSX Gold Index slipped 0.15 point to 228.36. Many Canadian gold miners moved higher today, led by Alacer Gold Corp. (ASR), which added 12 cents to $2.95 on 3.86 million shares. Kinross Gold Corp. (K) went the other way, dropping six cents to $5.33 on 9.93 million shares.

Gerald Panneton's Newcastle Gold Ltd. (NCA), up one cent to 78 cents on 1.31 million shares, has received assays of up to 1.25 grams of gold per tonne over 94.5 metres in the South Domes area of its Castle Mountain gold project in California. A 15.2-metre interval within that zone averaged 3.37 grams per tonne. The assays are from the start of a 40,000-metre definition and exploration drill program that began last fall. Several other holes yielded noteworthy amounts of gold, including one that produced 1.07 grams per tonne over 67.1 metres, including a 12.2-metre zone that ran 2.91 grams per tonne. Mr. Panneton, president and chief executive officer, says he was "very encouraged" with the continuing exploration success at South Domes, adding that the latest drilling continues to confirm the high-grade nature of the deposit. (He is using the Howe Street version of "high-grade" -- anything topping one gram per tonne.)

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