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by Stockwatch Business Reporter

New York spot gold gained $0.60 to $1,287.20 on Thursday. The TSX Venture Exchange added 4.85 points to 834.62 while the TSX Gold Index dropped 0.95 point to 221.08. Detour Gold Corp. (DGC) led a minority of Canadian gold miners higher today. It added 66 cents to $17.88 on 3.20 million shares. Alacer Gold Corp. (ASR) shed 21 cents to $2.52 on 3.23 million shares.

John Byrne and Peter Akerley's Erdene Resource Development Corp. (ERD), up eight cents to 97 cents on 710,000 shares, has begun drilling at its Bayan Khundii gold project in southwestern Mongolia. The company plans 20,000 metres of drilling at Bayan Khundii and another 4,000 metres at the nearby Altan Nar and Altan Arrow gold deposits. Erdene fired up its first of two rigs today. It will focus on delineation and expansion drilling at Bayan Khundii, testing gold zones at the Gold Hill and Striker zones, and at the recently discovered Midfield zone. The second rig will start work at the start of May. It will probe targets farther afield on the Bayan Khundii trend, including Altan Nar, 16 kilometres northwest, and Altan Arrow, 3,500 metres northwest of Bayan Khundii.

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