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by Stockwatch Business Reporter

New York spot gold fell $5.50 to $1,263.50 on Thursday. The TSX Venture Exchange fell 6.26 points to 800.41 while the TSX Gold Index slipped 3.05 points to 202.21. Most gold miners fell today, some hard. One of those was Goldcorp Inc. (G), which dropped 94 cents to $18.78 on 6.99 million shares. Richmont Mines Inc. (RIC), going against the trend, added eight cents to $9.88 on 464,000 shares.

Mark O'Dea and Darin Labrenz's Pure Gold Mining Inc. (PGM), down three cents to 55 cents on 305,000 shares, has received assays of up to 133.4 grams of gold per tonne over two metres from the McVeigh zone at its Madsen gold project, near Red Lake in Northwestern Ontario. Most of that gold occurred in a one-metre interval that averaged 264.9 grams per tonne. The glittering assay came from one of four "select drill holes" deemed worthy of mention by the company. (It did not say how many holes produced "unselected" assays, but it could have been quite a few as Pure Gold has four rigs currently operating at Madsen.)

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