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by Stockwatch Business Reporter

New York spot gold fell $2.50 to $1,218.60 on Wednesday. The TSX Venture Exchange gained 9.10 points to 783.24 while the TSX Gold Index added 2.31 points to 205.07. Most Canadian golds moved higher. Tahoe Resources Inc. (THO) added 36 cents to $12.28 on 3.21 million shares, while McEwen Mining Inc. (MUX) recovered 11 cents to $3.72 on 905,000 shares.

Eric Owens's Alexandria Minerals Corp. (AZX), unchanged at seven cents on 4.01 million shares, has received assays of up to nine grams of gold per tonne over 13.89 metres at Zone 4, on its Orenada property in the Val d'Or region of Quebec. The assays are from another two holes drilled on the zone. The better of the two holes produced several other gold intervals, including a 15.35-metre zone that averaged 6.29 grams per tonne and a 12-metre hit that ran 4.85 grams per tonne. The other hole also encountered gold, but the assays were not as promotable, primarily because the hole had to be terminated before reaching the desired depth.

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