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by Stockwatch Business Reporter

New York spot gold gained $2.90 to $1,227.70 on Friday. The TSX Venture Exchange gained 5.26 points to 793.64 while the TSX Gold Index added 3.00 points to 213.96. Most Canadian golds moved higher, with Agnico Eagle Mines Ltd. (AEM) adding $1.18 to $66.33 on 1.46 million shares.

Richard Hall and Paul Andre Huet's Klondex Mines Ltd. (KDX), down two cents to $4.58 on 2.10 million shares, has increased its reserves at the True North gold mine near Bissett in eastern Manitoba. The company now lists 434,000 tonnes at 8.30 grams per tonne for 105,000 ounces underground, plus 1.95 million tonnes of tailings at 0.75 gram per tonne providing another 43,000 ounces. This is a 25-per-cent increase over the earlier estimate. Brian Morris, senior vice-president of exploration, called the change "another milestone in the ramp-up of True North," adding that the project is "beginning to unveil its real potential" thanks to robust grades and widths in the 710/711 zones.

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