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by Stockwatch Business Reporter

New York spot gold gained $12.00 to $1,292.30 on Tuesday. The TSX Venture Exchange gained 3.37 points to 800.58 while the TSX Gold Index rose 10.31 points to 218.58. Canadian golds were strong today, with Iamgold Corp. (IMG) leading the way. It gained 71 cents to $6.78 on 9.29 million shares.

Richard Warke and Gerald Panneton's Newcastle Gold Ltd. (NCA), up five cents to 95 cents on 2.47 million shares, has received assays of up to 2.77 grams of gold per tonne over 103.6 metres from another 30 holes drilled on the southern portion of the main Oro Belle trend, near the old JSLA pit on its Castle Mountain gold project in southern California. Last week, drilling in the South Domes area produced a similar hit: 2.76 grams per tonne over 102.7 metres. Mr. Panneton, president and chief executive officer, says the definition drilling at Castle Mountain "continues to generate high-grade mineralization intercepts" beyond the mineral resource defined two years ago.

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