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by Stockwatch Business Reporter
New York spot gold fell $9.20 to $1,277.60 on Thursday. The TSX Venture Exchange fell 1.57 points to 791.31 while the TSX Gold Index dipped 3.78 points to 213.93. Canadian golds were weaker today. Eldorado Gold Corp. (ELD) led the retreat, dropping 40 cents to $3.85 on 12.97 million shares. Iamgold Corp. (EDV) bucked the trend, gaining 11 cents to $6.82 on 6.26 million shares.
Peter Akerley's Erdene Resource Development Corp. (ERD), up four cents to $1.21 on 473,000 shares, has received assays of up to 2.82 grams of gold per tonne over 108.3 metres from drilling at a new area, north of its Midfield zone at its Bayan Khundii gold project in southwestern Mongolia. A second hole in the area produced 2.86 grams per tonne over 55.4 metres. Assays are pending for two other step-out holes drilled in the same area, and the company is optimistic about those tests, as visible gold was observed in the drill core. Erdene also received assays from five holes drilled east of Midfield, four holed drilled to the south and east of the Striker zone and four holed drilled in the Northeast zone. Those tests produced lesser amounts of gold over lesser intervals.
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