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by Stockwatch Business Reporter

New York spot gold gained $3.70 to $1,246.30 on Wednesday. The TSX Venture Exchange gained 1.71 points to 771.80 while the TSX Gold Index added 3.49 points to 200.84. Goldcorp Inc. (G) led Canadian gold miners higher today. It gained 54 cents to $17.85 on 4.01 million shares. Richmont Mines Inc. (RIC) was also strong. It rose 44 cents to $10.15 on 341,000 shares.

Elgin Wolfe and Quentin Yarie's Red Pine Exploration Inc. (RPX), up one-half cent to 10 cents on 331,000 shares, has received assays of up to 11.82 grams of gold per tonne over 3.49 metres at its South zone near the old Minto mine on its Wawa gold project in Northern Ontario. The assays are partial results from another four holes drilled earlier this year on the project. The other tests produced lower grades of gold. Last week, Red Pine received assays of up to 19.82 grams per tonne over three metres in the southern extension of the Minto zone.

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