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by Stockwatch Business Reporter

New York spot gold gained $3.50 to $1,226.70 on Wednesday. The TSX Venture Exchange fell 1.25 points to 762.80 while the TSX Gold Index added 3.64 points to 193.15. Canadian gold miners rebounded today, with Barrick Gold Corp. (ABX), which was up 65 cents to $20.67 on 5.56 million shares, leading the way. Goldcorp Inc. also did well, adding 44 cents to $16.64 on 4.56 million shares. It was not all hats and horns: Detour Gold Corp. (DGC) lost 28 cents to $14.53 on 2.49 million shares.

Phillip Walford's Marathon Gold Corp. (MOZ), down one cent to $1.02 on 149,000 shares, has received assays of up to 4.79 grams of gold per tonne over a true thickness of 16.2 metres from the Marathon gold deposit on its Valentine Lake gold project in central Newfoundland. The assays, from another three holes drilled on the project, included some higher-grade hits over narrower intervals. They included a 20.38-gram-per-tonne hit across 2.6 metres embedded within the best interval. All three holes produced encouraging grades across significant intervals, again with higher-grade boosts within them.

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