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by Stockwatch Business Reporter

New York spot gold gained $1.70 to $1,215.80 on Tuesday. The TSX Venture Exchange lost 2.64 points to 749.90 while the TSX Gold Index added 1.77 points to 191.63. Tahoe Resources Inc. (THO) led Canadian golds higher, adding 38 cents to $6.81 on 7.75 million shares.

Robert McLeod's IDM Mining Ltd. (IDM), up one-half cent to 13.5 cents on 464,000 shares, has received assays of up to 10.65 grams of gold and 17.37 grams of silver per tonne over 14 metres from a step-out hole in the JW zone at its Red Mountain gold project in northwestern British Columbia. The assays, from another 14 holes drilled this year, included several other noteworthy results, although the grades were less and the intervals were narrower than in the one glittering hole.

The assays had Mr. McLeod, president and chief executive officer, in a talkative mood. He said the drilling continues to "expand the known limits of mineralization at Red Mountain" through the company's targeting of multiple zone extensions and near-mine exploration targets. Mr. McLeod was particularly enthused with the high-grade hit at JW, since it "suggests another wide area of mineralization is developing in this area." (The mineralization developed geologically eons ago; the company's geological model is experiencing the development though a hefty cash outlay.)

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