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by Stockwatch Business Reporter

New York spot gold gained $2.80 to $1,220.00 on Wednesday. The TSX Venture Exchange gained 8.58 points to 758.48 while the TSX Gold Index dipped 2.07 points to 189.53. Tahoe Resources Inc. (THO) bucked the trend today, gaining three cents to $6.84 on 4.24 million shares.

Darin Wagner's Balmoral Resources Ltd. (BAR), up one cent to 67 cents on 449,000 shares, has received assays of up to 3.51 grams of gold per tonne over 14.28 metres in an extension of the Bug South deposit at Martiniere, on the Detour gold trend in Quebec. The assays, from another five holes, produced some longer hits during infill drilling, including 1.77 grams per tonne over 38.78 metres and 1.26 grams per tonne over 48.7 metres. The company also received assays from two other holes that probed the eastern and western margins of Bug North. Both hit gold, but the grades were lower and the intervals narrower than the promotable hits at Bug South.

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