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by Stockwatch Business Reporter

New York spot gold jumped $11.10 to $1,228.40 on Friday. The TSX Venture Exchange rose 4.59 points to 757.52 while the TSX Gold Index added 1.81 points to 188.35. Richmont Mines Inc. (RIC) led Canadian golds higher. It added 73 cents to $9.73 on 1.12 million shares.

Dustin Angelo's Anaconda Mining Inc. (ANX), up one-half cent to six cents on 268,000 shares, has received assays of up to 3.63 grams of gold per tonne over 12 metres at its Argyle discovery, about 4.5 kilometres from its Pine Cove mill and tailings facility at Point Rousse, in Newfoundland. The assays are from the first four of eight holes at Argyle. The three other holes also produced gold, with one averaging 3.22 grams per tonne over four metres. Mr. Angelo, president and chief executive officer, says that the work so far has expanded Argyle up to 100 metres down-dip in the northeast and has shown continuity of a higher-grade zone over a further 50 metres down-dip to the north.

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