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by Stockwatch Business Reporter

New York spot gold gained $10.80 to $1,260.40 on Wednesday. The TSX Venture Exchange rose 6.43 points to 770.2 while the TSX Gold Index added 4.57 points to 194.18. Most Canadian golds moved higher today, led by Agnico Eagle Mines Ltd. (AEM), which leapt $2.22 to $59.02 on 1.08 million shares. New Gold Inc. (NGD) was also strong. It gained 16 cents to $3.91 on 1.84 million shares.

Ewan Downie and John Begeman's Premier Gold Mines Ltd. (PG), up 14 cents to $3.37 on 1.13 million shares, has received assays of up to 13.3 grams of gold per tonne over 15.8 metres at its McCoy-Cove project in Nevada. The assays are from the latest six holes. Two were abandoned because they strayed off course but the other four all produced high-grade gold hits. Chad Peters, the company's Nevada exploration manager, says the assays are demonstrating good continuity and grades within the resource area. The infill drilling is providing additional data at the Helen and CSD Gap deposits that are expected to be the basis of a preliminary economic assessment, expected by the end of the year.

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