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by Stockwatch Business Reporter

New York spot gold fell $1.40 to $1,258.70 on Thursday. The TSX Venture Exchange lost 0.99 point to 769.21 while the TSX Gold Index slipped 1.45 points to 192.73. Most Canadian golds were lower today, with Goldcorp Inc. (G) losing $1.07 to $16.07 on 9.80 million shares. Detour Gold Corp. (DGC) was strong, it added $1.84 to $15.66 on 3.59 million shares.

Renaud Adams's Richmont Mines Inc. (RIC), down six cents to $10.35 on 574,000 shares, has received assays of up to 19.85 grams of gold per tonne over a true width of 8.4 metres at its Island gold mine, northeast of Wawa in Northern Ontario. That hit occurred in the eastern portion of the down-plunge extension of the main Island deposit, a focus of the current exploration drilling. The deep drilling produced a few other noteworthy grades over significant intervals, including 11.67 grams per tonne over 9.42 metres. Many other higher-grade assays were received from the company's continuing infill drilling program. (Three drills are currently operating in the 103,000-metre program at Island. So far, just over 40,000 metres have been completed.)

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