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by Stockwatch Business Reporter

New York spot gold lost $3.40 to $1,253.90 on Tuesday. The TSX Venture Exchange lost 0.51 point to 765.17 while the TSX Gold Index fell 0.80 point to 191.71. Most Canadian golds moved little today. Eldorado Gold Corp. (ELD) added six cents to $2.39 on 5.45 million shares while McEwen Mining Inc. (MUX) lost 25 cents to $2.77 on 804,000 shares.

Tony Makuch's Kirkland Lake Gold Ltd. (KL), up 28 cents to $13.04 on 1.54 million shares, has received assays of up to 338 grams of gold per tonne over 33.6 metres at its Fosterville mine in Australia. (Unfortunately, the estimated true width of the interval shrinks to just 4.6 metres.) The assays are from six holes drilled into the existing mineral resources and the Lower Phoenix Footwall zone, now called the Swan zone. Mr. Makuch, president and chief executive officer, says that the latest results continue to show both continuity and growth potential for the high-grade Swan zone, which he describes as the "highest-grade area" within the Fosterville mine.

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