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by Stockwatch Business Reporter

New York spot gold gained $11.90 to $1,283.00 on Wednesday. The TSX Venture Exchange lost 0.38 point to 769.49 while the TSX Gold Index added 2.66 points to 198.96. Most Canadian golds were higher today, although Endeavour Mining Corp. (DGC) was a laggard, dropping five cents to $23.06 on 231,000 shares. Yamana Gold Inc. (YRI) added 17 cents to $3.41 on 4.04 million shares.

Rodney Lamond's Jaguar Mining Inc. (JAG), up one cent to 25 cents on 2.22 million shares, has received assays of up to 10.8 grams of gold per tonne over 29.3 metres at its "emerging Pilar mine" in Minas Gerais, Brazil. The high-grade hit, one of four holes drilled in the immediate vicinity of Pilar, included a 10.2-metre interval that averaged 17.3 grams per tonne. Mr. Lamond, president and chief executive officer, says that the new assays "demonstrate the expected continuity of high-grade mineralized structures well beyond current mine plans." He added that the increased grade and thickness at depth will "build confidence in the potential" for adding substantial new resources to the Pilar mine.

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