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by Stockwatch Business Reporter

New York spot gold rose $12.70 to $1,320.80 on Thursday. The TSX Venture Exchange gained 3.93 points to 776.85 while the TSX Gold Index added 2.34 points to 210.24. Most Canadian golds were up today. Klondex Mines Ltd. (KDX) gained 21 cents to $4.20 on 1.72 million shares while Richmont Mines Inc. (RIC) dropped 10 cents to $11.47 on 307,000 shares.

Christopher Anderson and Lorne Mann's Great Atlantic Resources Corp. (GR), up 2.5 cents to 21 cents on 554,000 shares, has received assays of up to 332.67 grams of gold per tonne from trench sampling at its Golden Promise project in central Newfoundland. The samples were collected in the northern area of the property that hosts previously identified gold-bearing quartz veins. A few days ago, Great Atlantic received assays of up to 200 grams of gold per tonne from grab sampling in an area about eight kilometres northeast of the Jaclyn Main zone.

The latest area of interest surrounds Jaclyn Main, which hosts a nine-year-old inferred resource of 921,000 tonnes averaging 3.02 grams of gold per tonne, or just under 90,000 ounces. (A bulk test in 2010 averaged 4.47 grams per tonne and the resulting tails contained 1.12 grams per tonne, so Great Atlantic touts the head grade of the rock at 5.59 grams per tonne.) Jaclyn Main has been traced for a strike length of about 800 metres east-northeastward through trenching and limited drilling to a depth of about 420 metres. Great Atlantic's trenching has focused on Jaclyn North, 250 metres north of the main zone, and Jaclyn South, 300 metres south of the main zone.

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