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by Stockwatch Business Reporter

New York spot gold lost $12.10 to $1,307.10 on Monday. The TSX Venture Exchange dropped 2.88 points to 776.78 while the TSX Gold Index lost 2.54 points to 198.25. Klondex Mines Ltd. (KDX) was one of the few bright lights among Canadian gold miners today, gaining eight cents to $4.35 on 1.13 million shares. Kinross Gold Corp. (K) led the retreat, dropping 31 cents to $5.57 on 6.39 million shares on word it will expand its Tasiast mine in Mauritania.

Jack Bal's Cache Exploration Inc. (CAY), down one cent to 11 cents on 1.57 million shares, has noted visible gold in drill core from its East Gold Point target at Kiyuk Lake, 350 kilometres west of Arviat in southern Nunavut. The visible gold came from the last of five holes that the company has drilled this summer on its Kiyuk project. The gold sighting is encouraging as it occurred five kilometres west of Rusty, where the first of the five holes also encountered visible gold. That Rusty hit subsequently assayed at an average of 26.4 grams of gold over eight metres.

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