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by Stockwatch Business Reporter

New York spot gold fell $9.70 to $1,284.80 on Tuesday. The TSX Venture Exchange lost 1.41 points to 791.08 while the TSX Gold Index added 0.20 point to 199.89. Iamgold Corp. (IMG) led Canadian gold miners lower today. It fell 39 cents to $7.09 on 7.73 million shares. Torex Gold Resources (TGX) had a better day. It added 35 cents to $19.18 on 397,000 shares.

Bill Fisher's Goldquest Mining Corp. (GQC), up two cents to 35.5 cents on 475,000 shares, has received assays of up to 7.86 grams of gold and 39.6 grams of silver per tonne, plus promotable amounts of base metals, over 20.96 metres from its Cachimbo discovery on the Tireo project in the Dominican Republic. That hit, which averages 10.21 grams per tonne of gold equivalent, was embedded within a 59.46-metre zone that averaged 4.44 grams of gold equivalent per tonne. The other assays are from another eight holes, all of which revealed gold, although in considerably smaller amounts. (A second hole managed 2.87 grams of gold equivalent over 17.8 metres and a third yielded 1.92 grams per tonne over 12.81 metres. The grades of the other five holes were less than one gram per tonne.)

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