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by Stockwatch Business Reporter

New York spot gold fell $4.30 to $1,280.50 on Wednesday. The TSX Venture Exchange lost 6.39 points to 784.69 while the TSX Gold Index dipped 2.60 points to 197.29. Iamgold Corp. (IMG), yesterday's downer, was one of a few bright lights among Canadian gold miners today. It added three cents to $7.12 on 3.55 million shares. New Gold Inc. (NGD) dropped 20 cents to $4.41 on 1.76 million shares.

John Moraal and Kevin Whelan's Great Thunder Gold Corp. (GTG), down one-half cent to 3.5 cents on 1.76 million shares, has wrapped up its two-week-long first phase of exploration at its Urban Thunder gold project in the Windfall district of northwestern Quebec. Mr. Whelan, president and chief executive officer, says that the company collected about 300 soil samples that will allow it to "begin refining its second-phase planning." Going into the sampling program, Mr. Whelan had expressed his encouragement with the results of a previous airborne magnetic survey that showed at least three magnetic highs -- one of which was centred on the basalts, the primary gold target. The other two, centred on the Hubert pluton, he believes could expand the metals hunt to include nickel and copper.

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