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by Stockwatch Business Reporter
New York spot gold gained $1.20 to $1,275.50 on Thursday. The TSX Venture Exchange rose 3.91 points to 793.25 while the TSX Gold Index dropped 0.48 point to 193.79. Endeavour Mining Corp. (EDV) led Canadian gold miners higher today, adding 77 cents to $23.41 on 550,000 shares. Tahoe Resources Inc. (THO) led the retreaters, dropping 15 cents to $5.96 on 700,000 shares.
John Robins and Michael Allen's Northern Empire Resources Corp. (NM), up one cent to $1 on 615,000 shares, has received assays of up to 8.37 grams of gold per tonne over 12.19 metres from drilling at its 11,600-hectare Sterling project in southern Nevada. The assays are from the first 24 holes of the company's 5,200-metre, 52-hole, phase 1 drill program that began in August. Three of the first 24 holes deviated from their target and while two others hit the target, they missed the gold. The rest produced varying amounts of gold, between 0.43 gram and 6.54 grams per tonne, across intervals ranging between 1.4 and 15.24 metres.
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