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by Stockwatch Business Reporter

New York spot gold lost $2.50 to $1,319.50 on Friday. The TSX Venture Exchange rose 15.33 points to 895.71 while the TSX Gold Index lost 2.07 points to 196.62. Slumping Torex Gold Resources Inc. (TXG), was one of a few to buck the trend today. It gained two cents to $10.35 on 1.20 million shares. Iamgold Corp. (IMG) led the retreat. It fell 21 cents to $7.42 on 1.95 million shares.

Cal Everett and Dr. Moira Smith's Liberty Gold Corp. (LGD), unchanged at 45 cents on 85,000 shares, has received encouraging assays from several holes drilled at its Black Pine gold project in southern Idaho. One hole, drilled near an old open-pit mine, produced 0.58 gram of gold per tonne across nearly 40 metres, an interval occurring near the surface. That was no surprise, as the pit produced nearly 200,000 ounces of gold from 11.2 million tonnes of ore averaging 0.6 gram of gold per tonne. The encouragement stems from deeper zones that averaged 1.1 grams per tonne across 15.2 metres and 1.49 grams of gold per tonne over 77.7 metres. That latter interval was enhanced by a 6.1-metre subinterval that averaged 5.64 grams per tonne. A second hole produced 0.53 gram per tonne across 27.4 metres, also near the surface.

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