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by Stockwatch Business Reporter

New York spot gold fell $16.40 to $1,331.90 on Friday. The TSX Venture Exchange slid 32.03 points to 811.68 while the TSX Gold Index lost 5.29 points to 188.74. Canadian golds moved sharply lower today, led by Klondex Mines Ltd. (KDX), which slumped 36 cents to $2.44 on 1.84 million shares. China Gold International Resources Corp. (CGG) was one of the few gainers, adding two cents to $2.13 on 604,000 shares.

Stuart Angus and John Lewins's K92 Mining Inc. (KNT), up one-half cent to 43.5 cents on 490,000 shares, has received assays of up to 23.66 grams of gold and 27 grams of silver per tonne, plus 0.16 per cent copper, over a true width of 4.63 metres at its Kainantu gold mine in Papua New Guinea. The assays, from several grade control holes drilled from underground, produced a few other high-grade hits although the intervals were generally narrow. Nevertheless, high grades are no surprise as some of the veins at Kainantu yield impressive amounts of gold. K92 has new assays from face sampling at the K1 Kora vein ranging as high as 131.63 grams of gold per tonne and 1.55 per cent copper across 3.2 metres.

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