This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold gained $3.10 to $1,353.30 on Thursday. The TSX Venture Exchange fell 1.97 points to 834.20 while the TSX Gold Index dipped 0.63 point to 190.95. Kinross Gold Corp. (K) led Canadian gold miners lower, falling 39 cents to $4.97 on 21.93 million shares.

Akiba Leisman's Marlin Gold Mining Ltd. (MLN), down one cent to 58 cents on 131,000 shares, has received assays of up to 8.15 grams of gold per tonne over 6.1 metres at its Six Mile Hill target, about two kilometres southwest of its Pearce Hill deposit on the Commonwealth project in Arizona. Marlin encountered gold in six of the seven holes drilled late last year but most of the grades were only so-so. A second hole produced 3.1 grams per tonne across 22.86 metres and a third yielded 1.2 grams per tonne over 6.09 metres; the rest produced assays of less than one gram per tonne.

The grades are nevertheless in line or better than those at Pearce Hill, where Marlin currently lists 35.6 million tonnes measured and indicated at 0.38 gram of gold and 30.8 grams of silver per tonne, providing 433,000 ounces of gold and 35.3 million ounces of silver. Mr. Leisman, executive chairman and interim chief executive officer, says that Six Mile Hill continues to produce positive drill results that add to the district potential of the Commonwealth project. He says that the grades encountered support both open-pit and underground targets. Mr. Leisman adds that it is exciting to be following up on these results from Six Mile Hill as "we are only beginning to understand the potential of the deposit. He plans to enhance that understanding through a round of core drilling.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS