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by Stockwatch Business Reporter

New York spot gold gained $1.70 to $1,347.20 on Tuesday. The TSX Venture Exchange slipped 4.41 points to 797.55 while the TSX Gold Index rose 0.23 point to 189.59. Torex Gold Resources Inc. (TXG) led Canadian gold miners higher today, adding 55 cents to $13.68 on 659,000 shares.

Jeff Swinoga's First Mining Gold Corp. (FF), up one-half cent to 49.5 cents on 1.99 million shares, has received assays of up to 6.26 grams of gold per tonne across 72 metres at Goldlund, near Sioux Lookout in Northwestern Ontario. The lengthy hit was supported by a few high-grade subintervals, including a 1.05-metre zone that averaged 367 grams per tonne. The assays are from a 13-hole infill drilling program that targeted Zone 1. Twelve of the holes encountered gold, five of which produced noteworthy assays. Two of them yielded long hits, one of 76 metres and another of 68 metres, but the grades were lower, 0.43 gram per tonne and 0.62 gram per tonne respectively.

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