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by Stockwatch Business Reporter

New York spot gold lost $1.80 to $1,255.40 on Tuesday. The TSX Venture Exchange rose 0.64 point to 740.34 while the TSX Gold Index added 0.45 point to 193.80. Canadian gold miners moved little today. Centerra Gold Inc. (CG) dropped 14 cents to $6.26 on 1.59 million shares. The stock was trading above $7.50 last week, when it said that it is still seeking adequate water supplies to keep its Mount Milligan mine in British Columbia operating at capacity through the winter. New Gold Inc. (NGD) added eight cents to $2.80 on 1.34 million shares.

Eric Fier's Silvercrest Metals Inc. (SIL), up 37 cents to $3.31 on 1.18 million shares, has received assays of up to 54.59 grams of gold and 6,534 grams of silver per tonne across a true width of 1.5 metres from an expansion hole drilled at the Babicanora Footwall vein at its Las Chispas project in Sonora, Mexico. There were several other high-grade hits reported, although they paled in comparison with the one glittering result. The Babicanora Footwall vein is subparallel to the Babicanora and about 30 metres to the north; the two veins appear to intersect near the Area 51 vein. There are 23 veins identified so far on the property and 11 have yielded high-grade mineralization through drilling.

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