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by Stockwatch Business Reporter

New York spot gold lost $0.70 to $1,232.20 on Friday. The TSX Venture Exchange rose 6.40 points to 651.35 while the TSX Gold Index dipped 0.02 point to 166.28. Most Canadian gold miners drifted lower today, led by Endeavour Mining Corp. (EDV), which shed 32 cents to $19.80 on 331,000 shares, and Barrick Gold Corp. (ABX), which fell 22 cents to $17.28 on 5.48 million shares. Alacer Gold Corp. (ASR) went the other way, adding four cents to $2.19 on 1.57 million shares.

Jean-Pierre Colin and Michael Stares's White Metal Resources Corp. (WHM) jumped 2.5 cents to 7.5 cents on 9.29 million shares. The company has received assays of up to 229.3 grams of gold per tonne from sampling at its Little Joanna gold property in central Newfoundland. The assays from seven grab samples averaged 48.5 grams per tonne and all seven yielded at least anomalous grades. Grab samples are not representative of course, as geologists often pick the best rocks; indeed, the one glittering rock contained visible gold.

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