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by Stockwatch Business Reporter

New York spot gold closed down $1.80 to $1,113.50 on Wednesday. The TSX Venture Exchange gained 1.31 points to 525.89 while the TSX Gold Index fell 3.98 points to 120.18. Decliners abounded today among Canadian gold miners. Iamgold Corp. (IMG) was back to its losing way of late, dropping 13 cents to $2.05 on 2.36 million shares. Eldorado Gold Corp. fell as well, losing 23 cents to $4.05 on 4.38 million shares.

Wolf Wiese's Golden Dawn Minerals Inc. (GOM) gained one cent to 18 cents on 300,000 shares thanks to assays from reconnaissance samples collected at its Greenwood gold project in southeastern British Columbia. Most of the results from the old May Mac mine were unimpressive, but a test of one quartz vein yielded 13 grams of gold per tonne over 0.87 metre in the Lower No. 2 adit, while a second quartz vein in the Glory Hole zone yielded 6.2 grams over 0.60 metre. The results are not surprising; in the early 1900s a 32-tonne batch of rock from the Lower No. 2 adit averaged 319 grams of gold per tonne, while the main May Mac mine averaged 5.2 grams of gold and 193 grams of silver from 3,574 tonnes of ore.

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