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by Stockwatch Business Reporter
New York spot gold gained $13.00 to $1,155.40 on Thursday. The TSX Venture Exchange gained 4.28 points to 504.48 while the TSX Gold Index gained 5.90 points to 156.04. Agnico Eagle Mines Ltd. (AEM) led Canadian gold miners again today, advancing $1.78 to $45 on 2.51 million shares.
Tony Makuch's Lake Shore Gold Corp. (LSG), up five cents to $1.33 on 9.69 million shares, has received assays of up to 29.42 grams of gold over 12 metres at Whitney, a gold prospect near its Bull Creek mill in the Timmins area of Northern Ontario. The assays are from holes drilled at the 110 Zone, a shallow, high-grade feature just south of the shaft for the Hallnor mine. (Whitney hosts the old Hallnor, Bonwhit and Hugh Pam gold mines, which produced 2.4 million ounces of gold in their heydays.) Two drills are currently operating on the project in a program that should last most of the year. The work will lead to an updated resource estimate using a model based on an open pit mine that transitions to an underground operation, says Mr. Makuch, Lake Shore's $660,000-a-year president and chief executive officer.
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