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by Stockwatch Business Reporter

New York spot gold lost $0.20 to $1,188.80 on Tuesday. The TSX Venture Exchange lost 2.76 points to 505.49 while the TSX Gold Index lost 7.58 points to 164.51. Most Canadian gold miners retreated today. Yamana Gold Inc. (YRI) fell 25 cents to $3.29 on 15.98 million shares. Kirkland Lake Gold Inc. (KGI) bucked the trend, gaining 13 cents to $6.38 on 2.28 million shares.

Dominique Doucet's Sirios Resources Inc. (SOI), up two cents to 10.5 cents on 389,000 shares, has hit a new gold zone at Cheechoo in the James Bay region of Quebec. Assays are not available from the hole, the 10th of a continuing drill program, but the company's crew eyeballed five specks of gold at depths between 315.5 and 327 metres. Mr. Doucet, president and chief executive officer, says the assays should be available in a few weeks. He is optimistic for encouraging grades from the next assays, as visible gold turned up elsewhere in the same hole and in two other tests.

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