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Gold Summary for June 29, 2016

2016-06-29 20:00 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $6.80 to $1,318.30 on Wednesday. The TSX Venture Exchange rose 13.85 points to 721.10 while the TSX Gold Index added 3.80 points to 249.12. Most Canadian gold miners followed bullion higher today, although Kirkland Lake Gold Inc. (KGI) dropped 30 cents to $10.67 on 1.63 million shares. Yamana Gold Inc. (YRI) jumped 37 cents to $6.79 on 8.65 million shares.

Tom Obradovich and Sean Roosen's Barkerville Gold Mines Ltd. (BGM), up three cents to 65 cents on 784,000 shares, has received assays of up to 30.98 grams of gold per tonne over 6.8 metres at Cow Mountain on its Cariboo gold project in British Columbia. The 18,450 metres of drilling completed in the first phase of the current program yielded several other noteworthy gold hits, including one of 119.69 grams per tonne over 2.55 metres and several others topping 20 grams per tonne over significant intervals. Mr. Obradovich, chief executive officer, says the program seeks to "upgrade areas of geological uncertainty" and to augment the company's model in untested areas. He adds that 101 holes have now been drilled throughout select areas of Cow Mountain.

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