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by Stockwatch Business Reporter

New York spot gold gained $3.40 to $1,321.70 on Thursday. The TSX Venture Exchange rose 9.34 points to 730.44 while the TSX Gold Index added 3.51 points to 252.63. Barrick Gold Corp. (ABX) led Canadian miners higher today. It added 64 cents to $27.58 on 7.38 million shares. Detour Gold Corp. (DGC) led the retreat, it fell 42 cents to $32.32 on 999,000 shares.

Frank Basa's Gold Bullion Development Corp. (GBB), up one-half cent to 8.5 cents on 338,000 shares, is acquiring a 50-per-cent interest in the Castle Golden Corridor project, a part of the Castle Silver property in Northern Ontario that is owned by Mr. Basa's Takara Resources Inc. (TKK: $0.04). (Gold Bullion is getting its interest in the 91-hectare project in lieu of $60,000 in property payments owed to it.) Mr. Basa, chairman, president and chief executive officer, says the gold potential of the area was overlooked historically, and "many intriguing possibilities are starting to be recognized."

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