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by Stockwatch Business Reporter

New York spot gold jumped $20.00 to $1,339.70 on Wednesday. The TSX Venture Exchange gained 10.80 points to 781.71 while the TSX Gold Index added 10.72 points to 271.18. Canadian gold miners were strong again today, with Agnico Eagle Mines Ltd. (AEM) adding $2.59 to $72.19 on 1.02 million shares. Iamgold Corp. (IMG) moved sharply higher, gaining 48 cents to $6.59 on 5.81 million shares.

Grenville Thomas's Westhaven Ventures Inc. (WHN), unchanged at 13.5 cents on 274,000 shares, has received assays of up to 0.27 gram of gold per tonne over 119.6 metres in one of three holes drilled into the recently discovered Alpine zone at its Shovelnose project in south-central British Columbia. The interval, which commenced at the top of bedrock, contained two narrow, high-grade intervals, including one that averaged 16.7 grams of gold and 29.9 grams of silver over 0.5 metre. Mr. Thomas, president and chief executive officer, says the Alpine drill hit represents a potentially larger, higher-grade mineralized system at depth, although further drilling is needed to clarify the potential continuity within the large zone. Westhaven also drilled two holes into the Tower zone in its five-hole, 1,177-metre drill program. One of the tests yielded assays of 0.3 gram of gold per tonne over 33 metres.

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