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by Stockwatch Business Reporter

New York spot gold fell $5.10 to $1,334.60 on Thursday. The TSX Venture Exchange gained 3.24 points to 784.94 while the TSX Gold Index slipped 1.43 points to 269.75. Most Canadian gold miners followed bullion lower today. Most of the losses were small, although Goldcorp Inc. (G) slumped $1.55 to $23.36 on 11.72 million shares. Agnico Eagle Mines Ltd. (AEM) was strong again, adding $2.34 to $74.53 on 1.19 million shares.

Paul Martin's Detour Gold Corp. (DGC), down $1.35 to $31.83 on 2.14 million shares, has received encouraging assays from drilling at zone 58N at Lower Detour, six kilometres south of its Detour Lake mine. The best of the assays, which are from a 119-hole infill drilling program, included a 23.2-metre interval that averaged 34.98 grams of gold per tonne. Jean-Francois Metail, vice-president of mineral resource management, said he and his crew were highly encouraged with the infill drilling. He says that a second round of drilling is under way, adding that Detour will continue with its interpretation and engineering work at 58N. Mr. Metail says a decision to proceed with an underground exploration program at 58N is expected late this year.

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