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by Stockwatch Business Reporter

New York spot gold gained $4.10, closing at $1,254.60 on Monday. The TSX Venture Exchange lost 0.74 point to 772.28 while the TSX Gold Index rose 3.16 points to 209.14. Most Canadian gold miners moved higher, led by Tahoe Resources Inc. (THO), which added 71 cents to $15.22 on 2.14 million shares. Premier Gold Mines Inc. (PG) lost 20 cents to $3.17 on 2.10 million shares.

Darin Wagner's Balmoral Resources Ltd. (BAR), down one cent to 91 cents on 229,000 shares, has received assays of up to 4.51 grams of gold per tonne over 26.9 metres at Martiniere, in the Detour region of Quebec. The promising assay, a new discovery adjacent to the Bug South deposit, included two zones with higher grades, including one of 22.64 grams per tonne over 3.1 metres. The latest assays are from eight holes; five drilled at Bug South and three at Bug Southeast. All eight holes produced gold, with several assays showing encouraging grades over significant intervals. Results from an additional 42 holes drilled at Martiniere are still pending.

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