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by Stockwatch Business Reporter

New York spot gold fell $5.90 to $1,187.90 on Tuesday. The TSX Venture Exchange slipped 1.90 points to 734.91 while the TSX Gold Index lost 0.57 point to 195.03. Torex Gold Resources Inc. (TXG) led the advancers, gaining 42 cents to $20.83 on 706,000 shares, while Endeavour Mining Corp. (EDV) led the retreat, losing 55 cents to $20.38 on 291,000 shares.

Craig Lindsay's Otis Gold Corp. (OOO), unchanged at 23 cents on 388,000 shares, has received assays of up to 2.50 grams of gold per tonne over 85.4 metres at its Kilgore gold project in Idaho. The assays are from another 13 holes recently drilled in the company's now complete 40-hole, 10,300-metre program. Three of the latest tests failed to hit gold but several others returned significant amounts of gold over encouraging intervals. As well, the first batch of assays, received in late September, included a hit of 1.55 grams per tonne over 120.4 metres. A second set, received in late October, produced up to 5.37 grams per tonne over 30.5 metres. Assays of the final 12 tests are pending.

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