This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold gained $5.20 to $1,196.30 on Thursday. The TSX Venture Exchange lost 0.79 point to 789.64 while the TSX Gold Index fell 0.31 point to 204.44. Eldorado Gold Corp. (ELD) led the decline, dropping 20 cents to $4.37 on 6.66 million shares.

Robert Hinchcliffe's Galway Metals Inc. (GWM), up 3.5 cents to 37 cents on 100,000 shares, has received assays of up to 4.6 grams of gold per tonne over 30 metres in the core of the South zone at its Clarence Stream project in southwestern New Brunswick. The interval included a zone that averaged 8.9 grams per tonne over 14 metres. The assays are from a 13-hole, 3,850-metre drill program that tested targets within and beyond the existing resource estimate. The three holes drilled beyond the deposit also hit gold, yielding assays of up to 5.5 grams per tonne over 5.5 metres.

Mr. Hinchcliffe, president and chief executive officer, says the company believed that Clarence Stream has significant exploration potential based on previous sampling, and the initial drill results bear out that optimism. He says that he and his crew "are also very excited" to be moving their drill to a target south of the south zone, where the company has found high-grade boulders and chip samples. At last report, Clarence Stream hosted 822,000 tonnes indicated at 9.11 grams per tonne, uncut, and 1.23 million tonnes inferred at 7.95 grams per tonne, for a total of 550,000 ounces. As well, Galway lists 114,000 tonnes indicated as averaging 2.9 per cent antimony.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS