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by Stockwatch Business Reporter

New York spot gold gained $5.70 to $1,202.60 on Monday. The TSX Venture Exchange gained 1.03 points to 795.54 while the TSX Gold Index rose 1.42 points to 206.89. Most Canadian gold miners were up today. Torex Gold Resources Inc. (TXG) recovered 59 cents to $27.33 on 181,000 shares.

Phillip Walford's Marathon Gold Corp. (MOZ) jumped seven cents to 73 cents on 1.14 million shares on assays from the Marathon deposit on its Valentine Lake gold project in central Newfoundland. The assays, from the last six holes drilled last fall, included a "spectacular intercept" of 25.33 grams of gold, uncut, over 14 metres. That was largely thanks to a 0.9-metre zone that assayed 310.35 grams per tonne. When that zone is cut to 33 grams per tonne, the grade of the 14-metre zone drops to a decidedly unspectacular 5.52 grams per tonne, but that is still one of the best results of the year for Marathon. (In mid-December, the company received assays of up to 5.94 grams per tonne, cut, over 17 metres.)

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