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by Stockwatch Business Reporter

New York spot gold rose $3.10 to $1,227.80 on Tuesday. The TSX Venture Exchange slipped 1.92 points to 835.52 while the TSX Gold Index slid 1.07 points to 224.78. Yamana Gold Inc. (YRI) led the retreat. It slipped nine cents to $4.47 on 8.62 million shares. Klondex Mines Ltd. (KDX) led the advancers. It gained four cents to $7.44 on 1.73 million shares.

John Adams and Richard Munson's Sandspring Resources Ltd. (SSP), down two cents to 60 cents on 650,000 shares, has received assays of up to 39.56 grams of gold per tonne over 10.5 metres from the Sona Hill satellite deposit at its Toroparu project in Guyana. The results are from the remaining 44 infill and four step-out drill holes completed in the 8,000-metre drill program last year. (The stellar assay was an infill test; the best result from the step-out holes was a 2.49-gram-per-tonne average over 15.7 metres.) Sandspring also has assays from several holes drilled at Wynamu Hill, which yielded lesser amounts of gold.

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