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by Stockwatch Business Reporter
New York spot gold gained $13.20 to $1,211.80 on Wednesday. The TSX Venture Exchange gained 14.41 points to 807.28 while the TSX Gold Index rose 12.77 points to 209.33. McEwen Mining Inc. (MUX) recouped Tuesday's loss, adding 53 cents to $4.53 on 1.27 million shares while Agnico Eagle Mines Ltd. (AEM) added $3.48 to $57.25 on 1.23 million shares.
Danniel Oosterman's Canstar Resources Inc. (ROX) fell today, dropping as low as 10 cents before closing off 5.5 cents to 13 cents on 1.41 million shares. The slump followed assays from the company's Kenora gold project near Wabigoon in Northwestern Ontario. The highlight was a 22-metre interval that averaged 0.5 gram of gold per tonne from a hole drilled about 150 metres northeast of the Ace showing. The assays are from eight holes spanning 1,062 metres, and while six of them produced gold, the intervals were generally narrow and the grades were modest. The only other significant interval was an eleven-metre zone that assayed 0.3 gram per tonne, and the best grade was 1.7 grams per tonne across just 0.5 metre in another hole.
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