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by Stockwatch Business Reporter

New York spot gold gained $10.90 to $1,253.80 on Monday. The TSX Venture Exchange rose 0.54 point to 804.14 while the TSX Gold Index gained 4.08 points to 215.22. Agnico Eagle Mines Ltd. (AEM), up $1.05 to $59.71 on 1.07 million shares, led the advance.

Darin Labrenz's Pure Gold Mining Inc. (PGM), down one cent to 54 cents on 505,000 shares, has received new assays from its Madsen gold project near Red Lake in Northwestern Ontario. The company has been producing high-grade hits at the Austin and McVeigh zones for over a year. Now it is expressing encouragement with hits from another zone: Russet South. The latest assays include two 1.9-metre hits of 23.1 and 21.4 grams of gold per tonne, with a third interval that assayed 14.3 grams per tonne over two metres. Mr. Labrenz, president and chief executive officer, says the new holes "add critical mass to Russet South," which he says is shaping up to be an important component of the company's modern development strategy. Mr. Labrenz calls the gold at Russet South widespread, noting that the hew hits are 200 metres north and along strike from the holes drilled in 2015 and 2016.

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