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by Stockwatch Business Reporter
New York spot gold gained $1.40 to $1,281.70 on Thursday. The TSX Venture Exchange gained 5.41 points to 824.28 while the TSX Gold Index added 1.17 points to 216.76. Most Canadian gold miners moved little today. Barrick Gold Corp. (ABX) led those moving higher. It gained 38 cents to $25.86 on 6.13 million shares. Torex Gold Resources Inc. (TXG) led those in retreat. It fell 45 cents to $25.38 on 550,000 shares.
James Withall's Rupert Resources Ltd. (RUP), up two cents to $1.32 on 79,000 shares, has received assays of up to 22.75 grams of gold per tonne over a true width of 5.9 metres at the Karoliina zone on the southern flank of its Pahtavaara mine in northern Finland. The assays are from 21 surface and 23 underground holes, spanning a total of 5,159 metres. Several other promising intervals were encountered in the latest program. Mike Sutton, a Rupert director and the company's geologist, said that the results show a thickening of the Karoliina zone, adding that they came from an area adjacent to an old stope that yielded 4.5 grams of gold per tonne for the previous owner. More drilling is planned from underground in the area, which Rupert is now targeting for mining.
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