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by Stockwatch Business Reporter

New York spot gold fell $12.00 to $1,264.00 on Tuesday. The TSX Venture Exchange fell 13.67 points to 804.39 while the TSX Gold Index dipped 8.79 points to 204.04. Canadian gold miners swooned with bullion's fall today. Barrick Gold Corp. (ABX) led the retreat, surrendering $2.82 to $22.89 on 15.89 million shares on word it had missed the market's target for earnings.

Mark O'Dea and Cal Everett's Pilot Gold Inc. (PLG), down 2.5 cents to 48.5 cents on 651,000 shares, has received assays of up to 1.93 grams of gold per tonne over 15.2 metres at its Goldstrike oxide gold project in southwestern Utah. The top assay came from either the Warrior or the Aggie target -- Pilot does not say which -- but it also got encouraging results from the Peg Leg target, which produced 2.05 grams per tonne over 9.1 metres, and the Dip Slope target, which yielded 1.02 grams per tonne over 9.1 metres. In the end, it may not matter if the top assay came from Aggie, or Warrior, about 300 metres to the west-northwest of Aggie, as Mr. Everett, president and chief executive officer, says that Pilot is drilling to determine if the two zones are in fact one larger deposit. Indeed, the latest drilling has extended Aggie about 150 metres to the west.

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