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by Stockwatch Business Reporter

New York spot gold jumped $23.20 to $1,977.70 on Tuesday. The TSX Venture Exchange lost 1.03 points to 624.41 while the TSX gold index jumped 4.87 points to 295.94. Most Canadian gold miners jumped in tandem with bullion today. McEwen Mining Inc. (MUX), an $11 stock in June and an $8 stock earlier this month, continued its latest rebound today, adding 59 cents to $12.06 on 62,000 shares. Agnico Eagle Mines Ltd. (AEM) did well, adding $1.52 to $70.92 on 2.49 million shares.

Today was therefore a great day to roll out good news, even if the news is a bit anticlimactic. Scott Berdahl's Snowline Gold Corp. (SGD) added 17 cents to $4.46 on two million shares on word it has drilled a 414.5-metre interval averaging 1.53 grams of gold per tonne in the Valley zone at its Rogue project in east-central Yukon. The hit began near surface, as did a higher-grade portion that averaged 2.92 grams per tonne over 143.5 metres. A second hole revealed today managed 1.01 gram of gold per tonne over 396.5 metres.

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