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by Stockwatch Business Reporter

New York spot gold lost $19.40 to $1,949.30 on Wednesday. The TSX Venture Exchange fell 4.1 points to 514.05 while the TSX gold index lost 7.08 points to 262.18. Pan American Silver Corp. (PAAS) reported a $22.7-million (U.S.) loss in its third quarter and so its stock lost $1.84 to $18.80 on 1.42 million shares today. Headed the other way was Artemis Gold Inc. (ARTG), which added 13 cents to $5.57 on 212,000 shares.

David D'Onofrio's White Gold Corp. (WGO) added one cent to 23 cents on 111,000 shares on word that it has drilled a 46.5-metre near-surface interval averaging 2.96 grams of gold per tonne at the Betty Ford target on its Betty property in Yukon. A 25-metre subinterval graded just over five grams of gold per tonne, adding to the encouragement. Assays from a fourth hole drilled into Betty Ford this year are pending.

One of the two other holes at Betty Ford yielded similar promise in early September, with word that a 53-metre near-surface intersection had graded 3.38 grams per tonne. That encounter held two higher-grade intervals, with a midsection grading 7.19 grams per tonne over 6.3 metres and a lower subsection grading eight grams per tonne over 4.35 metres. The other hole did not hit that near-surface zone. Instead, it returned 1.2 grams per tonne across 8.3 metres at depth.

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