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by Stockwatch Business Reporter

New York spot gold fell $18.50 on Tuesday, closing at $3,323.60. The TSX Venture Exchange lost 3.77 points to 782.77 while the TSX gold index fell 7.02 points to 497.15. (My, but that 500-mark is a hard nut to keep cracked.) There were some nasty falls today. Newmont Corp. (NGT) tumbled over $7 early on, ending the day down $4.64 to $78.68 on 1.26 million shares in silence. Americas Gold and Silver Corp. (USA) kept it company, falling seven cents to $1.29 on 3.85 million shares. Novagold Resources Inc. (NG), on the other hand, added eight cents to $6.80 on 1.46 million shares.

And now for the news: Matt Badylak's Galiano Gold Inc. (GAU), up four cents to $1.97 on 284,000 shares, has drilled a 36.2-metre interval grading 2.5 grams of gold per tonne at depth at its Abore deposit, at Asanko in Ghana. The hit came from a four-hole stepout drilling program and all four holes intercepted mineralization. A second managed 3.1 grams per tonne across 16.1 metres and a third produced 1.9 grams per tonne over 17.2 metres. (No headline reel for the fourth hole -- it mustered just 0.6 gram per tonne across three metres.)

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