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by Stockwatch Business Reporter

New York spot gold slipped $59.20 to $4,104.80 on Tuesday. The TSX Venture Exchange lost more ground, dropping 31.09 points to 893.12, while the TSX gold index shed 27.04 points to 765.57. Most precious metals miners moved lower today, some with gusto. Avino Silver & Gold Mines Ltd. (ASM) slid 74 cents to $8.63 on 1.25 million shares, while Americas Gold and Silver Corp. (USA) lost 71 cents to $6.22 on 2.48 million shares and Hudbay Minerals Inc. (HBM) lost $2.58 to $30.58 on 5.02 million shares.

Shane Williams's West Red Lake Gold Mines Ltd. (WRLG) lost one cent to 64 cents on 2.91 million shares on new assays from drilling in the Austin area of its Madsen mine, near Red Lake in Northwestern Ontario. The headline hits among the 36 new holes had a 3.85-metre interval return 43.38 grams of gold per tonne and a 3.1-metre intercept manage 53.87 grams of gold per tonne -- both aided by narrow subintervals with bonanza-grade gold running about 10 ounces of gold per tonne. Both hits came from the 955 area, while the best result from the 904 zone was a 4.15-metre interval grading 23.94 grams per tonne.

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