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by Stockwatch Business Reporter
New York spot gold lost $4.60 to $1,502.20 on Wednesday. The TSX Venture Exchange slipped 0.78 point to 575.90 while the TSX Gold Index lost 0.89 point to 252.73. Most Canadian golds moved lower today, helped by Yamana Gold Inc. (YRI), which lost 11 cents to $4.44 on 5.98 million shares.
It has been quite a year for Chris Taylor's Great Bear Resources Ltd. (GBR). The company's stock, 50 cents last August, added 18 cents to $5.59 on 173,000 shares today on receipt of new assays from the company's Dixie gold project, near Red Lake. The assays, from 12 new holes into the Hinge and Dixie Limb zones, hit a new, shallow, high-grade zone at Hinge. That hit, into a deeply-plunging zone to the west and above the Hinge zone, produced 7.4 grams of gold per tonne over 13.2 metres, aided by a 2.5-metre zone that averaged 30.81 grams per tonne. The drilling also yielded plenty of intersections into the predicted locations of both Hinge and Dixie Limb.
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