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by Stockwatch Business Reporter
New York spot gold fell $0.30 to $1,253.40 on Friday. The TSX Venture Exchange gained 4.29 points to 775.91 while the TSX Gold Index dipped 1.09 points to 197.95. Most Canadian gold miners lost ground today. Tahoe Resources Inc. (THO) dropped 13 cents to $11.06 on 3.57 million shares. Torex Gold Resources Inc. (TXG) had a strong day. It gained 59 cents to $22.79 on 5.23 million shares.
Clive Johnson's B2Gold Corp. (BTO), up seven cents to $3.64 on 8.21 million shares, has a maiden resource estimate for the Anaconda area of its Fekola project in southwestern Mali. The Anaconda area hosts an inferred resource of 21.59 million tonnes at 1.11 grams of gold per tonne, a total of 767,000 ounces. The resource comes primarily from the flat or slightly dipping Anaconda and Adder zones. The mineralization is hosted within saprolite, a soft, weathered, largely decomposed rock. (Saprolite translates from the Greek to "rotten rock.") The Anaconda and Adder saprolite runs for over 4,500 metres along strike and is up to 500 metres wide in places, with an average thickness of about 13.5 metres.
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