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by Stockwatch Business Reporter
New York spot gold fell $4.00 to $1,275.60 on Monday. The TSX Venture Exchange lost 1.56 points to 787.44 while the TSX Gold Index dropped 2.90 points to 188.41. Alacer Gold Corp. (ASR) led Canadian gold miners lower to start the week, dropping seven cents to $2.02 on 689,000 shares. Klondex Mines Ltd. (KDX) bucked the trend, rallying four cents to $3.05 on 473,000 shares.
John Robins and Michael Allen's Northern Empire Resources Corp. (NM), up three cents to 94 cents on 100,000 shares, has received assays of up to 14.59 grams of gold per tonne over 10 metres from one of seven new holes drilled at its Sterling gold project in Nevada. Two high-grade zones enhanced the average grade: A four-metre subinterval averaged 18.05 grams per tonne and a 2.56-metre zone yielded 21.47 grams per tonne. Five of the seven holes produced gold hits; another deviated from the intended target and the other found nothing. There were a few other higher-grade hits, including 8.66 grams per tonne across 9.05 metres and 8.25 grams per tonne over 7.59 metres.
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