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by Stockwatch Business Reporter
New York spot gold fell $9.70 to $1,265.90 on Tuesday. The TSX Venture Exchange lost 3.50 points to 783.94 while the TSX Gold Index dropped 2.64 points to 185.77. Premier Gold Mines Ltd. (PG) led Canadian gold miners lower today, dropping 18 cents to $3.37 on 734,000 shares. New Gold Inc. (NGD) bucked the trend, gaining one cent to $3.92 on 1.12 million shares.
Fahad Al Tamimi and Claudio Ciavarella's Kerr Mines Inc. (KER), down one-half cent to 30 cents on 545,000 shares, has received assays of up to 39.1 grams of gold per tonne across 8.69 metres at its Copperstone gold project in western Arizona. This hit, from a second batch of assays from the company's 16-hole, phase 1 program, adds to the high-grade hit that the company rushed to the market a month ago. That incomplete hit averaged 16.2 grams of gold per tonne across 9.8 metres. Following the latest assays, the full high-grade zone now averages 23.1 grams per tonne across 21.6 metres. The latest assays, from five holes, include another high-grade hit over a significant width, averaging 13.9 grams per tonne across 26.8 metres.
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