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by Stockwatch Business Reporter
New York spot gold fell $3.10 to $1,262.80 on Wednesday. The TSX Venture Exchange lost 0.28 point to 783.66 while the TSX Gold Index dropped 1.40 points to 184.37. Most Canadian gold miners moved little today. Agnico Eagle Mines Ltd. (AEM) did drop 88 cents to $53.01 on 1.23 million shares and Endeavour Mining Corp. (EDV) managed a 31-cent gain to $22.71 on 388,000 shares.
John Byrne and Peter Akerley's Erdene Resource Development Corp. (ERD), down two cents to 53 cents on 653,000 shares, has received assays of up to 4.2 grams of gold per tonne across 61 metres at the Striker zone on its Bayan Khundii project in southwestern Mongolia. The assays, from the latest 10 holes that Erdene drilled last month, also revealed a 23-metre interval averaging 6.7 grams per tonne in the area between the Striker and Midfield zones. A stepout hole 250 metres west of Striker produced the best grade yet, 9.2 grams per tonne across 15 metres, and a hit 225 metres north of Midfield produced 1.5 grams per tonne across 93 metres.
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