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by Stockwatch Business Reporter
New York spot gold gained $1.60 to $1,189.10 on Tuesday. The TSX Venture Exchange fell 2.73 points to 702.96 while the TSX Gold Index dipped 2.46 points to 154.68. Canadian gold miners were lower today, although Tahoe Resources Inc. (THO), up six cents to $3.70 on 1.20 million shares, was among the few bucking the trend. Agnico Eagle Mines Ltd. (AEM) led the decline, dropping $1.85 to $43.60 on 1.61 million shares.
Dan Stuart's Juggernaut Exploration Ltd. (JUGR) underwhelmed the market today, slumping 15.5 cents to 15.5 cents on 5.43 million shares. The company has received assays from its Midas property, east of Prince Rupert in northwestern British Columbia. The assays are from five holes of a 16-hole, 1,977-metre drill program targeting the King Solomon trend along a strike length of over 800 metres. One hole, just partially assayed, returned 0.21 gram of gold and 1.77 grams of silver per tonne over 35.35 metres, accompanied by 0.08 per cent copper, 0.32 per cent zinc and 0.015 per cent lead. (The gold-equivalent grade was an uninspiring 0.56 gram per tonne.) The other holes also encountered mineralization, with better grades but over narrow intervals, including 2.24 grams of gold and 6.83 grams of silver per tonne over 4.8 metres, accompanied by 0.18 per cent copper and 1.04 per cent zinc.
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