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by Stockwatch Business Reporter
New York spot gold fell $7.10 to $1,286.10 on Thursday. The TSX Venture Exchange fell 1.18 points to 596.93 and the TSX Gold Index slipped 1.67 points to 178.44. New Gold Inc. (NGD) traded briskly again today, but was lower, dropping 11 cents to $1.50 on 6.88 million shares.
John McCluskey's Alamos Gold Inc. (AGI), down 10 cents to $5.04 on 2.08 million shares, has received assays of up to 152.07 grams of gold per tonne over five metres from drilling at the Western Extension zone at its Island mine, about 80 kilometres northeast of Wawa in Northern Ontario. The latest holes from the 2018 program, which included 141,000 metres of drilling across 719 holes, also yielded noteworthy assays from the Main Extension zone, which produced hits of up to 56.6 grams per tonne across 4.81 metres, and from the East Extension zone, where the company drilled 10.65 grams of gold across 2.94 metres.
Mr. McCluskey, president and chief executive officer, calls the Island gold mine a "tremendous success story," both in terms of the mining operation and the mineral reserve and resource base. He cheered the company's exploration effort last year in that regard, lauding the glittering hit in the Western zone as "one of the best directional holes ever." (That intercept occurred 200 metres down plunge from the existing resource.) The latest Island resource estimate lists a reserve of 2.79 million tonnes at 10.69 grams of gold per tonne, plus another 841,000 tonnes measured and indicated at 8.18 grams per tonne and 3.67 million tonnes inferred at 9.99 grams per tonne, for a grand total of nearly 2.4 million ounces.
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The best NR yesterday was published by Vanstar Resources and you didn't put any comment in your GOLD Summary Section - is there a reason why ?