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by Stockwatch Business Reporter
New York spot gold fell $2.90 to $1,273.60 on Wednesday. The TSX Venture Exchange rose 0.08 point to 610.05 while the TSX Gold Index dipped 1.49 points to 188.83. Agnico Eagle Mines Ltd. (AEM) led Canadian golds lower again today. It lost $1.16 to $54.53 on 1.83 million shares. New Gold Inc. (NGD) did better, rising five cents to $1.18 on 2.31 million shares.
History has repeated itself, but with an improved outcome, for Brad Langille's GoGold Resources Inc. (GGD). GoGold, up one cent to 29 cents on 5.33 million shares, has received assays of up to 1.24 grams of gold and 284.7 grams of silver per tonne over 35.5 metres from the first two holes drilled this year at its Los Ricos project, northwest of Guadalajara, Mexico. That hole twinned one completed 15 years ago, which predictably produced nearly matching results.
Mr. Langille, president and chief executive officer, was more enthused with a second hole that produced 1.56 grams of gold and 159 grams of silver per tonne over 27.6 metres. Its elder twin had yielded just 0.8 gram of gold and 93 grams of silver per tonne over 28 metres, prompting him to crow that the first two holes returned over 40 per cent higher grades than the initial tests.
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