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Gold Summary for May 14, 2019

2019-05-14 17:32 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $3.30 to $1,296.30 on Tuesday. The TSX Venture Exchange rose 4.60 points to 600.79 while the TSX Gold Index dipped 0.68 point to 182.80. McEwen Mining Inc. (MUX) led the retreat, dropping nine cents to $1.93 on 464,000 shares.

New assays from the Mikwam project in Northern Ontario attracted new investors to Randy Turner and Mark Ashcroft's Aurelius Minerals Inc. (AUL), but owners of just as many shares were relieved to say goodbye. Aurelius, unchanged at three cents on 1.84 million shares, has received results from the 10 holes that it drilled earlier this year in a phase 3, 3,000-metre program at the project, 160 kilometres northeast of Timmins.

The assays ranged as high as 3.46 grams of gold per tonne over 31.5 metres, an interval bolstered by a 4.1-metre zone that averaged 9.41 grams per tonne and a 3.1-metre interval that ran 9.21 grams per tonne. There were a few other lengthy hits in the program, but with lower grades. A 20.4-metre zone returned 1.93 grams per tonne and a 33.7-metre interval assayed 115 grams per tonne.

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