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Gold Summary for May 15, 2019

2019-05-15 19:28 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $0.20 to $1,296.10 on Wednesday. The TSX Venture Exchange rose 6.75 points to 607.54 while the TSX Gold Index fell 0.66 point to 182.14. Torex Gold Resources Inc. (TXG) was better today, adding 18 cents to $12.71 on 491,000 shares. So was Eldorado Gold Corp. (ELD). It rose 24 cents to $5.11 on 1.81 million shares.

James Henderson and Larry Phillips's Compass Gold Corp. (CVB) lost its way today, slumping 8.5 cents to 28 cents on 1.48 million shares. The slide came on the heels of assays from a 13-hole drill program on the Ouassada portion of the Sikasso project in southern Mali. The holes, which probed the area surrounding the Farabakoura artisanal pits, yielded up to 3.02 grams of gold per tonne over 32 metres, a hit bolstered by a six-metre zone that averaged 10.21 grams per tonne.

That was the only noteworthy intersection, however, as four of the holes failed to encounter gold and five others yielded tiny grades over narrow intervals. Compass zeroed in on four of its holes as being worthy of highlight. Those highlighted assays included 3.1 grams per tonne over 15 metres deeper within the best hole, while a second hole managed 11.95 grams per tonne over one metre and a third yielded 18 metres at 1.03 grams per tonne.

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