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by Stockwatch Business Reporter
New York spot gold fell $15.20 to $1,403.20 on Thursday. The TSX Venture Exchange dipped 5.45 points to 580.40 while the TSX Gold Index fell 2.13 points to 224.37. Most Canadian gold miners strayed little from Wednesday's close. One exception was Guyana Goldfields Inc. (GUY), which rose 15 cents to $1.16 on 3.22 million shares. The company produced over 37,000 ounces of gold in the second quarter and its cost reduction plan appears to be going well.
Phillip Walford's Marathon Gold Corp. (MOZ) is growing its Leprechaun. Marathon added one cent to $1.16 on 417,000 shares today on new assays from its Valentine Lake gold project in Newfoundland. The assays, from a series of infill holes along the Main zone corridor at Leprechaun, ranged as high as 4.24 grams of gold per tonne over a true thickness of 59.2 metres. Other noteworthy hits included 3.59 grams per tonne over a true width of 24.8 metres and 6.94 grams per tonne over 19.2 metres.
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