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Gold Summary for June 14, 2022

2022-06-14 19:39 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $11.80 Tuesday, ending the day at $1,806.90. The TSX-V lost another 21.83 points to 650.07 while the TSX gold fell 6.58 points to 282.38. Most Canadian gold miners moved lower today. Lundin Gold Inc. fell 44 cents to $10.34 on 319,000 shares, while Kinross Gold Corp. (K) fell 21 cents to $5.26 on 8.8 million shares. Hard-pressed McEwen Mining Inc. (MUX) closed unchanged at 66 cents on 140,000 shares.

Cynthia Le Sueur-Aquin's Laurion Mineral Exploration Inc. (LME) fell to 80 cents early but rallied late to close up two cents at 90 cents on 185,000 shares. The moves follow word that Laurion has drilled a 22.26-metre true width interval averaging 0.43 gram of gold and 3.86 grams of silver per tonne plus 0.49 per cent zinc at its Ishkoday project, 220 kilometres northeast of Thunder Bay in Northern Ontario.

There were a few other holes with significant widths but their grades were lower, with a 15-metre zone returning 0.22 gram of gold and 1.02 grams of silver per tonne plus 0.04 per cent zinc. Ms. Le Sueur-Aquin, president and chief executive officer, and her Laurion crew say that the company is "focused on validating the existence of near-surface bulk mineralization" with a gold-silver and gold-zinc polymetallic component across a six-kilometre-long strike and within a one-kilometre-wide corridor.

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