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by Stockwatch Business Reporter
New York spot gold rose $8.60 to $1,560.60 on Friday. The TSX Venture Exchange followed bullion, adding 4.68 points to 582.35, as did the TSX Gold Index, which rose 4.68 points to 254.66. Kirkland Lake Gold Ltd. (KL) jumped $2.01 to $58.33 on 1.15 million shares, so its takeover target, Detour Gold Corp. (DGC) followed suit, adding 93 cents to $25.68 on two million shares. Detour's shareholders will vote late this month on Kirkland's offer of 0.4343 share for each Detour share.
John Burzynski's Osisko Mining Inc. (OSK) closed unchanged at $3.81 on 2.27 million shares on word that it has drilled a two-metre zone averaging 266 grams of gold per tonne at its Windfall Lake project in the Urban district of northwestern Quebec. Nearly all the gold in that bonanza-grade hit, which was drilled into the Triple 8 zone, came from a one-metre interval that averaged 531 grams of gold per tonne. The latest assays are from 44 drill holes and 19 wedges, tests that produced 116 gold intercepts, several of them containing bonanza grades of gold over narrow intervals, although one did deliver 106 grams per tonne over four metres from the Triple Lynx zone.
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