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Gold Summary for Oct. 15, 2020

2020-10-15 18:55 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold added $7.30 to $1,908.50 on Thursday. The TSX-V fell 6.26 points to 727.38, while the TSX gold index dipped 2.73 points to 369.86. Orosur Mining Inc. (OMI), a three-center through much of the spring, is now a market darling thanks to word at the end of September that Newmont Corp. (NGT: $83.29) added Agnico Eagle Mines Ltd. (AEM: $109.58) as a co-venturer on Orosur's Anza project in Colombia. Orosur will end up with just a 25-per-cent sliver of the project, but its well-heeled partners are footing the bills. Orosur dashed to another new high of 60 cents today, ending the day up 11 cents to 53 cents on 1.79 million shares.

Quentin Yarie's Red Pine Exploration Inc. (RPX) closed unchanged at four cents on 2.82 million shares on word that it has drilled a 13.3-metre true-width interval averaging 3.38 grams of gold per tonne at Surluga, on its Wawa project in Northern Ontario. That hit was bolstered by a 1.64-metre stretch that averaged 15.31 grams of gold per tonne. The assays, from the last four holes of a now complete 2020 drill program, produced 2.06 grams per tonne across 11.89 metres in a second hole and 1.63 grams per tonne over 23.34 metres in a third.

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