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Gold Summary for Jan. 27, 2022

2022-01-27 18:21 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slid $23.50 to $1,795.90 on Thursday. The TSX-V lost 15.88 points to 830.41 while the TSX gold index slipped 5.16 points to 275.32. New Gold Inc. (NGD) helped lead the retreat among Canadian gold miners today; it fell 11 cents to $1.95 on 3.63 million shares. Going the other way was Centerra Gold Inc. (CG), which added 18 cents to $10.15 on 859,000 shares.

One Canadian gold miner with news today was Iamgold Corp. (IMG). It lost two cents to $3.11 on 3.52 million shares on word that it has drilled a 355.5-metre interval averaging 0.78 gram of gold per tonne in the Gosselin zone, a recent discovery at its Cote project in Northern Ontario. The long hit included a 96.6-metre interval that returned 1.5 grams per tonne. The hit was one of several long encounters of lower-grade gold in the delineation drilling program.

Alexander Stares's Metals Creek Resources Corp. (MEK) lost two cents to 17 cents on 390,000 shares. The company has drilled a 4.47-metre interval averaging 9.2 grams of gold per tonne in the Thomas Ogden zone at its Ogden project, an equally shared joint venture with Newmont Corp. (NGT: $77.28), near Timmins in Northern Ontario. A two-metre interval that averaged 15.71 grams per tonne buoyed the grade -- the other 2.47 metres averaged about 3.9 grams per tonne.

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