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Gold Summary for May 11, 2022

2022-05-11 19:08 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $15.10 Wednesday, ending the day at $1,853.10. The TSX-V surrendered another 10.29 points to 700.90 today while the TSX gold index dipped 1.78 points to 305.30. A few Canadian gold miners moved upward today. Victoria Gold Corp. (VGCX) added 36 cents to $13.66 on 407,000 shares but Kinross Gold Corp. (K) was a laggard, dipping 30 cents to $5.60 on 10.64 million shares.

Ewan Downie's I-80 Gold Corp. (IAU) rose five cents to $3.10 on 1.2 million shares. The company said late Tuesday that it has drilled a 78.6-metre interval averaging 7.1 grams of gold per tonne in the Ruby Deeps area of its Ruby Hill project in Nevada. The long encounter had a higher-grade stretch, with 41.8 metres averaging 10.1 grams of gold per tonne. That was the headline hit, but three other holes also delivered noteworthy results. A second hole returned seven grams per tonne over 71.6 metres, aided by a 15.8-metre stretch that assayed nine grams per tonne.

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