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Gold Summary for March 29, 2023

2023-03-29 18:56 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $10.30 to $1,963.50 on Wednesday. The TSX Venture Exchange rose 3.02 points to 623.61 while the TSX gold index fell 2.65 points, closing at 306.45. Canadian gold miners traded busily today, with Kinross Gold Corp. (K) busier than most as it rose 13 cents to $6.39 on 15.46 million shares. Ero Copper Corp. (ERO) had a good day, adding 76 cents to $24.40 on 1.17 million shares. Kinross has been quiet for the past few weeks, but Ero said late yesterday that it has boosted its reserve at the Xavantina mine.

Speaking of increased resources, Jim Engdahl's MAS Gold Corp. (MAS) rose one-half cent to 3.5 cents on 186,000 shares on word of a maiden calculation for the Preview Adit deposit, just north of its Preview SW deposit in the La Ronge area of northeastern Saskatchewan.

The calculation, which follows a three-hole drill program last year and work several years earlier by previous explorers, lists 339,000 tonnes inferred at 2.66 grams of gold per tonne, about 29,000 ounces. These new ounces augment the Preview SW deposit, which lists 5.46 million tonnes indicated at 1.56 grams of gold per tonne and 5.85 million tonnes inferred at 1.4 grams per tonne -- a total of nearly 540,000 ounces of gold.

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