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by Stockwatch Business Reporter
New York spot gold rose $16.70 to $1,962.50 on Tuesday. The TSX Venture Exchange rose 5.84 points to 516.95 while the TSX gold index leapt 9.59 points to 266.78. Most Canadian gold miners had a good day. McEwen Mining Inc. (MUX) jumped $1.12 to $10.18 on 85,000 shares and Victoria Gold Corp. (VGCX) added 50 cents to $6.05 on 530,000 shares. Neither had news this week. Unfortunately, First Quantum Minerals Ltd. (FM), bitten by opposition to its Cobre Panama mine, staggered 17 cents lower to $15.48 on 4.65 million shares.
Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) rose 20 cents to $4.95 on 399,000 shares on a new batch of assays from its Queensway project in north-central Newfoundland. The headline hit today came from the Jackpot zone at the northernmost end of the property, on the eastern side of the Appleton fault. A 6.75-metre interval graded 18.23 grams of gold per tonne, although like all the Queensway hits, most of the gold sat within a 1.55-metre high-grade interval running 73.76 grams per tonne. That left the other 5.2 metres with a pedestrian 1.68 grams per tonne.
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