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by Stockwatch Business Reporter

New York spot gold retreated $21.20 to $1,833.70 on Thursday and the TSX-V followed along, dropping 1.94 points today to 571.12. The TSX gold index fell early, having perhaps spooked itself after touching the 300 mark yesterday, but it recovered to end the day down just 0.38 point to 298.63, about 80 points higher than two months ago. And the Canadian gold miners that contribute to the index? Well, Argonaut Gold Inc. (OGC) was among the big losers today, falling six cents to 56 cents on 7.48 million shares, while Novagold Resources Inc. (NG) rose 30 cents to $9.15 on 246,000 shares.

Brad Rourke's Scottie Resources Corp. (SCOT) closed unchanged at 26 cents on 1.59 million shares on word of a bonanza-grade hit at its Scottie Gold Mine project, just north of Stewart in northwestern British Columbia. The 2.4-metre encounter at the Blueberry contact zone averaged 194 grams of gold and 16.8 grams of silver per tonne in one of three widely spaced intervals in the hole. Scottie also rolled out assays from two other holes, but they were unspectacular, with 5.84 grams of gold and seven grams of silver per tonne over two metres being the best of the rest.

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