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by Stockwatch Business Reporter

New York spot gold rose $22.60 to $1,899.10 on Thursday. The TSX-V added 7.49 points to 609.88 while the TSX gold index gained 4.09 points to 306.77. Most Canadian gold miners moved upward today, Karora Resources Inc. (KRR) being an exception with a six-cent drop to $5.55 on 792,000 shares.

Victoria Gold Corp. (VGCX) helped lead the advance with a 19-cent gain to $9.13 on 1.25 million shares. Victoria said today that it has drilled a 6.5-metre interval averaging 24.69 grams of gold per tonne from the Lynx target at Dublin Gulch in Yukon. Most of the gold sat within a 2.5-metre interval averaging 63.32 grams per tonne, and without that rich stretch, the other four metres managed just 0.55 gram per tonne.

A second hole produced 2.46 grams of gold per tonne over 27.2 metres. That longer hit was bolstered by a 0.5-metre interval yielding 83.9 grams per tonne, leaving the remaining 26.7 metres with 0.94 gram per tonne. The grade smearing notwithstanding, Paul Gray, vice-president of technical services, deemed Victoria's exploration last year as having "demonstrated consistent gold mineralization across a large target area" -- presumably referring to the big-picture pattern, with rich veins within low-grade surrounding rock, not consistency of grade over the intervals.

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