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by Stockwatch Business Reporter

New York spot gold fell $5.20 to $1,922.30 on Monday. The TSX-V lost 4.42 points to 617.59 while the TSX gold index dipped 2.60 points to 304.23. Most Canadian gold miners lost ground again today. Karora Resources Inc. (KRR) lost 19 cents to $5.09 on 2.08 million shares while Lundin Gold Inc. (LUG) was northbound, adding 10 cents to $15.26 on 1.19 million shares.

Joseph Hebert's Outcrop Silver & Gold Corp. (OCG) fell two cents to 29.5 cents on 561,000 shares Friday on word it had drilled a 1.71-metre true width interval averaging 777 grams of silver equivalent per tonne at its Santa Ana project in Colombia. Today it managed an early 2.5-cent gain but closed unchanged at 29.5 cents on 917,000 shares with news of what Guillermo Hernandez, Outcrop's vice-president of exploration, heralded as "an outstanding assay."

In this latest hole, Outcrop hit a 3.05-metre true-width interval averaging 16.08 grams of gold and 2,719 grams of silver per tonne, plus just over one per cent each of lead and zinc. This new hit, which averaged nearly 4,000 grams of silver equivalent per tonne, came from the Las Abejas shoot on the El Dorado vein system at Santa Ana. Mr. Hernandez enthused that "drilling the exciting Las Abejas shoot at depth confirms an important exploration vector that indicates a general 'top of ore' below 750 [metres] absolute elevation."

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