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by Stockwatch Business Reporter

New York spot gold rose $14.40 to $1,925.20 on Friday. The TSX Venture Exchange fell 0.48 point to 614.74 while the TSX gold index rose 1.60 points to 272.39. Most Canadian gold miners moved higher today. Victoria Gold Corp. (VGCX) added 21 cents to $8.20 on 336,000 shares and Torex Gold Resources Inc. (TXG) added 85 cents to $18.83 on 378,000 shares. China Gold International Resources Corp. (CGG), on the other hand, fell 18 cents to $4.81 on 86,000 shares.

Dr. Rui Feng and Andrew Williams's New Pacific Metals Corp. (NUAG) rose 15 cents to $2.95 on 42,000 shares. The company has drilled a 183-metre interval averaging 92 grams of silver per tonne, plus modest amounts of base metals, at its Carangas silver and gold project in Bolivia. The hit was among the 18-hole final batch of results from a 39-hole drill program.

The headline hit was a 50-metre stepout from an earlier test that delivered 123 grams of silver per tonne over 205.6 metres in an area without any surface showings, allowing Mr. Williams, president, and Dr. Feng, chief executive officer, to extol the virtues of the new area as "a new target for expansion drilling." Several other holes also delivered encouraging silver grades, including one that showed "broad silver mineralization stacked above broad gold mineralization." The highlight of the lower gold zone was a 7.5-metre interval averaging 11.21 grams of gold per tonne.

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