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by Stockwatch Business Reporter

New York spot gold fell $8.80 to $1,935.20 on Wednesday. The TSX Venture Exchange lost 10.76 points to 611.92 while the TSX gold index lost 6.99 points to 272.06. Most Canadian gold miners had a tough day today but one that did not was Centerra Gold Inc. (CG). It rose six cents to $7.96 on 1.02 million shares.

Shawn Wallace's Torq Resources Inc. (TORQ) fell four cents to 51 cents on 86,000 shares on word it has drilled a 557-metre interval averaging 0.38 gram of gold per tonne and 0.23 per cent copper at Cerro del Medio on its Santa Cecilia project in northern Chile. This was one of two new holes -- the other mustered 0.23 gram of gold and 0.22 per cent copper over 476 metres.

Mr. Wallace, chairman and chief executive officer, was "extremely pleased" with the results as the holes hit "higher-grade mineralization than what was drilled historically." He is referring to drilling 11 years earlier, which managed just 0.21 gram of gold and 0.27 per cent copper over 926 metres and an 869-metre hit that returned 0.09 gram of gold and 0.2 per cent copper.

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