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by Stockwatch Business Reporter
New York spot gold fell 70 cents to $1,933.50 on Thursday. The TSX Venture Exchange lost 0.28 point to 611.64 while the TSX gold index lost 0.90 point to 271.16. Most Canadian gold miners hung close to their Wednesday close, but a few ventured farther afield. Kinross Gold Corp. (K) led the advancers, as it added 22 cents to $6.32 on 5.36 million shares. It had news late yesterday -- a $151-million (U.S.) profit in its second quarter and the declaration of a quarterly dividend of three U.S. cents.
George Paspalas's Mag Silver Corp. (MAG) has drilled a five-metre interval averaging 1.1 grams of gold and 150 grams of silver per tonne plus 0.79 per cent copper and over 4 per cent each of lead and zinc. The deep but high-grade hit occurred within a 23.55-metre mineralized interval with lesser grades in one of the final three holes on the company's Deer Trail property, a carbonate replacement deposit (CRD) target in central Utah.
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