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by Stockwatch Business Reporter

New York spot gold slipped $1.10 to $1,929.80 on Wednesday. The TSX Venture Exchange fell 4.33 point to 577.39 while the TSX gold index gained 4.13 points to 277.25. Most Canadian gold miners moved northward today, and some did so with vigour. Novagold Resources Inc. (NG), which added 38 cents to $5.90 on 315,000 shares, and Torex Gold Resources Inc. (TXG), which added 48 cents to $14.96 on 501,000 shares, were among the more energetic gainers despite a continued silence.

The few lonely golds making a southward journey included West Red Lake Gold Mines Ltd. (WRLG). It slid seven cents to 61 cents on 4.07 million shares. West Red revealed new high-grade assays from Rowan, a property near its Madsen mine at Red Lake in Northwestern Ontario, early yesterday. Today's decline is a continuation of yesterday's three-cent drop to 68 cents on 2.9 million shares.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) lost two cents to $5.89 on 181,000 shares on word of new assays from its Queensway project in north-central Newfoundland. Today's headline hit was an 8.3-metre intersection in the 421 zone that averaged 17.83 grams of gold per tonne. Five of the 31 new holes tested the 421 zone, which crosscuts the southern end of the rich Keats Main zone. One of the 421 holes did not hit gold and the others managed just modest grades over two-to-three-metre intervals.

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