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by Stockwatch Business Reporter

New York spot gold rose 30 cents Wednesday, closing at $2,656.70. The TSX Venture Exchange slipped 5.7 points to 591.41 while the TSX gold index rose 1.3 points to 382.87. Avino Silver & Gold Mines Ltd. (ASM) was strong, as it added four cents to $1.59 on 544,000 shares, while Capstone Copper Corp. (CS) lost 23 cents to $10.26 on 6.61 million shares.

Rauno Perttu's Provenance Gold Corp. (PAU) rose one-half cent to 11.5 cents on 3.84 million shares on word its first core hole at Eldorado in eastern Oregon is doing well. The test has just passed the 207-metre mark "in highly altered and mineralized granodiorite ..." the company geologized, although most investors' ears perked up with the conclusion of the statement "... with visible gold located at multiple horizons."

The hole, the company says, was designed to test the downdip extent of mineralization encountered in a shallower reverse circulation hole drilled last year. That test averaged 3.09 grams of gold per tonne across its entire 114-metre run, and it had terminated while still within strong mineralization. Flushed with that initial success, Provenance drilled another hole nearby last year. It returned 3.28 grams of gold per tonne from a 118.9-metre surface-based interval. Other tests in the area last year also returned surface-based hits, although with lesser grades over comparable intervals.

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