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by Stockwatch Business Reporter

New York spot gold reclaimed $22.10 Thursday, closing at $2,629.80. The TSX Venture Exchange rose 4.97 points to 595.81 while the TSX gold index added 10.25 points to 374.65. K92 Mining Inc. (KNT) had a good day, adding $1.30 to $9.15 on 6.38 million shares on the heels of its third quarter report. The company had a record quarter, with over 44,300 equivalent ounces of gold production. Torex Gold Resources Inc. (TXG) also did well, adding $2.37 to $29.03 on 683,000 shares.

Scott Berdahl's Snowline Gold Corp. (SGD) rose seven cents to $5.39 on 179,000 shares on another eyebrow-raising hit at its Valley deposit, on the Rogue project in the mountains of east-central Yukon. One of two new holes yielded a 273-metre surface-based hit that averaged 1.31 grams per tonne, with the upper 121 metres grading 2.18 grams of gold per tonne.

That alone would be encouraging, but the other hole was considerably better, averaging 2.1 grams of gold per tonne across 433.5 metres, starting just below surface. Two higher-grade intervals within the zone padded the grade -- think of a Big Mac, not a Quarter Pounder-- with the upper layer of meat averaging 3.2 grams of gold per tonne across 50.5 metres and the lower zone holding an even meatier 3.42 grams per tonne across 96.5 metres.

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