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by Stockwatch Business Reporter

Easy come, easy go. Way, way, easier, it appears. New York spot gold, which again threatened the $4,400 mark on Monday, posting a $103 gain, dropped $235.50 on Tuesday -- about its entire value in 2002 -- pausing for afternoon air at $4,119.60. The TSX Venture Exchange shed 32.31 points to 951.05, while the TSX gold index slid -- yikes! -- 75.49 points to 701.67. It was quite a bloodbath today. McEwen Inc. (MUX) crashed $3.92 to $27.71 on 350,000 shares and Lundin Gold Inc. plummeted $17 to $98.15 on 3.7 million shares. Worst of all was Avino Silver & Gold Mines Ltd. (ASM), which fell $1.46 to $7.23 on 2.06 million shares.

Tara Christie's Banyan Gold Corp. (BYN) fell seven cents to 72 cents on 2.79 million shares on new assays from its AurMac gold project in central Yukon. The assays are from another seven holes drilled at the Powerline deposit, one of two mineralized zones at AurMac. The headline hit saw Banyan drill a 72.5-metre near-surface intercept that averaged 0.65 gram of gold per tonne, aided by an 11.8-metre section that graded 2.69 grams per tonne. (The other 60.8 metres would therefore have managed just 0.25 gram per tonne. Further, if one also removes a 1.7-metre portion grading 4.2 grams per tonne at the top of the full zone, the remnant grade sinks to just 0.14 gram per tonne over 59.1 metres.)

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