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by Stockwatch Business Reporter

New York spot gold lost $121.80 to $3,997.30 on Monday. The TSX Venture Exchange lost 24.70 points to 881.28, while the TSX gold index dropped 19.12 points to 737.42. Americas Gold and Silver Corp. (USA) helped lead the southbound trek, as it fell 35 cents to $5.71 on 1.97 million shares. Avino Silver & Gold Mines Ltd. (ASM) kept it company, dropping 40 cents to $8.14 on 1.22 million shares.

Corwin Coe's Sitka Gold Corp. (SIG) lost one cent to $1.02 on 1.22 million shares on new assays from eight new holes drilled at its RC project in Yukon. The work continues to intercept broad intervals of high-grade gold mineralization in stepout drilling at the Blackjack deposit, the company cheers, as a 348-metre zone graded 1.12 grams of gold per tonne, with a 45-metre subinterval at the base of the zone running 3.49 grams per tonne.

Assays from the seven other holes continue to expand the Rhosgobel deposit, Sitka says, perhaps omitting the qualifiers broad and high-grade for reasons other than brevity. The top intercept in the latest Rhosgobel holes returned 0.91 gram of gold per tonne across 74.8 metres, while a second yielded 1.08 grams per tonne over 28.1 metres. The other four Rhosgobel holes also hit gold -- just not enough to warrant an extra dose of black ink in the news.

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