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by Stockwatch Business Reporter

New York spot gold rose $8.50 to $1,945.90 on Wednesday. The TSX-V lost 0.41 point to 622.62 while the TSX gold rose 6.20 points to 316.43. Most Canadian gold miners moved higher, with Victoria Gold Corp. (VGCX) adding 41 cents to $10.41 on 1.23 million shares and Centerra Gold Corp. (CG) adding 40 cents to $8.70 on 1.46 million shares -- neither advance aided by news.

Anthony Moreau's American Eagle Gold Corp. (AE) rose one cent to 20.5 cents on 3.68 million shares on word it has drilled a 527.7-metre interval averaging 0.11 gram of gold and 1.55 grams of silver per tonne plus 0.32 per cent copper in one of two new holes drilled at its NAK porphyry project in the Babine district, northeast of Smithers in north-central British Columbia. The second hole had a longer hit -- 906 metres -- but with just half the grades.

Mr. Moreau, chief executive officer, applauded the headline hole as the company's best intercept to date, noting that it encountered a new higher-grade copper-rich zone 500 metres from its discovery hole at NAK. Indeed, the hit ended within a wide high-grade zone as it was abandoned for technical, not geological reasons. Not to worry, Mr. Moreau says, as two subsequent holes with assays yet to come successfully tested the zone at depth. Accordingly, he and his crew "anticipate that the pending assays from these two holes will show similar results."

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