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by Stockwatch Business Reporter

New York spot gold rose $16.50 to $2,021.80 on Thursday. The TSX Venture Exchange lost 2.80 points to 551.18 while the TSX gold index lost 0.12 point to 259.15. Most Canadian gold miners grazed peacefully in the pasture today, but there were a few stragglers mooing in the distance. West Red Lake Gold Mines Ltd. (WRLG) added four cents to 72 cents on 221,000 shares while Iamgold Corp. (IMG) dropped 16 cents to $3.16 on 9.47 million shares.

Simon Dyakowski's Aztec Minerals Corp. (AZT) rose one cent to 19.5 cents on 535,000 shares on word it has drilled a 30.4-metre interval grading 1.03 grams of gold per tonne in the California zone at its Cervantes project in Sonora, Mexico. These are the results from the first three of 13 holes drilled into the zone, work that is extending the California intrusive porphyry complex to the west and north, and at depth.

Much of the gold in the headline hole, which had been drilled the farthest to the northwest, sat in a 1.52-metre stretch that graded 13.8 grams per tonne. That left the other 28.9 metres with just 0.36 gram of gold per tonne. That remnant grade looks all the world like the results from the two other holes. One averaged 0.338 gram per tonne across 13.68 metres, and the other yielded 0.274 gram of gold per tonne over 7.6 metres.

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