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by Stockwatch Business Reporter

New York spot gold rose $16.70 to $2,055.60 on Thursday. The TSX Venture Exchange rose 10.77 points to 561.13 while the TSX gold added 8.77 points to 270.04. Most Canadian gold miners moved higher today. McEwen Mining Inc. (MUX) was strong on media reports the company is seeking $100-million (U.S.) for an Argentine copper project. It jumped 71 cents to $9.34 on 97,000 shares today. There was nothing new from Iamgold Corp. (IMG) but it added 25 cents to $3.45 on 2.91 million shares today.

Jared Scharf's Desert Gold Ventures Inc. (DAU) rose one cent to 5.5 cents on 748,000 shares on word it has begun a preliminary economic assessment of its Barani East and Gourbassi West gold deposits, on its SMSZ property in western Mali. The study will seek to show that mining the oxide and transitional mineralization could be economically viable.

Desert Gold lists a total resource of 8.47 million tonnes measured and indicated at 1.14 grams per tonne and 20.7 million tonnes inferred at 1.16 grams per tonne, a total of 1.08 million ounces of gold, but the bulk of those ounces -- about 760,000 of them -- lie in the deeper fresh rock. The coming study will consider just 186,000 ounces in the two deposits that are in the oxide and transitional rock at average grades of about 1.35 grams per tonne.

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