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by Stockwatch Business Reporter

New York spot gold rose $5.40 on Wednesday, closing at $2,321.60. The TSX Venture Exchange rose 6.09 points to 583.25 while the TSX gold index added 1.90 points to 315.08. Most Canadian gold miners followed bullion higher today. Victoria Gold Corp. (VGCX) was not among them, as it fell 15 cents to $7.70 on 295,000 shares. Oceanagold Corp. (OGC) had a good day, adding 11 cents to $3.20 on 8.26 million shares while Silver X Mining Corp. (AGX) added one-half cent to 29.5 cents on 1.09 million shares.

Walter Berukoff's Lion One Metals Ltd. (LIO) fell two cents to 51 cents on 372,000 shares on word it has drilled a 3.3-metre interval grading 97.46 grams of gold per tonne at Zone 5 on its Tuvatu gold project in Fiji. Much of the gold sat within a 0.3-metre sliver, which ran 550.05 grams per tonne.

That was not the only bonanza-grade subinterval. The company also cheered a hit of 315 grams per tonne over 0.3 metre, while five other 0.3-metre sections yielded grades between 120.8 grams and 167.5 grams per tonne. Just a week ago, Lion One drilled a 1.2-metre interval grading 393 grams of gold per tonne, also at Zone 5, and it was juiced by a 0.3-metre portion that averaged 1,568.55 grams per tonne.

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