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by Stockwatch Business Reporter

New York spot gold fell $20.20 on Thursday, closing at $2,304.30. The TSX Venture Exchange dropped 8.05 points to 575.20 while the TSX gold index lost 7.48 points to 307.60. Most Canadian gold miners followed bullion lower today. Silvercrest Metals Inc. (SIL) dropped 32 cents to $10.90 on 392,000 shares while First Quantum Minerals Ltd. (FM) lost 59 cents to $16.21 on 2.4 million shares. Altius Minerals Corp. (ALS) was among those few moving northbound, as it added 38 cents to $21.81 on 181,000 shares.

Keith Neumeyer's First Majestic Silver Corp. (AG) lost 12 cents to $8.38 on 722,000 shares on word it has drilled a 7.88-metre interval grading 10.87 grams of gold and 1,034 grams of silver per tonne in the Perez vein at its San Dimas mine in Durango, Mexico. The hit was from a drill program designed to test new precious metals targets, and to increase and upgrade the existing resource estimate. The best grades came from a hole into the Sinaloa-Elia vein, which produced 39.25 grams of gold and 1,905 grams of silver per tonne across 1.76 metres. The Santa Regina and Santa Teresa veins also managed noteworthy assays.

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