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Gold Summary for Aug. 22, 2024

2024-08-22 22:05 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $26.80 Thursday, closing at $2,484.70. The TSX Venture Exchange fell 6.56 points to 571.27 while the TSX gold index dropped 7.61 points to 367.86. Most gold miners moved lower on Canadian exchanges today. Equinox Gold Corp. (EQX) lost 23 cents to $7.88 on 2.07 million shares today, while Calibre Mining Corp. (CXB) dropped fell eight cents to $2.31 on 6.01 million shares.

Frederick Earnest's Vista Gold Corp. (VGZ) closed unchanged at 85 cents on 23,000 shares on word of new assays from Mount Todd, its gold project in Northern Territory, Australia. The headline hit, among the results from the 11-hole, phase I program, returned 1.17 grams of gold per tonne over a true width of 46 metres. All the other holes also returned gold intersections, just with lesser grades.

Oh, there were a few longer intercepts, including one that ran 0.76 gram per tonne over 58.8 metres -- a hit buoyed by a 14.6-metre portion that averaged 1.51 grams per tonne. Another hole managed 0.63 gram per tonne across a true width of 50.5 metres. Just a few other intervals graded above one gram per tonne, and all were across comparatively short intervals. One yielded one gram per tonne over 16.1 metres and another delivered 1.13 grams per tonne over 9.9 metres.

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