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by Stockwatch Business Reporter

New York spot gold rose $23.70 to $2,916.70 on Tuesday. The TSX Venture Exchange lost 1.17 points to 594.07 while the TSX gold index added 3.81 points to 403.51. Most Canadian listed precious metals miners gained ground today. Serabi Gold PLC (SBI) led the way, adding 38 cents to $3.13 on 213,000 shares despite a continued silence. Among those southbound were New Found Gold Corp. (NFG), which lost 11 cents to $2.39 on 1.31 million shares, and Allied Gold Corp. (AAUC), which dropped 17 cents to $4.54 on 1.07 million shares.

Scott Berdahl's Snowline Gold Corp. (SGD) jumped 27 cents to $6.64 on 533,000 shares on word of a long, higher-grade drill hit in the Valley zone of its Rogue project in east-central Yukon. The headline intercept averaged 1.68 grams of gold per tonne across 617.8 surface-based metres, with the upper 202 metres running a hefty 3.24 grams per tonne. A second hole was also noteworthy, with a 200.9-metre interval starting near surface that averaged 1.88 grams per tonne. The upper 104.5 metres of that interval returned 2.9 grams of gold per tonne. The two other new holes delivered grades of just over one gram per tonne across 352 and 243 metres respectively.

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