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by Stockwatch Business Reporter

New York spot gold rose $33.10 Wednesday, catching a quick snooze at $3,347.10 at its afternoon nap. The TSX Venture Exchange lost another 6.19 points to 767.61 today but the TSX gold index reclaimed 15.07 points to 570.77. Lundin Gold Inc. (LUG) had a good day, adding $1.80 to $77.83 on 858,000 shares. McEwen Inc. (MUX) also did well, adding $1.065 to $14.77 on 155,000 shares.

Corwin Coe's Sitka Gold Corp. (SIG) closed unchanged at 69 cents on 541,000 shares. The company has eyeballed more gold grains in drill core at its RC gold project in Yukon. Sitka has encountered visible gold in drilling at every target it has tested this year -- Blackjack, Saddle, Eiger and Rhosgobel -- and now it is applauding multiple sightings in each of the first six holes it has now drilled in the Contact-Pukelman zone.

About 5,000 metres of drilling are planned at Contact-Pukelman, the tail end of the company's 30,000-metre program that focused on expanding the Blackjack and Eiger deposits, expanding the mineralized footprint of the Saddle zone and testing the potential of the Rhosgobel, Contact-Pukelman and Bear Paw targets. (In other words, Sitka has resource estimates for Blackjack and Eiger and is looking forward to having one at Saddle as well. The other zones are at an earlier stage, but with assays pending for 52 holes, they could advance quickly.)

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