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by Stockwatch Business Reporter
New York spot gold leapt $60.40 Tuesday to $3,534.10 as the TSX Venture Exchange added 15.63 points to 845.20. Yes, bullion is at another -- yawn -- record high but more importantly, the TSX gold index leapt 16.05 points to 625.73 as investors have finally decided the gold rally is for real. (The index did not surpass its 2011 high until this spring!) McEwen Inc. (MUX) jumped $3.18 to $18.96 on 951,000 shares on word of high-grade drill hits at its Grey Fox project in Northern Ontario. Capstone Copper Corp. (CS) went the other way, slumping 41 cents to $9.41 on 5.5 million shares. It had news as well: Its Mantoverde mine in Chile is running at reduced capacity because of a motor failure in its ball mill.
Kimberly Ann's Lahontan Gold Corp. (LG), unchanged at 12.5 cents on 7.02 million shares, has drilled thick, shallow gold mineralization at its Santa Fe project, in the Walker Lane district of Nevada. The assays are from seven holes, five testing the Slab area and two at York. The headline hit returned an 89.9-metre intercept at York that averaged 0.23 gram of gold and 0.1 gram of silver per tonne. The other hole at York mustered higher grades -- 0.73 gram of gold and 2.9 grams of silver per tonne -- but across just 18.3 metres and at a greater depth.
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