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by Stockwatch Business Reporter

Bullion took a hit on Wednesday, as New York spot gold slid $85.50 to $3,294.30. Stock markets rallied strongly today, and the TSX Venture Exchange reluctantly tagged along, adding 4.63 points to 635.43. The TSX gold index slumped 12.32 points to 473.17. Barrick Gold Corp. (ABX) was among those in retreat, as it fell $1.15 to $26.47 on 6.19 million shares. Endeavour Mining PLC (EDV) kept it company, dropping $1.84 to $38.11 on 1.26 million shares. There were some golds northbound today, but most had a copper kicker: Capstone Copper Corp. (CS) jumped 52 cents to $6.58 on 9.58 million shares.

Garrett Macdonald's Maritime Resources Corp. (MAE) rose one cent to 11.5 cents on 1.82 million shares on word it has drilled a 2.6-metre near-surface interval grading 49.4 grams of gold per tonne at its Hammerdown gold project in the Baie Verte district of Newfoundland. The hit, which featured a 0.6-metre subinterval that ran 153.9 grams per tonne, was among the assays for another 30 grade-control drill holes completed on the project. Several of the other holes returned narrow, near-surface intervals with grades approaching 100 grams per tonne.

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