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by Stockwatch Business Reporter

Bullion got back on its horse today, as New York spot gold regained $280.70, taking an afternoon respite at $4,939.40. The TSX Venture Exchange did well, adding 22.05 points to end Tuesday at 1,052.72, while the TSX gold index surged 34.42 points to 934.28. Silver X Mining Corp. (AGX) was buoyant, adding eight cents to $1.20 on 4.29 million shares, as was Americas Gold and Silver Corp. (USA), which gained 83 cents to $10.41 on 2.47 million shares.

Frank Callaghan's Golden Cariboo Resources Ltd. (GCC) closed unchanged at five cents on 522,000 shares on word that it has drilled a 190.92-metre interval from near surface at its Quesnelle project in central British Columbia, which graded 0.26 gram of gold and 1.99 grams of silver per tonne. The upper 47 metres of that zone held a brighter 0.42 gram of gold and 1.75 grams of silver per tonne, with much of the metal in a 10.17-metre stratum that ran 1.03 grams of gold and 2.06 grams of silver per tonne. A deeper interval within the midsection of the broad zone also graded better, with one gram of gold and 21.9 grams of silver per tonne over 7.19 metres.

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