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by Stockwatch Business Reporter

New York spot gold rose $3.40 Tuesday, pausing at $4,487.50. The TSX Venture Exchange added 7.92 points to 1,033 while the TSX gold index added 8.08 points to 865.03. Most precious metals wandered aimlessly today. Among the more energetic and purposeful traders were Silvercorp Metals Inc. (SVM), which added 43 cents to $18.25 on 959,000 shares, and Equinox Gold Corp. (EQX), which retreated 54 cents to $16.72 on 11.31 million shares.

And now for the news. Jose Garcia's Silver X Mining Corp. (AGX) lost three cents to 78 cents on 877,000 shares on assays from a new hole testing the Blenda Rubia target on its Nueva Recuperada project in central Peru. The hole produced a 40.71-metre true-width intercept grading 69.53 grams of silver per tonne, plus 0.02 per cent copper, 0.28 per cent zinc and 0.87 per cent lead, a silver equivalent of 98.7 grams per tonne.

The modest grades account for Silver X's slip today, but the company cheers that the assays continue to confirm that Blenda Rubia is evolving into a broader and more scalable polymetallic mineralized system than would be implied by a simple narrow-vein interpretation. Recall that earlier holes produced comparable hits, including one with 80 grams of silver per tonne, along with modest base metal grades, across a 17.86-metre true width.

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