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by Stockwatch Business Reporter
New York spot gold rose $15.80 to $1,340.80 on Monday. The TSX Venture Exchange dropped 13.04 points to 783.63 while the TSX Gold Index rose 2.96 points to 189.54. Most Canadian gold miners posted gains today. Detour Gold Corp. (DGC) added 51 cents to $13.55 on 1.41 million shares. Alio Gold Inc. (ALO) was among the weaklings. It dropped four cents to $2.47 on 432,000 shares.
Ian Stalker and Stuart Angus's K92 Mining Inc. (KNT), down one cent to 64 cents on 472,000 shares, has received assays of up to 53.39 grams of gold and three grams of silver per tonne over 2.85 metres from drilling at the Kora North Extension zone at its Kainantu project in the Eastern Highlands district of Papua New Guinea. The assays are from the first hole targeting an area immediately up and down dip from the company's recently declared resource estimate. John Lewins, chief executive officer, says that the results from this first hole are "extremely significant" in confirming the continuity of both the K1 and K2 lodes up dip from the grade control drilling.
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