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by Stockwatch Business Reporter
New York spot gold rose $5.60 to $1,329.80 on Tuesday. The TSX Venture Exchange fell 8.17 points to 789.24 while the TSX Gold Index added 1.97 points to 192.23. Barrick Gold Corp. (ABX) led Canadian gold miners higher, adding 57 cents to $17.15 on 4.08 million shares, on word that it had (barely) beaten its earnings projections for the first quarter.
Ashwath Mehra and Kevin Keough's GT Gold Corp. (GTT), up one cent to 76 cents on 220,000 shares, has laid out an 18,000-metre drill plan for its Saddle discovery on the Tatogga property in the Golden Triangle district of northwestern British Columbia. The program, which will cost nearly $7-million, will seek to expand the 2017 discovery of precious metals and copper along strike both eastward and westward from the Saddle South high-grade vein. It will also test the continuity of mineralization along the 2,500-metre-long Saddle North zone. The crews and equipment will arrive in early June and drilling will start later that month.
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