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by Stockwatch Business Reporter
New York spot gold fell $7.20 to $1,322.60 on Wednesday. The TSX Venture Exchange fell 5.45 points to 783.79 while the TSX Gold Index lost 1.11 points to 191.12. Detour Gold Corp. (DGC) led Canadian gold miners lower, dropping 37 cents to $14.58 on 1.23 million shares. Barrick Gold Corp. (ABX) moved higher again today, adding 17 cents to $17.32 on 3.28 million shares.
John Lewins and Ian Stalker's K92 Mining Inc. (KNT), up five cents to 88 cents on 2.86 million shares, has received assays of up to 486.78 grams of gold and six grams of silver per tonne across 5.82 metres. The glittering assays are from the second two holes drilled from the Drill Cuddy Three location at the Kora North Extension zone on its Kainantu project in the Eastern Highlands district of Papua New Guinea. Assays from the first hole were less impressive, with the best interval being a 3.59-metre hit that averaged 32.54 grams of gold and 62 grams of silver per tonne, accompanied by 2.59 per cent copper. Mr. Lewins, chief executive officer, says that the assays showed that the latter hole was possibly the best hole drilled to that point, but it was "totally eclipsed by the results" of the second hole.
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