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by Stockwatch Business Reporter
New York spot gold fell $5.70 to $1,316.90 on Thursday. The TSX Venture Exchange fell 0.74 point to 783.05 while the TSX Gold Index added 0.77 point to 191.89 New Gold Inc. (NGD) led Canadian gold miners lower today. It slid 21 cents to $3 on 8.11 million shares after it reported a first quarter loss of $29.1-million (U.S.) late yesterday. Kinross Gold Corp. (K) added six cents to $5.06 on 4.19 million shares.
Douglas Hurst and Michael Allen's Northern Empire Resources Corp. (NM), up two cents to $1.46 on 114,000 shares, has received assays of up to 13.85 grams of gold per tonne from sampling at its Sterling project in Nevada. The assays came from 580 rock chip samples collected across about 30 per cent of the 14,100-hectare property, mainly in the northern half of the block. They included 34 tests that topped one gram of gold per tonne, enough that the company has identified seven new exploration targets that it says "will begin to be tested" in its recently expanded 18,000-metre drill program.
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