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by Stockwatch Business Reporter
New York spot gold gained $20.90 to $1,350.20 on Wednesday. The TSX Venture Exchange added 14.99 points to 836.17 while the TSX Gold Index jumped 8.20 points to 191.58. Iamgold Corp. (IMG) led Canadian gold miners higher, adding 61 cents to $7.68 on 6.04 million shares. New Gold Inc. (NGD) was strong as well, adding 20 cents to $3.53 on 5.70 million shares.
Matthew Hornor's Maple Gold Mines Ltd. (MGM), up one cent to 28.5 cents on 595,000 shares, has updated its resource estimate for the Douay gold project, north of Val d'Or in Quebec. The company now lists 9.38 million tonnes indicated at 1.59 grams of gold per tonne plus another 84.15 million tonnes inferred at 1.02 grams per tonne, for a combined 3.24 million ounces, based on a cut-off of 0.45 gram per tonne. The company's previous estimate, prepared last year using a 0.5-gram-per-tonne cut-off, contained 2.8 million ounces across 83.3 million tonnes that averaged 1.05 grams per tonne.
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