Gold Summary for Jan. 29, 2018

by Stockwatch Business Reporter

New York spot gold fell $9.40 to $1,339.90 on Monday. The TSX Venture Exchange fell 11.62 points to 879.18 while the TSX Gold Index lost 6.01 points to 194.70. Canadian gold miners were awash in a sea of red today, with Agnico Eagle Mines Ltd. (AEM) down $1.93 to $58.79 on 959,000 shares and Yamana Gold Inc. (YRI) off 25 cents to $4.26 on 6.73 million shares. Torex Gold Resources Inc. (TXG) leapt $2.04 to $14.11 on 1.95 million shares after it said that the illegal blockade of its ELG mine in Guerrero, Mexico, is over thanks to government intervention.

Brad Humphrey and David Rigg's QMX Gold Corp. (QMX), down one-half cent to 28.5 cents on 360,000 shares, has received assays of up to 1.9 grams of gold per tonne across 68.2 metres from the Bonnefond South plug at its Val d'Or East project in Quebec. That zone included a 39.7-metre subinterval that averaged 2.5 grams per tonne. The assays are from nine holes completed in a first phase of drilling at Bonnefond South. A second hole produced 13.2 grams per tonne across 8.8 metres. Mr. Humphrey, president and chief executive officer, says that drilling on the Val d'Or East project continues to return results "far exceeding our expectations."It is unclear why his expectations were so low: Historical drill results from Bonnefond South yielded comparable results, including up to 12.2 grams per tonne across 12 metres.

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