Gold Summary for March 2, 2018

by Stockwatch Business Reporter

New York spot gold gained $5.60 to $1,322.60 on Friday. The TSX Venture Exchange lost 3.30 points to 826.02 while the TSX Gold Index rose 0.31 point to 181.41. Barrick Gold Corp. (ABX), down 18 cents yesterday, led Canadian gold miners higher today, adding 28 cents to $14.88 on 9.41 million shares after Moody's Investors Service upgraded its debt rating.

Michael Hudson's Mawson Resources Ltd. (MAW), down two cents to 59 cents on 165,000 shares, has received assays of up to 8.4 grams of gold per tonne over 31.7 metres from its Rajapalot project in northern Finland. The gold zone included a 10.9-metre interval that averaged 21.0 grams of gold per tonne.The assays are from the first five holes of the company's 21-hole, 4,900-metre drill program. The noteworthy hit, the best obtained from Rajapalot so far, is one of three reported results from the Raja prospect.

That test, encouragingly, was a stepout hole drilled 120 metres down plunge from where the company previously hit 13.5 metres averaging four grams of gold per tonne. A second hole at Raja produced 4.1 grams per tonne across 9.9 metres, but it was not all hats and horns: A third test, drilled at the easterly extent of Raja, did not encounter gold. Meanwhile, two holes drilled at the South Palokas target produced 2.5 grams per tonne across 9.9 metres and 1.2 grams per tonne across two metres.

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