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by Stockwatch Business Reporter
New York spot gold lost $3.20 to $1,328.60 on Thursday. The TSX Venture Exchange fell 14.07 points to 817.08 while the TSX Gold Index slipped 3.26 points to 182.56. Eldorado Gold Corp. (ELD) led Canadian gold miners lower today, dropping 15 cents to $1.20 on 14.77 million shares. The company lost $21.4-million (U.S.) last year. Detour Gold Corp. (DGC) bucked the trend, gaining six cents to $12.85 on 1.83 million shares.
Phillip Walford's Marathon Gold Corp. (MOZ), down one cent to 95 cents on 156,000 shares, has received assays of up to 18.66 grams of gold per tonne over a true width of 11.1 metres from a deep hole at the Marathon deposit at its Valentine Lake project in central Newfoundland. This is one of the thickest and highest-grade gold intervals encountered so far on the project. Much of the gold within that interval came from a 1.7-metre zone averaging 70.66 grams per tonne and a 2.6-metre width averaging 27.95 grams per tonne. Mr. Walford, president and chief executive officer, says that the success of the latest drilling is very exciting, given the high-grade gold being found along strike and at depth.
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