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Gold Summary for Oct. 22, 2018

2018-10-22 21:20 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $4.80 to $1,221.70 on Monday. The TSX Venture Exchange dropped 22.00 points to 660.16 while the TSX Gold Index lost 2.06 points to 169.57. Agnico Eagle Mines Ltd. (AEM) led Canadian gold miners lower today, dropping 97 cents to $47.56 on 1.68 million shares. Guyana Goldfields Inc. (GUY) went the other way, adding three cents to $3.22 on 503,000 shares.

Ian Klassen's Grande Portage Resources Ltd. (GPG), down 3.5 cents to 25 cents on 5.13 million shares, has received assays of up to 30.24 grams of gold and 40.52 grams of silver per tonne over a true width of 4.81 metres from the first two of 15 holes drilled at its Herbert gold project, just north of Juneau in southeastern Alaska. The other hole yielded 15.76 grams of gold and 8.7 grams of silver per tonne across a true width of 2.47 metres. These first two holes encountered the central Deep Trench vein, the southernmost of three major veins identified so far. Mr. Klassen, president and chief executive officer, said he was "really pleased" with the first two holes, adding that he is looking forward to results from the next 13 tests.

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