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by Stockwatch Business Reporter
New York spot gold gained $8.30 to $1,276.10 on Friday. The TSX Venture Exchange gained 3.55 points to 788.32 while the TSX Gold Index added 2.02 points to 201.87. Most Canadian golds inched higher today, led by Premier Gold Mines Ltd. (PG), which added 14 cents to $3.82 on 1.27 million shares.
Peter Berdusco's Nexus Gold Corp. (NXS), down one-half cent to 9.5 cents on 1.04 million shares, has received assays of up to 4.41 grams of gold per tonne over 8.15 metres at its Bouboulou project in Burkina Faso. Nine of the 10 holes drilled in the company's maiden drill program at Bouboulou returned gold. A second hole managed 5.21 grams per tonne across 3.05 metres and a third delivered 1.04 grams per tonne over 23 metres.
Mr. Berdusco, president and chief executive officer, says that the drilling has "confirmed historical data and the zones carrying high-grade gold." (It did: Drilling six years ago by Roxgold Inc. produced comparable assays, although Mr. Berdusco is apparently using a Howe Street definition of high-grade gold.) Mr. Berdusco says that Nexus's next round of drilling at Bouboulou will continue to define the zones, which remain open in all directions, with the goal of "eventually defining a resource."
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