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by Stockwatch Business Reporter
New York spot gold gained $6.80 to $1,322.50 on Monday. The TSX Venture Exchange added 11.67 points to 825.06 while the TSX Gold Index rose 5.48 points to 183.84. Tahoe Resources Inc. (THO) led Canadian gold miners higher, adding 37 cents to $5.22 on 4.04 million shares, despite a temporary halt to commissioning at its Shahuindo mine in Peru. The problem has since been fixed.
Fraser Elliott and Greg Romain's Gowest Gold Ltd. (GWA), up one-half cent to 14 cents on 170,000 shares, has received assays of up to 20.91 grams of gold over 4.2 metres at its Bradshaw deposit on the North Timmins project in Northern Ontario. The latest assays are from the remaining 12 infill holes drilled last fall as part of a 29-hole program, and from a single hole drilled about 150 metres farther north to test a 12-year-old intercept that had produced 10.15 grams per tonne across four metres. Mr. Romain, president and chief executive officer, says that the new hole "confirmed the mineralization," yielding 28.4 grams of gold per tonne across 0.3 metre, within a 1.5-metre zone averaging 6.21 grams per tonne. (On Howe Street, "confirmed" is not a synonym for "matched.")
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