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by Stockwatch Business Reporter
New York spot gold lost $7.90 to $1,498.60 on Monday. The TSX Venture Exchange dipped 4.80 points to 583.71 while the TSX Gold Index slid 6.73 points to 241.35. Canadian gold miners followed bullion lower today, with Agnico Eagle Mines Ltd. (AEM) again in headlong retreat. It lost another $2.54 to $75.94 on 1.82 million shares, well off its late August high of $86.39.
Leon Teicher and Ari Sussman's Continental Gold Inc. (CNL), up three cents to $3.88 on 694,000 shares, has received assays of up to 41.57 grams of gold and 21.09 grams of silver per tonne over 42 metres from channel sampling at its Buritica project in Colombia. There were plenty of other noteworthy hits from sampling in the underground drifts into the Yaragua and Veta Sur systems, where the company is laying out stopes for future mining. Al told, the average gold grade for the mineralized intervals, which cover a portion of the drift widths, is 16.86 grams of gold per tonne over 314 metres of strike length.
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