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Gold Summary for May 4, 2020

2020-05-04 17:57 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slipped $0.40 to $1,702.50 on Monday. North American markets were up a bit today, aided by resource stocks, sending the TSX-V up 2.96 points to 476.06. The TSX gold index also did well, adding 8.56 points to 350.83. Franco-Nevada Corp. (FNV), just $105 in the mid-March meltdown, crossed the $200 mark today, hitting an intraday high of $203.90 before ending the day up $7.29 to $201.81 on 983,000 shares. Guyana Goldfields Inc. (GUY) was weaker today, dropping six cents to 59 cents on 5.01 million shares.

Chris Taylor's Great Bear Resources Ltd. (GBR), up $1.46 to $11.55 on 921,000 shares, has received assays of up to 18.57 grams of gold per tonne over 13 metres from the LP fault target at its Dixie gold project near Red Lake in Northwestern Ontario. The new assays, from more than a dozen new holes, produced one particularly long interval that averaged 2.67 grams per tonne over 104.15 metres, a hit bolstered by a 28.9-metre interval that averaged 8.75 grams per tonne. Several high-grade subintervals were encountered in other holes, with assays as high as 156 grams per tonne over 0.5 metre.

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