The TSX ended the day in the red again on Tuesday, down 45.13 points to 11,918.71, while the TSX Venture slid 3.17 points to 1,558.76.

In terms of sector moves, metals and mining declined 0.83%, while energy fell 0.63%.

Meanwhile, the price of gold also declined, falling $1.70 to $1,122.30 an ounce.

On the TSX, shares of Minco Gold (TSX: T-MMM) surged 59.6% to $1.50 after the company announced the discovery of “a large gold zone” on its Oujiaba property, within the Yangshan Gold Belt, Gansu Province, China. Minco says the discovery has been traced for approximately 6 kilometres.

Also, the Bank of Nova Scotia (TSX: T-BNS) reported its first quarter results, including net income of $988 million and diluted earnings per share of 91 cents, compared to earnings of $842 million and earnings per share of 80 cents in the same quarter last year. Shares of BNS fell 1.4% to $49.42.

Major Drilling Group International (TSX: T-MDI) also reported its third quarter results, including quarterly revenue of $72.5 million, down 17% from $87.4 million in the same quarter last year. The company also reported a net loss of $4.5 million or 19 cents per share for the quarter, compared to a loss of $5.1 million or 21 cents per share for the prior year quarter. Shares of the company declined 3.7% to $26.88.

And, Apollo Gold Corporation (TSX: T-APG) and Linear Gold Corp. (TSX: T-LRR) announced that they intend to combine to create an emerging Canadian mid-tier gold producer. Under the agreement, Apollo has agreed to acquire all of the outstanding common shares of Linear in exchange for 5.474 Apollo common shares per Linear common share. Shares of Apollo Gold fell four cents to 38 cents, while shares of Linear Gold declined 5% to $1.90.

On the Venture, shares of Minaurum Gold (TSX: V-MGG) gained 24.2% to 77 cents, after the company said that it has entered into an agreement with Minera Coplau, a subsidiary of Minera Cascabel S.A. de C.V., to acquire the Adelita Gold-Silver-Copper Skarn-Porphyry project in Mexico.

In other moves, shares of Ithaca Energy (TSX: V-IAE) moved 9.8% higher to end the day at $1.79, Franconia Minerals (TSX: T-FRA) climbed 18.8% to 76 cents, and CRS Electronics (TSX: V-LED) was up 16 cents to 75 cents.