Discovery minerals LTD. signs agreement on Mongolia gold www.news.mn
Discovery Minerals Ltd. has signed an agreement for its Mongolia Gold Project. The Board of Directors is pleased to announce that after several months of negotiations an agreement has now been executed with Canadian company Meritus Minerals Limited.
Discovery will now embark on an intense programme to bring the project into production as soon as possible. The Project has already been granted a 30 year Mining Permit which will shorten the lead up time to go into bullion production.
“The drilled target at Gutain Davaa has a resource that has excellent potential to be expanded to about 500,000 ounces of gold and possibly more. Other targets on the mining license have potential to add resources of similar grade.
District wise there is excellent potential to locate substantial gold resources of similar nature to those at Toordogiin Shil, or possibly large tonnage lower grade resources similar to those at Boruu and Gasurt. There is a high chance of the district turning into a new gold camp.
Providing MMGL is able to work with the Soum authorities and enter into arrangements with them that are of distinct benefit to the local community, there is an excellent probability that MMGL will be able to establish itself as the preferred operator within Batshireet Soum and have advantages in obtaining new exploration titles.”