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Discovery Minerals forming JV over War Mountain gold-silver project in Idaho

Discovery Minerals Ltd. said Dec. 27 that it executed a letter of intent to form a joint venture with the owners of the War Mountain gold-silver project in Idaho.

The joint venture will start a pre-mining program in January that will include surveys and geological mapping as well as a report on the existing milling and extraction facility with a view toward increasing its capacity to 10 tons per hour from the current 3 tonnes per hour.

The venture will also continue work by the owners to gain access to previous workings in the past-producing mine.

Meanwhile, Discovery, which changed domicile to Wyoming this year, said it is negotiating with Meritus Minerals Ltd. for more favorable terms for the Gutain Davaa gold project in Mongolia.

Discovery signed a deal with Meritus in May to develop the project.