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Discovery Minerals signs deal with Meritus to develop Mongolia gold project

Discovery Minerals Ltd on May 22 announced it signed a deal with Meritus Minerals Ltd. to develop the Gutain Davaa gold project in Mongolia.

Discovery will start a program to bring the project into production as soon as possible. It already has a 30-year mining permit.

The company also appointed Girvan Jackson as a new director and the project manager for the project.

It cited a geological report from 2016 as saying the resource at Gutain Davaa has the potential to be expanded to 500,000 ounces of gold.