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Gutain Davaa, Mongolia


Gutain Davaa Gold Project (ELs 5575x, 6155x)

HIGHLIGHTS

  • Acquired 100% of 3,928 ha Gutain Davaa Gold Project from Troy Resources and private party in Mongolia in 2010;
  • Gutain Davaa has six gold prospects with high grade surface samples that have seen limited testing;
  • Drilling program on the Toordogiin Shil prospect completed 36 diamond drill holes in 2010 with spectacular results;
  • Drill campaign outlined a mineralized strike length of 290 meters to a depth of 135 meters. The deposit is open in both strike directions and to depth
  • Best intersections include 8.78 g/t Au over 28.6 m, 10.7 g/t Au over 8.05 m and 7.73 g/t Au over 16.0 m. Included high grade assays  as high as 62.8 g/t Au over 3.00 m.
  • A second drill campaign started in late December 2010 and will continue through the winter.

PROJECT DESCRIPTION

Gold is hosted in quartz veins in granitic intrusions and sediments. The system appears to be epithermal with a partial remobilization of gold into brecciated zones caused by episodes of folding and faulting. High grade intersections often sit in envelopes of lower grade material.

The project is well situated with respect to infrastructure. The town of Batshireet, with basic supplies and power, is located approximately 25 kilometers from the project and water is readily available in a river that flows down the valley which is being alluvial mined by locals. The Onon River, a major waterway, is located five kilometers from the project

Mongolia has a good supply of technical and manual labour and drilling and assaying contractors with international reputations and standards are available.

TOORDOGIIN SHIL PROSPECT

The Toordogiin Shil prospect was discovered as high grade surface samples and has been  partially delineated on surface by soil sampling.

Troy Resources drill campaigns partially outlined a high grade gold mineralized zone to shallow depths over a short strike length.

Meritus has completed a total of 36 diamond drill holes (to December 1, 2010) over a strike length of 290 meters to a maximum vertical depth of 135 meters. The mineralization is open along strike to northwest, southeast and to depth.

Further drilling is continuing throughout the winter of 2010-2011

SIGNIFICANT DRILL RESULTS AT GUTAIN DAVAA

HOLE NO. FROM (m) TO (m) WIDTH (m) GOLD (g/t)
TSD001 7.0 14.3 7.3 4.39
incl 12.0 14.3 2.3 10.91
TSD002 33.2 61.8 28.6 8.78
Incl 33.2 42.0 8.8 23.41
TSD003 47.8 58.5 10.7 8.05
TSD004 11.1 41.8 30.7 3.92
incl 11.1 13.8 2.7 14.44
and 36.7 41.8 5.1 12.09
TSD005 57.6 61.3 3.7 3.07
TSD006 22.0 24.9 2.9 12.22
TSD007 53.7 63.5 9.8 2.99
HOLE NO. FROM (m) TO (m) WIDTH (m) GOLD (g/t)
TSD008 9.9 20.6 10.7 7.21
TSD010 35.0 51.0 16.0 7.73
incl 35.0 42.0 7.0 12.56
TSD013 55.0 67.0 12.0 7.53
incl 62.6 67.0 4.4 18.5
TSD017 92.0 102.0 10.0 1.77
incl 92.0 95.25 3.25 3.60
TSD019 38.6 40.0 1.4 7.21
TSD020 57.45 64.0 6.55 3.55
incl 57.45 58.0 0.55 17.62
TSD021 87.2 101.0 13.8 3.67
TSD023 115.2 117.1 1.9 10.50
TSD026 82.6 88.25 5.65 11.14
incl 86.3 88.25 1.95 28.31
HOLE NO. FROM (m) TO (m) WIDTH (m) GOLD (g/t)
TSD026 (cont’d) 122.7 126.0 3.3 9.94
TSD027 81.4 82.0 0.6 7.99
TSD028 99.0 102.6 3.6 4.77
TSD032 86.5 106.0 19.5 1.96
incl 100.0 102.15 2.15 9.37
  112.85 113.5 0.65 5.74

 

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