PROJECTS British Columbia covers some of the best mineralized areas of the world and hosts world class deposits.
Merit Mining Corp. owns 100% interest in 7,700 hectares of BC and Washington State properties, which the Company acquired from Gold City Industries Ltd. in 2004. In addition, in April 2007 the Company entered into an option agreement whereby it may acquire a 100% undivided interest in the J&L polymetallic property, located near Revelstoke, BC. The Greenwood Gold Project, located near Greenwood, BC, lies in a highly mineralized district. Approximately 7.5 million ounces of gold from production and resources are attributed to an area from Greenwood to Republic, Washington. The Greenwood Gold Project is currently comprised of three deposits - the Lexington-Grenoble and Golden Crown, gold/copper deposits and the Lone Star, copper/gold deposit. The Golden Crown Property is in close proximity to the historic Phoenix mine which produced more than 900 thousand ounces of gold and 520 million pounds of copper. Construction of a centralized 200 tonne per day (tpd) gravity/flotation mill and tailings facility No. 1 commenced in late August 2007 and was completed ahead of schedule in the first quarter of 2008. Commissioning of the Greenwood mill commenced in March 2008. The Mine and Mill Operating Permits were received from the Province of British Columbia to operate the Lexington-Grenoble Mine and the Greenwood Mill at a production rate of 72,000 tonnes per annum (~ 200 tpd) on May 8, 2008. Commercial production commenced as of June 1, 2008. On May 12, 2008 the Company announced the signing of a landmark Impacts and Benefits Agreement with the Osoyoos Indian Band ("OIB") with respect to Merit exploring, developing and operating the Greenwood Gold Project. The Greenwood Gold Project was put on care-and-maintenance in December 2008, when the Company ran into financial difficulties. In August 2007 Merit's board of directors approved a $10.8 million program for the J&L polymetallic project comprised of surface diamond drilling, underground rehabilitation and development, underground diamond drilling, and initiation of a pre-feasibility study. As of December 2007 a 40-man camp was installed and construction of a shop/mine dry complex was completed. A surface diamond drill program was completed on the Yellowjacket zone in November 2007. In January 2008 rehabilitation of the 832 portal and underground development commenced. Exploration plans include 1,000 metres of underground development and 5,000 metres of underground diamond drilling. The project is currently shutdown awaiting additional financing.
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