Welcome!

News Feed Item

Mahdia Gold Corp. (CNSX:MGD) Announces Corporate Update

TORONTO, ONTARIO -- (Marketwire) -- 02/08/13 -- Mahdia Gold Corp. (CNSX:MGD) ("Mahdia" or the "Company") is pleased to announce an operational update summarizing 2012 and January, 2013.

Mahdia had a very active twelve months of activities since the Omai property was acquired in January 2012.

Milestones include: the initial receipt of the Prospecting License in January 2012; assumption of field operations; design and commencement of systematic fieldwork and construction including, the rehabilitation of dormitories, admin buildings, workshops and workspaces to support exploration and operations; and establishing a secure perimeter to allow for peaceful exploration and development operations in the area. The Company's professional security team has performed an exemplary service in establishing and maintaining control in support of the program.

The Company inherited 105,000 meters of historical drilling results from the previous operator and has been working to validate a comprehensive database of geological and geochemical results and historic prospecting and mining information. This data has substantial value and in conjunction with the existing infrastructure, represents a major accelerant to testing and development, contributing to an increase in the potential value of the Omai property.

On initial review of this data, the potential for substantial expansion of the known historical deposits at Wenot and Fennell was evident, and the phase I program was designed jointly with Mahdia's engineering partner to verify the database, confirm the potential for expansion and prepare a National Instrument 43-101 compliant resource estimate. These objectives were incorporated in the Company's diamond drilling program and a very extensive effort was undertaken to rehabilitate the historical core in the target areas. While this process requires considerable time and geological work, it represents a substantial saving relative to the cost of reproducing these intercepts with new drill-holes. A significant component of Mahdia's early investment in the project included engineering consulting, the establishment and maintenance of compliant quality assurance and quality control, and the development of a locally based technical field support network in Georgetown and Linden.

During this period, Mahdia continues to study the historical data and the new data of the property, and evaluate the targets.

The forensic core rehabilitation program was very successful in that about 80% of the 35,000 meters of deep Fennell core were rehabilitated and re-logged, and are being selectively resampled to validate that portion of the database without incurring new drilling expenditure. This has allowed the Company to redirect its drilling, to optimize high -grade targets within the Fennell stock and drill deeper to expand this very substantial mineralized body. The objective of validating this target for compliance purposes has been superseded by a focus on growth and grade optimization.

The geological fieldwork completed at Omai also identified significant superficial deposits that were documented in work by former operators, but not developed. They include lateritic and deep alluvial deposits, a significant stockpile complex which shall be tested for its gold content and economic value, and some more traditional exploration targets based on geochemical data and auger drilling results. Collectively these new targets represent a substantial addition to the exploration and development arena, with the additional advantage of low evaluation development and (if the grades meet expectations) operating costs.

The Company further recognized (through the Sasso option agreement), in its decision to act on the approximately 21,800 acres that expands the Omai property south of the Essequibo River, the need to continue growth beyond the 7,244 acres of the Omai Prospecting License. The long-term resource growth is part of the plan that will advance the Omai district from a Prospecting License to a fully matured Mining License and a major, integrated mining and processing complex that will benefit in stages from all of these targets.

The Company recognized a need to expand and enhance its management team and has taken material steps to do so. The Company has welcomed John Reynolds, Donald Gordon, John Martin, Michael Galloro, and Andre Douchane in their various capacities to assist in Mahdia's governance, growth plans and efficiencies.

In 2013 the Company will focus its efforts on:


--  Commencement of production in the Shallow Flats area high grade
    materials, through an agreement with Roraima 
--  Testing of mineralization of the stockpiled material left behind by the
    previous mine operator 
--  Completion of the prefeasibility study, followed by a feasibility study
    in 2013 
--  Establishment of a production plant for mineralized stockpile 
--  Establishment and implementation of the next phase of the exploration
    program at the Wenot and Fennell Pits 
--  National Instrument 43-101 compliant resource estimate 

Mr. Bending manages Mahdia's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised and approved the preparation of the technical information in this release.

For additional information including a photo library showing the advancement of activities at the Omai mine site please visit the Company's website at www.mahdiagold.com.

About Mahdia Gold Corp.

Mahdia is a Canadian-based gold exploration company with active gold prospects in Guyana, South America.

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your ...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...