2014-09-02 17:24 ET - News Release
Mr. Don Gordon reports
MAHDIA GOLD CORP (CSE: MGD) ANNOUNCES AN UPDATE ON THE JOINT VENTURE OPERATIONS AT THE OMAI SITE
Mahdia Gold Corp. has installed and completed a test run of a 200-ton-per-hour alluvial plant on the Omai site. The company's joint venture with K.B. Mining completed installation of the 200-ton-per-hour alluvial plant and operated two test runs during the last week. The first test run produced four ounces 13 pwt (pennyweights) from a 12-hour period and the second test run on Aug. 31, 2014, produced nine ounces four pwt from a 24-hour period.
The second alluvial plant (a 75-ton-per-hour plant) has arrived on the Omai site and will run alongside the first plant. The joint venture allows for 10 alluvial plants with an additional two wholly owned (after payout) 200-ton-per-hour plants.
The JV partnership has already brought in several excavators, two alluvial plants, rolling stock, manpower and additional technical expertise to enhance and expedite the development of the placer gold production program. A total of 10 alluvial plants, including crushers, concentrators and diamond recovery systems, are part of the deployment plans.
Mahdia Gold and its JV partner may install nighttime working lights and operate additional shifts as recoveries and equipment functioning permit. The JV partnership has employed adequate crews for proper rotations. Management's focus is on field operations, building production and stabilizing its finances. To deal with requests for frequent updates, monthly production reports, including imagery, will be posted on the website, and the company's monthly Canadian Securities Exchange reports for regular production updates will be available to its shareholders and the public.
The company's short-term goal is to develop a placer gold production stream that may be leveraged into a significant financing for the continued development its core hard rock project.
We seek Safe Harbor.