Mahdia Gold Corporation derives its name from the resource-rich mining town, Mahdia, located in central Guyana. Historically, the central Guyanese region was made popular by the Omai gold mine. The Omai mine produced approximately 4.000.000 ounces of gold from two open pits. Having identified the potential of this region, Mahdia Gold acquired the exploration rights to the historic Omai gold mine.
The vision of Mahdia Gold Corporation is to build a world class mining operation at its Omai Project. The mining operation aims to create jobs, generate revenue, and build shareholder wealth while protecting the environment, the heritage and the culture of Guyana. The company will invest in the long term well-being of the local community, and will work diligently to make the best use of the assets and mineral wealth contained within Omai. By utilizing existing structures and processing the project's alluvial deposits through responsible mining, the company will maximize mineral recoveries. Furthermore, generated funds will enable Mahdia Gold to explore, develop and make additional improvements to the mining operation to achieve its world class status.
Located in South America, Guyana is bordered by Venezuela on the west, Suriname on the east, Brazil on the south and the Atlantic Ocean on the north. Guyana's land area is approximately equal to the United Kingdom with a population of only 770,000 people, 31% living in the capital city of Georgetown on the Atlantic coast. Guyana gained its independence from Britain in 1966 and has a democratically elected government that respects private sector development. Guyana Mining Act is similar to the Canadian Mining Act. English is the official language and Guyana is a Member of CARICOM (Caribbean Community).
The relatively undeveloped nature of Guyana presents a significant mineral exploration and development opportunity. Guyana has a geological profile containing greenstone belts that are very similar to those found in Ghana, West Africa and Timmins, Ontario. The Guiana Shield, a 2.2 billion year old Precambrian geological formation, underlies Guyana, Suriname, French Guiana parts of Venezuela, Brazil and Columbia. It is the least explored of the world's Archaean and Proterozoic terrains.
Exploration in the past 2 decades has resulted in the discovery of large-scale deposits such as Crystallex's Las Cristinas deposit in Venezuela, Omai in Guyana, Rosebel in Suriname, Camp Caiman and Dorlin in French Guiana. The Birmian Shield in West Africa, which includes Ghana, the area's largest gold producer, is distinctly similar to the Guiana Shield and hosts some of the world's largest gold deposits. The Archean greenstone belts of Canada and the Proterozic belts of Ghana can be considered mature gold camp. The Proterozoic Guiana Shield of South America represents the Birmian single largest under-explored greenstone belt in the world.