McEwen Mining To Make Strategic Investment Into Goliath Resources
Goliath Resources (GOTRF) has secured a strategic investment from McEwen Mining, which will acquire 3.76% of Goliath's outstanding shares in a transaction valued at C$10 million, paid in McEwen Mining shares. The deal includes half warrants exercisable at C$2.50 for 12 months, with Goliath receiving 868,056 McEwen Mining shares.
The investment follows Goliath's successful 2024 drilling campaign at its Surebet high-grade gold discovery in British Columbia's Golden Triangle, where visible gold was found in 92% of drill holes, up from 32% in 2023. A notable intersection returned 10 meters of 132.93 g/t gold equivalent. The discovery shows exceptional continuity with 92.2% gold recoveries, including 48.8% as free gold from gravity alone.
The Golddigger Property, 100% controlled by Goliath, covers 91,518 hectares and is strategically located near existing infrastructure and transportation routes.
Goliath Resources (GOTRF) ha ottenuto un investimento strategico da McEwen Mining, che acquisirà il 3,76% delle azioni in circolazione di Goliath in una transazione del valore di 10 milioni di dollari canadesi, pagata in azioni McEwen Mining. L'accordo include la metà dei warrant esercitabili a 2,50 dollari canadesi per 12 mesi, con Goliath che riceve 868.056 azioni di McEwen Mining.
L'investimento segue la riuscita campagna di perforazione 2024 di Goliath presso la sua scoperta di oro ad alto grado Surebet nel Triangle d'Oro della Columbia Britannica, dove è stato trovato oro visibile nel 92% dei fori di perforazione, in aumento rispetto al 32% del 2023. Un'intersezione notevole ha restituito 10 metri con un equivalente d'oro di 132,93 g/t. La scoperta mostra un'eccezionale continuità con recuperi d'oro del 92,2%, inclusi il 48,8% come oro libero dalla sola gravità.
La proprietà Golddigger, controllata al 100% da Goliath, copre 91.518 ettari ed è strategicamente situata vicino a infrastrutture esistenti e vie di trasporto.
Goliath Resources (GOTRF) ha conseguido una inversión estratégica de McEwen Mining, que adquirirá el 3.76% de las acciones en circulación de Goliath en una transacción valorada en 10 millones de dólares canadienses, pagada en acciones de McEwen Mining. El acuerdo incluye la mitad de los warrants que se pueden ejercer a 2.50 dólares canadienses durante 12 meses, con Goliath recibiendo 868,056 acciones de McEwen Mining.
La inversión sigue a la exitosa campaña de perforación de Goliath en 2024 en su descubrimiento de oro de alta Ley Surebet en el Triángulo Dorado de Columbia Británica, donde se encontró oro visible en el 92% de los pozos perforados, un aumento respecto al 32% en 2023. Una intersección notable devolvió 10 metros con un equivalente de oro de 132.93 g/t. El descubrimiento muestra una continuidad excepcional con recuperaciones de oro del 92.2%, incluyendo el 48.8% como oro libre solo por gravedad.
La propiedad Golddigger, controlada al 100% por Goliath, cubre 91,518 hectáreas y está estratégicamente ubicada cerca de infraestructuras existentes y rutas de transporte.
골리앗 리소스(GOTRF)가 맥유언 마이닝으로부터 전략적 투자를 확보했습니다. 맥유언 마이닝은 골리앗의 발행주식 3.76%를 인수하며, 이 거래는 1천만 캐나다 달러로 평가되며, 맥유언 마이닝의 주식으로 지급됩니다. 이번 계약에는 2.50 캐나다 달러에 12개월 동안 행사 가능한 반의 워런트가 포함되어 있으며, 골리앗은 868,056개의 맥유언 마이닝 주식을 받습니다.
이번 투자는 골리앗이 브리티시컬럼비아의 골든 트라이앵글에 있는 슈어벳 고품질 금 발견지에서 성공적인 2024년 시추 캠페인을 마친 후 이루어졌으며, 시추 구멍의 92%에서 가시적인 금이 발견되었습니다. 이는 2023년의 32%에서 증가한 수치입니다. 주목할 만한 교차점에서는 10미터의 금 등가물 132.93 g/t가 반환되었습니다. 이 발견지는 92.2%의 금 회수율을 보여주며, 그 중 48.8%가 단순한 중력으로 얻어진 자유 금으로 포함됩니다.
골드디거 소유지는 골리앗이 100% 소유하며, 91,518 헥타르에 달하고 기존 인프라 및 교통 경로에 전략적으로 위치해 있습니다.
Goliath Resources (GOTRF) a sécurisé un investissement stratégique de McEwen Mining, qui acquerra 3,76 % des actions en circulation de Goliath dans une transaction valorisée à 10 millions de dollars canadiens, payée en actions de McEwen Mining. L'accord inclut la moitié des bons d'achat exerçables à 2,50 dollars canadiens pendant 12 mois, avec Goliath recevant 868 056 actions de McEwen Mining.
L'investissement fait suite à la campagne de forage réussie de Goliath en 2024 dans sa descouverte d'or à haute teneur Surebet dans le Triangle d'Or de la Colombie-Britannique, où de l'or visible a été trouvé dans 92 % des trous de forage, contre 32 % en 2023. Une intersection notable a retourné 10 mètres avec un équivalent d'or de 132,93 g/t. La découverte montre une continuité exceptionnelle avec un taux de récupération de l'or de 92,2 %, dont 48,8 % sous forme d'or libre par gravité.
La propriété Golddigger, contrôlée à 100 % par Goliath, couvre 91 518 hectares et est stratégiquement située près des infrastructures existantes et des voies de transport.
Goliath Resources (GOTRF) hat eine strategische Investition von McEwen Mining gesichert, das 3,76 % der ausgegebenen Aktien von Goliath erwerben wird, in einer Transaktion im Wert von 10 Millionen kanadischen Dollar, die in McEwen Mining-Aktien bezahlt wird. Der Deal beinhaltet die Hälfte der Warrants, die für 12 Monate zu 2,50 kanadischen Dollar ausgeübt werden können, wobei Goliath 868.056 McEwen Mining-Aktien erhält.
Die Investition folgt auf die erfolgreiche Bohrkampagne 2024 von Goliath bei seinem Surebet Hoherzgoldfund im Goldenen Dreieck von British Columbia, wo in 92 % der Bohrlöcher sichtbares Gold gefunden wurde, gegenüber 32 % im Jahr 2023. Eine bemerkenswerte Schnittstelle ergab 10 Meter mit 132,93 g/t Goldäquivalent. Die Entdeckung zeigt eine außergewöhnliche Kontinuität mit 92,2 % Goldgewinnen, wobei 48,8 % als freies Gold allein durch Schwerkraft gewonnen wurden.
Das Golddigger-Grundstück, das zu 100 % im Besitz von Goliath ist, umfasst 91.518 Hektar und ist strategisch günstig in der Nähe vorhandener Infrastruktur und Verkehrswege gelegen.
- Strategic investment of C$10M from established mining company McEwen Mining
- Significant drilling results with 92% of 2024 holes showing visible gold (up from 32% in 2023)
- Exceptional gold recovery rate of 92.2% with 48.8% as free gold from gravity alone
- High-grade intersection of 132.93 g/t gold equivalent over 10 meters
- 89 additional drill holes pending results
- Favorable location with access to infrastructure and transportation
- None.
TORONTO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce that an agreement has been made for McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) to make a strategic investment into Goliath Resources.
Strategic Investment Highlights
- Post transaction, McEwen Mining will own
3.76% of the issued and outstanding shares of Goliath Resources. - McEwen Mining will pay in McEwen Mining shares worth C
$10 million based on the closing price of McEwen Mining and Goliath Resources on January 28, 2025. - McEwen Mining will receive a half warrant, exercisable at C
$2.50 for 12 months. - Goliath Resources will own 868,056 shares of McEwen Mining.
Roger Rosmus, Founder and CEO of Goliath Resources, states: “We are delighted to have McEwen Mining make a strategic investment into Goliath Resources. Rob McEwen recognized the potential of our Surebet high-grade gold discovery in 2023, and has made three personal investments through private placements since then. Our 2024 drilling campaign was a major breakthrough season for the Surebet high-grade gold discovery in the Golden Triangle of British Columbia. The discovery is noted for having a series of stacked gently dipping veins with widespread high-grade gold. It is fortunate to have a remarkable content of visible gold which is in all the rock units (sediments, contact of the sediments and volcanics, and in the volcanics, as well as in the intrusion related dykes) with abundant fine-grained visible gold, including coarse-grained visible gold. In our 2023 drilling, we found visible gold in
Rob McEwen, Chairman and Chief Owner of McEwen Mining, states: “The Goliath Resources team has done a terrific job advancing their Surebet high-grade gold discovery in the Golden Triangle of British Columbia and McEwen Mining is thrilled to make a strategic investment into Goliath Resources. What initially caught my attention was the high-grade gold they discovered, and that it was a grassroots discovery in the Golden Triangle which is a prolific gold mining jurisdiction, one of the most important in Canada. Worldwide, grassroots discoveries of high-grade gold in a mining-friendly jurisdiction well-known for high-grade gold mines are exceedingly rare. They were able to make the grassroots discovery due to it until fairly recently being covered by glaciers and permanent snowpack that have receded to expose a large area of outcropping rock that has now been significantly advanced over the past few drilling seasons. McEwen Mining is committed to gold mining, our gold mines are benefitting from the record high prices of gold in 2024 and we have an updated resource coming out in the first quarter of 2025 on our Fox Complex, where we also have a 69,500 meter (budgeted for
Golddigger Property
The Golddigger Property is
The Surebet discovery has exceptional continuity and excellent metallurgy with gold recoveries of
The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.
Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the west coast and houses an international container seaport also with direct access to railway and an airport.
About CASERM (Center To Advance The Science Of Exploration To Reclamation In Mining)
Goliath is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. As a CASERM member, the Company requested a study and written report to be performed by Colorado School of Mines analysing Surebet’s origin of mineralization. The study confirmed an extensive porphyry feeder source at depth for the high-grade gold mineralising fluids at Surebet.
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is also a director of the Company.
About Goliath Resources Limited
Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in worldclass geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott, a Singapore based fund and Larry Childress.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.
The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FAQ
What are the terms of McEwen Mining's strategic investment in Goliath Resources (GOTRF)?
What were the key drilling results from Goliath Resources' (GOTRF) 2024 Surebet discovery campaign?
What are the gold recovery rates at Goliath Resources' (GOTRF) Surebet discovery?
How many pending drill holes does Goliath Resources (GOTRF) have from its 2024 drilling season?
What is the size and location of Goliath Resources' (GOTRF) Golddigger Property?
