McEwen Mining To Make Strategic Investment Into Goliath Resources

Core Viewpoint - Goliath Resources Limited has entered into a strategic investment agreement with McEwen Mining Inc., which recognizes the potential of Goliath's Surebet high-grade gold discovery in British Columbia [1][3]. Strategic Investment Highlights - McEwen Mining will invest C$10 million in Goliath Resources, acquiring 3.76% of the issued shares and receiving a half warrant exercisable at C$2.50 for 12 months [4]. - Goliath Resources will become a significant shareholder in McEwen Mining, which is noted for its gold mining operations and a world-class copper asset [3][4]. Surebet Gold Discovery - The Surebet discovery has shown significant improvement, with visible gold found in 92% of drill holes in 2024, up from 32% in 2023 [3]. - A recent drill hole returned an intersection of 10 meters at 132.93 g/t gold equivalent, placing it among the top percentile of global intersections in the past 20 years [3]. - The discovery features a series of stacked gently dipping veins with widespread high-grade gold and exceptional metallurgy, achieving gold recoveries of 92.2% [6]. Golddigger Property - The Golddigger Property covers 91,518 hectares in the Eskay Rift, a region known for significant gold deposits [5]. - Goliath controls 56 kilometers of the Red Line, a geological contact crucial for exploring gold-copper-silver mineralization [5]. Infrastructure and Location - The Surebet discovery is strategically located near communities with existing infrastructure, including a permitted mill site and direct barge access to Prince Rupert [7][8]. - The area is well-connected, with access to major highways, railways, and an international container seaport [8]. Future Prospects - Goliath Resources is awaiting results from 89 pending drill holes from the 2024 season and anticipates the potential for a second significant discovery, a volcanogenic massive sulphide (VMS) deposit [3]. - McEwen Mining is advancing its own projects, including a drilling campaign at the Fox Complex and a feasibility study for the Los Azules copper project [3].