A Golden Opportunity Continues in the Golden Triangle

Source: John Newell 02/06/2025

John Newell of John Newell & Associates shares an update on Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF; FSE), including new price targets.

This article is an update from the original article I shared with Streetwise Reports on July 22, 2024.

Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF; FSE) continues to solidify its position in the precious metals exploration sector, particularly with its advancements on the Golddigger property in British Columbia’s renowned Golden Triangle. Recent developments have further enhanced the company’s prospects, making it a focal point for investors and industry stakeholders.

Strategic Investment by McEwen Mining

On January 29, 2025, Goliath announced a strategic investment agreement with McEwen Mining Inc. (MUX:TSX; MUX:NYSE )). Post-transaction, McEwen Mining will own 3.76% of Goliath’s outstanding shares, valued at C$10 million, paid in McEwen Mining shares. Additionally, McEwen Mining will receive half-warrants exercisable at CA$2.50 for 12 months. Consequently, Goliath will hold 868,056 shares of McEwen Mining.

Rob McEwen, Chairman and Chief Owner of McEwen Mining, stated, “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.”

This investment reflects the growing confidence in Goliath’s exploration success and its potential to become a major high-grade gold producer.

2024 Drilling Campaign Success

Goliath’s 2024 drilling campaign at the Surebet high-grade gold discovery was a breakthrough. The discovery is noted for having a series of stacked, gently dipping veins with widespread high-grade gold mineralization.

Key Highlights:

• In 2024, visible gold was found in 92% of the drill holes, a significant increase from 32% in 2023.
• Notably, one intersection returned 10 meters of 132.93 g/t gold equivalent, further solidifying Surebet’s potential as a world-class deposit.
• Ongoing metallurgical testing continues to confirm high gold recoveries, indicating strong future economic viability.

With continued exploration success and expansion of mineralized zones, Goliath is proving that the Surebet discovery is just the beginning of a larger gold system.

Stock Performance & Market Sentiment

As of February 5, 2025, Goliath Resources’ stock closed at CA$2.37, successfully surpassing its first target of CA$2.25.

Stock Performance Overview:

• Over the past year, the stock has increased by 90.72%, reflecting growing investor confidence.
• Recent developments, including McEwen Mining’s strategic investment, have further fueled momentum.
• With bullish technical indicators in play, Goliath Resources appears primed for further gains.

Technical Analysis: Breakout Confirmed, Next Targets in Play

Goliath Resources’ stock has achieved a significant technical breakout, confirming its bullish trend.

Technical Highlights:

• Breakout from Downtrend Line: The stock recently broke through a key resistance level, confirming a bullish reversal.
• First Target Reached: As of February 5, 2025, Goliath Resources (GOT.V) hit its first target of $2.25, exceeding it with strong momentum.

Next Price Targets:

• Second Target: CA$4.10
• Third Target: CA$8.25
• Big Picture Target: CA$11.50

The updated chart, revised on February 5, 2025, illustrates the technical pattern, showing higher lows, a confirmed breakout, and strong volume supporting the move.

With growing momentum, increasing volume, and favorable technical indicators, Goliath Resources appears well-positioned for further upside.

Conclusion

Goliath Resources Limited is emerging as a leader among junior exploration companies, with strong backing from strategic investors, exceptional drilling success, and bullish stock performance. The company’s position in the Golden Triangle, a region known for hosting world-class gold discoveries, further enhances its investment appeal.

With continued drilling, potential new discoveries, and institutional interest, Goliath Resources is well on its way to unlocking significant shareholder value.

Investors should keep a close eye on the company’s progress as it advances its projects, with Surebet and Treasure Island poised to deliver more high-grade results in the months ahead.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Important Disclosures:

1. John Newell: I determined which companies would be included in this article based on my research and understanding of the sector.
2. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
3. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

( Companies Mentioned: GOT:TSX.V; GOTRF:OTCQB; B4IF;FSE, )

Source: https://www.streetwisereports.com/article/2025/02/06/a-golden-opportunity-continues-in-the-golden-triangle.html