Pirate Gold Announces Initial High-Grade Results and Discovery of New Zone at Treasure Island Initial six drill holes along the Moosehead Eastern and Western trends confirm the high-grade nature of the vein structures, with five of six holes intersecting 5.6 - 51.2 g/t Au
Pirate Gold Announces Initial High-Grade
Results and Discovery of New Zone at
Treasure Island
Initial six drill holes
along the Moosehead Eastern and Western trends confirm the high-grade
nature of the vein structures, with five of six holes intersecting 5.6 - 51.2 g/t Au
Regional Geophysical Target
yields significant new zone with intervals of gold mineralization
along a 77 meter down hole length
Episode 6 of
Pirate Gold Treasure Hunters
now airing:
https://youtu.be/PB5bb8rB72s
St. John's, Newfoundland and Labrador--(Newsfile Corp. - February 27, 2026) -
Pirate Gold Corp.
(TSXV: YARR) (OTCQB: SICNF) ("Pirate Gold" or the "Company") is pleased to announce high-grade
gold results from the Moosehead Zone and the discovery of a new gold zone at its Treasure Island
Project in central Newfoundland. The Treasure Island project covers over 90 km of strike along the
Valentine Lake Fault Zone in Canada's newest gold district.
Moosehead Drilling Highlights:
Drill Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
PGC-25-001
23.75
24.10
0.35
20.47
PGC-25-002
46.00
46.45
0.45
42.48
PGC-25-004
66.40
71.50
5.10
2.84
Incl.
68.00
68.45
0.45
24.80
PGC-25-007
119.40
125.25
5.85
4.79
Incl.
119.40
119.90
0.50
51.20
Table 1 - Assay Highlights from Moosehead Zone
*Downhole intervals reported, true widths estimated to be 80-90% of reported intervals
Regional Geophysical Drillhole Highlights:
Drill Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
PGC-25-006
43.40
51.50
8.10
1.14
Incl.
45.65
46.40
0.75
4.20
PGC-25-006
62.30
63.30
1.00
1.72
PGC-25-006
75.75
76.95
1.20
2.13
PGC-25-006
82.60
83.45
0.85
1.49
PGC-25-006
96.50
97.15
0.65
1.42
PGC-25-006
119.85
120.85
1.00
2.27
Table 2 - Assay Highlights from Regional Geophysical Targets
*Downhole intervals reported, true widths are unknown at this time
"This is a great start for the first eight drill holes of the program and it's good to see gold in the box this
early. Hole PGC-25-006 is important, as it suggests Moosehead may be part of a broader mineralized
system rather than an isolated zone. We are still in the early stages, but the combination of high-grade
intercepts and new zone discovery gives us real confidence in the scale potential at Treasure Island.
In exploration, sometimes you intersect broad zones and sometimes you intersect narrow high-grade
veins that point you toward something much larger. Both are important, and these first holes confirm
we have a gold-bearing system and a structural model that is working. We are excited about what the
coming weeks and months of drilling may deliver," said Denis Laviolette, Executive Chairman &
CEO.
Greg Matheson, VP Exploration, added:
"Step-out drilling along the Moosehead Eastern and Western trends has yielded strong high-grade
assay results as we continue to expand the footprint of these sub-parallel structures. Five of the first
six holes reported from Moosehead intersected high-grade gold, confirming both the strength and
continuity of the system. These intercepts remain relatively shallow for an orogenic gold environment,
and we see significant room for growth along both fault structures. The announcement last week of a
newly discovered vein linking the Eastern and Western trends is important and adds a new element to
the potential for additional new zones as the drilling continues.
"While much of the drilling to date has focused on expanding the known Moosehead trends, we
believe the broader opportunity lies in testing near-surface geophysical targets across the property.
We're truly excited by the success in drill hole PGC-25-006 and plan to not only further define this new
zone but continue the hunt for additional new discoveries. With more than 50 kilometres of
comparable geology and structural setting across Treasure Island North, we believe we are only
beginning to unlock the district-scale potential of this system."
Fig. 1 - Moosehead Zone Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/285609_829c944b24f7ead5_001full.jpg
Drilling
Program:
PGC-25-001,002
targeted a previously untested segment of the Moosehead Eastern trend fault, both
holes intersected the structural zone at shallow depths and reported high gold assay grades from
stylolitic veins including 20.47g/t Au over 0.35m in PGC-25-001 and 42.48g/t Au over 0.45m in PGC-25-
002.
PGC-25-003,004,005,007
targeted the depth extension of the Moosehead Western trend and all four
holes intersected the fault system at shallow depths from 45 to 80m vertically. Drill hole PGC-25-004
reported 2.84g/t Au over 5.10m including high grades from a stylolitic vein including 24.80g/t Au over
0.45m. The deepest hole testing the Western Trend PGC-25-007 intersected 4.79g/t Au over 5.85m
including high grade results from a stylolitic vein assaying 51.20g/t Au over 0.5m.
PGC-25-006
targeted a disruption in the magnetic signature of a mafic dyke believed to represent a
fault structure or hydrothermal alteration. The drill hole successfully intersected intermittent zones of high
sulphide mineralization associated with quartz veining within and surrounding the mafic dyke from 14m
to 120m downhole. Six intervals of mineralization assayed above 1g/t Au including a broader interval of
1.14g/t Au over 8.10m including higher grades of
4.20g/ Au over 0.75m. This represents a new discovery and remains wide open as additional follow up
drilling is underway.
Fig. 2 - Map Showing the Moosehead Mineralized Zones, Structural Corridor, Interpreted Faults
and Regional Geophysical Drill Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/285609_829c944b24f7ead5_002full.jpg
Drill Hole
Easting
Northing
Azimuth
Dip
Length (m)
PGC-25-001
613829
5428281
347
-50
122
PGC-25-002
613856
5428278
315
-50
86
PGC-25-003
613685
5428515
226
-59
152
PGC-25-004
613667
5428481
243
-48
92
PGC-25-005
613721
5428507
230
-45
158
PGC-25-006
612947
5427681
240
-45
203
PGC-25-007
613721
5428508
237
-54
149
PGC-25-008
612440
5427550
240
-45
185
Table 3 - Drill Hole Information for PGC-25-001 through PCG-25-008
Drill Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
PGC-25-001
23.75
24.10
0.35
20.47
PGC-25-002
46.00
46.45
0.45
42.48
PGC-25-003
85.00
85.65
0.65
4.69
PGC-25-004
47.00
47.65
0.65
5.62
PGC-25-004
66.40
71.50
5.10
2.84
Incl.
68.00
68.45
0.45
24.80
PGC-25-005
111.40
120.90
9.50
0.78
Incl.
111.40
113.15
1.75
1.92
120.30
120.90
0.60
2.52
PGC-25-006
43.40
51.50
8.10
1.14
Incl.
45.65
46.40
0.75
4.20
PGC-25-006
62.30
63.30
1.00
1.72
PGC-25-006
75.75
76.95
1.20
2.13
PGC-25-006
82.60
83.45
0.85
1.49
PGC-25-006
96.50
97.15
0.65
1.42
PGC-25-006
119.85
120.85
1.00
2.27
PGC-25-007
119.40
125.25
5.85
4.79
Incl.
119.40
119.90
0.50
51.20
PGC-25-008
NSR
Table 4 - Significant Assays Intervals from PGC-25-001 through PCG-25-008
Pirate Gold Treasure Hunters Season 1 Episode 6
Episode 6 of Pirate Gold Treasure Hunters breaks down the first eight drill holes of the 2026 campaign
and what they mean for the growing Treasure Island story. The episode features:
Initial assays from eight holes, including six at Moosehead, with five of six returning high-grade
gold along the Eastern and Western trends
Confirmation that high-grade mineralization is concentrated within stylolitic veins inside broader 3-
5 metre structural arrays, refining the Company's evolving 3D geological model
A regional discovery hole (PGC-25-006) drilled 500 metres southwest of Moosehead, intersecting
multiple gold intervals across a ~75 metre downhole corridor
Ongoing shallow expansion drilling at Moosehead, including planned systematic testing of a ~300
metre structural gap between known mineralized zones
Advancement of additional district-scale targets across 50-60 kilometres of prospective strike
length, including newly permitted areas at Stony Lake
Cannot view this video?
Visit:
https://www.youtube.com/watch?v=PB5bb8rB72s
Qualified Person
Greg Matheson, P.Geo., VP Exploration for Pirate Gold, a "Qualified Person" under National Instrument
43-101, has reviewed and approved the scientific and technical information in this press release.
About Pirate Gold Corp.
Pirate Gold Corp. is led by an experienced management team and is the dominant explorer along the
Valentine Lake Fault Zone in Newfoundland, Canada's newest gold district. The Company's primary
focus is its 100% owned district-scale Treasure Island Gold Project, along with a portfolio of gold
projects, including the district-scale Fleur de Lys Project.
For more information, please contact:
Denis Laviolette, Executive Chairman, CEO & Director
E
:
Cathy Hume, VP Corporate Development & Director
T:
416-868-1079 x 251
E:
Website:
www.pirategold.ca
:
@PirateGoldCorp
:
@PirateGoldCorp
LinkedIn:
@PirateGoldCorp
QAQC Statement
Diamond drill holes are HQ size and are processed at the Company's secure core logging facility in
Grand Falls-Windsor, NL by qualified geologists and technicians. Drill core samples are sawn in half and
submitted to ALS Canada Ltd. ("ALS"), Thunder Bay, ON for gold determination by PhotonAssay™
method and Vancouver, BC for multi-element analysis.
Drill core samples analyzed at ALS are submitted under prep codes LOG-21, CRU-31 and SPL-32a.
ALS performs Au-PA02 analysis on all samples. Any sample received with an Au-PA02 value greater
than 0.8 ppm undergoes Au-PA02e. Results of Au-PA02e use a weighted average for final assay
determination.
The Company inserts quality control (QC) samples at regular intervals, including blanks, reference
materials and field duplicates to monitor the performance of the laboratory. Additionally, Pirate Gold
Corp conducts check assays at a third-party facility which is independent of ALS Canada Ltd.
Acknowledgment
Pirate Gold acknowledges the financial support of the Junior Exploration Assistance Program,
Department of Natural Resources, Government of Newfoundland and Labrador.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Investors are cautioned that trading in the securities of the Company should be considered highly
speculative. This news release contains "forward-looking statements" within the meaning of the
applicable Canadian securities legislation that are based on expectations, estimates, assumptions,
geological theories, and projections as at the date of this news release. The information in this news
release about any information herein that is not a historical fact may be "forward-looking statements."
Actual results may differ materially. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or
performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled",
"believed" or "intends" or variations of such words and phrases or stating that certain actions, events
or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) including
statements regarding the Company's plans with respect to the Company's projects and the timing
related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies,
and other matters are not statements of historical fact and may be forward-looking statements and are
intended to identify forward-looking statements. Factors that may cause results to vary include delays
in obtaining necessary approvals, changes in the market for the Company's securities, results of
exploration, loss of title to properties, delays in obtaining permits or access to mineral properties,
including as a result of adverse weather, fire or flood, changes to the Tax Act, rejection of expenditures
as Qualifying Expenditures, and factors included in the documents filed from time to time with the
Canadian securities regulatory authorities by Pirate Gold Corp. Pirate Gold Corp. will not update these
forward-looking statements to reflect events or circumstances after the date hereof, except as required
by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/285609