Pirate Gold Continues Its Regional Consolidation of the Treasure Island Project and Provides Drilling Update Expanded Treasure Island to over 90km of strike length through the acquisition of 113 additional mineral claims along the Valentine Lake Fault Zone
Pirate Gold Continues Its Regional
Consolidation of the Treasure Island Project
and Provides Drilling Update
Expanded Treasure Island to over 90km of strike length
through the acquisition of 113
additional mineral claims along the Valentine Lake Fault Zone
Advanced the 50,000m drill program
with two active rigs, early visual mineralization at
Moosehead, and initial testing of regional geophysical targets
Episode 2 of
Pirate Gold Treasure Hunters
now airing:
https://youtu.be/JCqFsiE_9Eo
St. John's, Newfoundland and Labrador--(Newsfile Corp. - December 19, 2025) -
Pirate Gold Corp.
(TSXV: YARR) (OTCQB: SICNF) ("Pirate Gold" or the "Company") is pleased to announce that it has
added an additional 113 mineral claims to its wholly owned Treasure Island Project in central
Newfoundland. The Treasure Island Project now covers over 90km of strike along the Valentine Lake
Fault Zone in Canada's newest gold district.
Drilling Program Update
Two diamond drills are currently active at the Treasure Island Project with a third drill anticipated to
mobilize in early 2026
One drill is focused on the expansion of the Moosehead Eastern and Western trends and has
completed six holes to date
The second drill rig is conducting regional exploration drilling localized within several kilometres of
the Moosehead Zone and has completed two holes to date
Initial visual observations from completed drill holes are summarized below:
Drill Hole
Target
Visual Observations
PGC-25-001
Moosehead
Eastern
Trend
Intersected the Eastern Trend structural zone from 15 to 24m including a 15cm stylolitic quartz vein at 24m depth,
mineralization consists of arsenopyrite, boulangerite, sphalerite and visible gold
PGC-25-002
Moosehead
Eastern
Trend
Intersected the Eastern Trend structural zone from 26m to 34m followed by a second structural zone from 45.5-46.5m
which included a 20cm stylolitic quartz vein, mineralization consists of arsenopyrite, sphalerite and visible gold
PGC-25-003
Moosehead
Western
Trend
Intersected the Western Trend structural zone with structural intervals from 80m to 85m and 102 to 105m including
stylolitic veins up to 10cm, mineralization consists of arsenopyrite, boulangerite and sphalerite
PGC-25-004
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 65m to 69.5m including a 300cm brecciated and stylolitic quartz
veined zone. Mineralization consists of arsenopyrite, boulangerite, sphalerite and visible gold
PGC-25-005
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 110m to 124m including quartz veins ranging in size from 5 to
140cm. Mineralization consists of arsenopyrite, boulangerite, sphalerite and visible gold
PGC-25-006
Regional
Geophysical
Target
Between 14 and 120m downhole depth intersected intermittent zones of high sulphide mineralization associated with
quartz veins and alteration of the surrounding host rock. Mineralization consists of arsenopyrite and pyrite
PGC-25-007
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 116.2m to 120m including a stylolitic quartz vein from 119.3 to
120m. Mineralization consists of arsenopyrite, boulangerite, chalcopyrite, sphalerite and visible gold
PGC-25-008
Regional
Geophysical
Target
Intersected mostly sandstone and minor segments of mafic dyke. No significant mineralization was encountered
Table 1 - Visual Observations of Drill Core from Hole PGC-25-001 through PGC-25-008
The Company cautions that the presence of visible gold mineralization is not indicative of high gold
assay grades and that drill core samples will or have been submitted to a certified laboratory for analysis
of gold content. Assay values for the discussed intervals will be released when available. All intervals are
downhole depths, and true widths are not known at this time.
Drill Hole
Easting
Northing
Azimuth
Dip
Length (m)
PGC-25-001
613829
5428281
347
-50
110
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
613722
5428508
230
-45
158
PGC-25-006
612947
5427681
240
-45
203
PGC-25-007
613722
5428508
237
-54
149
PGC-25-008
612440
5427550
240
-45
178
Table 2 - Drill Hole Information for PGC-25-001 through PGC-25-008
Fig. 1 - Map Showing the Moosehead Mineralized Zones, Structural Corridor, Interpreted
Faults and Regional Structural Drill Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/278665_b3d4f04d5425a9b9_001full.jpg
Pirate Gold Treasure Hunters - Episode 2: Drilling Underway at Treasure Island
Episode 2 of
Pirate Gold Treasure Hunters
provides shareholders with a behind-the-scenes look at the
early stages of the drilling campaign and features:
Visual updates from the first drill holes at Moosehead
Initial drilling insights from regional geophysical targets
An overview of the expanding exploration team and regional strategy
Cannot view this video?
Visit:
https://www.youtube.com/watch?v=JCqFsiE_9Eo
Viewers are encouraged to join the hunt by subscribing to the Pirate Gold YouTube channel:
https://www.youtube.com/@PirateGoldCorp
Drill Core Featured in the Pirate Gold Treasure Hunters Video Series
Fig. 2 - Image of Drill core from PGC-25-005 Showing Veined Zone in the Moosehead Western
Trend
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/278665_b3d4f04d5425a9b9_002full.jpg
Fig. 3 - Image of Drill core from PGC-25-006 Showing Segment of the Veined Zone at the
Regional Target
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/278665_b3d4f04d5425a9b9_003full.jpg
Fig. 4 - Image of Drill core from PGC-25-007 Showing Veined Zone in the Moosehead Western
Trend
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/278665_b3d4f04d5425a9b9_004full.jpg
Mineral Claims Addition
Three separate mineral license purchase agreements have been executed to acquire 77 mineral
claims covering 1,925 hectares
Recent staking has added an additional 36 mineral claims covering 900 hectares
"The consolidation of a fragmented mineral tenure along the Valentine Lake Fault corridor has
been one the key first steps for the company to build value in this district. Starting with its
advanced-stage Moosehead Project the company has grown its exploration focus to cover over
90km of strike length along the prospective fault corridor. Today's announcement continues to
build that regional scale project.
"The initial focus of our 50,000m drilling program has been to explore both within and around the
immediate vicinity of the Moosehead Zone looking for other similar gold bearing structures. Our
exploration ethos has been that Moosehead shouldn't be a singular high-grade structure and that it
fits into a larger mineral system as seen in other orogenic gold deposits. Our acquisition of the
Stony Lake project south of Moosehead in October includes historical drilling results up to *1.88g/t
Au over 27.35m and 1.52g/t over 31.75m located just 5 km south of the Moosehead fault structure
which indicates there is much more to learn about the gold mineralization in this part of the
Treasure Island Project," said Greg Matheson, VP Exploration of Pirate Gold.
* The Qualified Person has not done sufficient work to verify the drilling results published by K9 Gold Corp. K9 Gold Corp, Oct 18, 2022, K9 Gold
Confirms Continuity of Gold Mineralization; Intersects 1.52g/t Gold over 31.75m at Stony Lake.
https://www.sedarplus.ca/csa-
party/records/document.html?id=160f518a52577fa127426f087fcb5548cc5b2a969a3e5ee1213bc90d5797c71f
Fig. 5 - Map Showing the Consolidated Mineral Licenses and Newly Acquired Claims of the
Treasure Island Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/278665_b3d4f04d5425a9b9_005full.jpg
Pirate Gold has entered into an agreement with Paradigm Minerals, Ian Farrell ("Farrell"), Rebecca
Heathcote ("Heathcote") and Katie Lewis ("Lewis") to acquire a 100% interest in and to four mineral
licences. In consideration the Company will, subject to TSX Venture Exchange ("TSXV") approval, make
a one-time cash payment of $400 to Farrell, $2,000 to Heathcote, $9,960 to Lewis and issue 20,000
common shares to Farrell, 50,000 common shares to Heathcote, 230,000 common shares to Lewis, and
grant a 1.5% NSR royalty to Lewis, one half of which Pirate Gold can purchase for $1,000,000.
The Company has also entered in an agreement with Kevin Keats and 91112 Newfoundland and
Labrador Inc. ("91112") to acquire a 100% interest in and to one mineral license. In consideration the
Company will, subject to TSXV approval, make a one-time cash payment of $10,000 and issue 250,000
common shares, and grant a 1.0% NSR royalty, one half of which Pirate Gold can purchase for
$1,000,000.
The Company has entered in an agreement with Brian Jones ("Jones") and Gary Rowsell ("Rowsell") to
acquire a 100% interest in and to one mineral license. In consideration the Company will, subject to
TSXV approval, make a one-time cash payment of $2,500 to Jones, $2,500 to Rowsell and issue
50,000 common shares to Jones, 50,000 common shares to Rowsell, and grant a 1.0% NSR royalty
allocated 50% to Jones and 50% to Rowsell, one half of which Pirate Gold can purchase for $1,000,000.
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. (TSXV: YARR) (OTCQB: SICNF) 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
YouTube
:
@PirateGoldCorp
:
@PirateGoldCorp
:
@PirateGoldCorp
LinkedIn:
@PirateGoldCorp
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.
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https://www.newsfilecorp.com/release/278665