Pirate Gold Initiates Project Scale Geophysical Surveys and Provides Project Updates Initiated project scale geophysical surveys - High resolution airborne magnetic survey initiated at Treasure Island North, Airborne electromagnetic/magnetic survey initiated at Treasure Island
Pirate Gold Initiates Project Scale Geophysical
Surveys and Provides Project Updates
Initiated project scale geophysical surveys -
High resolution airborne magnetic survey initiated
at Treasure Island North, Airborne electromagnetic/magnetic survey initiated at Treasure Island
South
Advanced the 50,000m drill program
with two active rigs, early visual mineralization at
Moosehead, and initial testing of regional geophysical targets
Receives two additional drilling permits
for the Stony Lake target zone located 5km south of
Moosehead at Treasure Island North and Crippleback Lake region at Treasure Island South
Continued expansion of mineral licenses
with acquisition of six additional claims in Treasure
Island South covering 150 hectares
Episode 5 of
Pirate Gold Treasure Hunters
now airing:
https://youtu.be/werslXKZ6rs
St. John's, Newfoundland and Labrador--(Newsfile Corp. - February 13, 2026) -
Pirate Gold Corp.
(TSXV: YARR) (OTCQB: SICNF) ("Pirate Gold" or the "Company"), is pleased to announce that it has
initiated two simultaneous project scale airborne geophysical surveys 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.
"Exploration is moving quickly on all fronts at the Treasure Island Project in 2026. Our drilling
program at Moosehead continues to expand the known mineralized zones, with multiple holes
intersecting visible gold and yielding new discoveries. Two project-scale airborne surveys are now
underway, bringing enhanced geophysical resolution to Treasure Island. These surveys are
designed to refine structural interpretation beneath the glacial till and generate new drill targets
across the broader property."
"Additionally, the receipt of drill permits for both the Crippleback Lake and Stony Lake areas allows
us to extend exploration beyond the immediate Moosehead footprint and systematically test high-
priority regional targets along the Valentine Lake Fault Zone. We are advancing a comprehensive
understanding of the district-scale potential at Treasure Island, and 2026 represents an important
step forward for Pirate Gold,"
said Greg Matheson, VP Exploration, Pirate Gold.
Geophysical Programs
Treasure Island North
Treasure Island North is underlain by weakly magnetic sedimentary sequences intruded by mafic
dykes and volcanic units that generate strong magnetic responses in prior surveys
A high-resolution airborne magnetic survey is underway on 50m line spacing, covering
approximately 69,500 hectares
Low-altitude, tight-spaced flight lines are designed to penetrate glacial till and generate a detailed
magnetic dataset
The strong contrast in bedrock magnetic properties and interpreted fault-related disturbances is
expected to refine structural interpretation and enhance drill targeting
Treasure Island South
Treasure Island South is dominated by the Crippleback Intrusive Suite ("CIS") comprised of quartz
monzonite, gabbro and felsic volcanics which show strong magnetic contrasts based on localized
historical survey results
Large scale graphite bearing fault structures are present throughout the CIS and show very strong
electromagnetic chargeability responses
2024 drilling identified broad clay alteration zones correlated with weak conductive signatures in
historical EM data
An electromagnetic/magnetic airborne survey is being flown along 100m line spacing covering
approximately 54,500 hectares
The survey is expected to improve mapping of lithological contacts, fault networks and alteration
zones to support regional drill targeting
Fig. 1 - Map Showing the Approximate Areas to be Covered by the High-Resolution Magnetic
Survey and Electromagnetic/Magnetic Survey
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/283828_f3494c4d64ada901_001full.jpg
Drilling Program Update
Two diamond drills are currently active at the Treasure Island Project with a third drill anticipated to
mobilize in 1-2 weeks
Since the previous drilling update on Dec 18, 2025, two drills have been active at the Treasure
Island North project focused on the expansion of the known mineralized zones at Moosehead and
testing of regional geophysical targets
Initial visual observations from recently completed drill holes are summarized below:
Drill Hole
Target
Visual Observations
PGC-25-009
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 121.3 to 125.3m including a 20cm stylolitic quartz
vein at 124.2m depth, mineralization consists of arsenopyrite and pyrite.
PGC-25-010
Regional
Geophysical Target
Intersected mafic dyke from 27 to 58m associated with minor faulting, mafic dyke from 108 to 110m with
fractured contact and pyrite mineralization, additional pyrite mineralization from 201 to 203m.
PGC-25-011
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 99.0 to 102.4m including several quartz veins up to
40cm in width, mineralization consists of arsenopyrite, boulangerite, pyrite and visible gold.
PGC-25-012
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 125.6 to 128.0m including quartz vein up to 15cm,
mineralization consists of arsenopyrite, boulangerite, pyrite and visible gold.
PGC-25-013
Moosehead
Western
Trend Northern Ext
Intersected interpreted extension of western trend structural zone with intermittent faulting between 20 to
45m including several altered mafic dykes, localized pyrite mineralization from 20.0 to 21.5m.
PGC-25-014
Regional
Geophysical Target
Dominated by sandstone and siltstone; intersected a moderate deformation zone from 158 to 181m with
local gouge faults; additional faulting from 233 to 242.5m.
PGC-26-015
Moosehead
Eastern
Trend Northern Ext
Intersected interpreted extension of eastern trend structural zone with intermittent faulting between 125 to
132 m, numerous intervals of mafic dykes from 15m to 204m with localized pyrite mineralization.
PGC-26-016
Regional
Geophysical Target
Fine grained sedimentary units until 87m before entering conglomerate to 95m and mafic volcanic and
intrusive units through 332m. Strong fault zone intersected from 196 to 198.5m. Intermittent pyrite
mineralization throughout the volcanic units with arsenopyrite and pyrite from 137.8 to 138.3m.
PGC-26-017
Moosehead
Eastern
Trend Northern Ext
Predominantly sandstone intersecting mafic dyke from 80 to 84.5m with arsenopyrite and pyrite
mineralization along the upper margins, fault zone and mafic dyke intersected from 117.3 to 125.0m with
localized pyrite mineralization interpreted Eastern Trend extension.
PGC-26-018
Moosehead
Eastern
Trend Northern Ext
Intersected fault zones at 21, 25.4, 39.2, 50.6m downhole with 25cm brecciated quartz vein at 54.05m.
PGC-26-019
Regional
Geophysical Target
Mafic intrusive and volcanic units throughout drill hole. Strong faults noted at 57, 80, 93, 112.6, 207,
209m downhole; locally pyrite mineralization in volcanic units.
PGC-26-020
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 99.5 to 101.2m including several quartz veins up to
20cm in width, mineralization consists of boulangerite, pyrite.
PGC-26-021
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 117.4 to 120.1m including several quartz veins up to
40cm in width, mineralization consists of boulangerite, pyrite.
PGC-26-022
Regional
Geophysical Target
Deformation zone from 26 to 43m downhole; localized pyrite mineralization associated with altered
mafic dykes.
PGC-26-023
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 73.0 to 76.8m including quartz veins up to 180cm in
width, mineralization consists of sphalerite, boulangerite, pyrite, and visible gold.
PGC-26-024
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 133.0 to 138.3m mostly consists of quartz fractures and
faulting mineralization consists of sphalerite and pyrite.
PGC-26-025
Moosehead
Eastern
Trend Southern Ext
Intersected the Eastern Trend structural zone from 75.0 to 99.0m mostly consists of quartz fractures and
minor faulting mineralization consists of sphalerite and pyrite.
PGC-26-026
Moosehead
Western
Trend
Intersected the Western Trend structural zone from 146.0 to 167m including quartz veined zone from
146.9m to 149.9; mineralization consists of pyrite, boulangerite and visible gold. An additional quartz
veined zone from 161.2 to162.5m; mineralization consists of pyrite, sphalerite, boulangerite and visible
gold.
PGC-26-027
Moosehead
Eastern
Trend Southern Ext
Intersected the Eastern Trend structural zone from 92.0 to 121.0m mostly consists of quartz fractures and
minor faulting mineralization consists of pyrite and boulangerite. Quartz veined zone from 151.7 to
153.3, mineralization consists of pyrite and sphalerite.
PGC-26-028
Moosehead
Western
Trend
Intersected new unnamed vein zone from 48.2 to 51.6m with individual stylolitic veins up to 30cm;
mineralization consists of pyrite, boulangerite, chalcopyrite and visible gold. Intersected the Western
Trend structural zone from 109.0 to 111.1m consists of quartz fracturing, mineralization includes pyrite.
PGC-26-029
Moosehead
Eastern
Trend Southern Ext
Drilling stopped before reaching target.
PGC-26-031
Moosehead
Unnamed Vein
Zone
Intersected new unnamed vein zone from 52.8 to 55.1m seen in PGC-26-028 with individual stylolitic
veins up to 25cm; mineralization consists of pyrite, boulangerite, chalcopyrite and visible gold.
PGC-26-032
Moosehead
Unnamed Vein
Zone
Intersected new unnamed vein zone from 73.7 to 74.3m seen in PGC-26-028 with quartz vein to 10cm;
mineralization consists of pyrite and boulangerite. Intersected the Western Trend structural zone from
126.6 to 129.4m with veins up to 40cm, mineralization consists of pyrite, boulangerite and visible gold.
PGC-26-033
Moosehead
Unnamed Vein
Zone
Intersected new unnamed vein zone from 41.0 to 46.8m seen in PGC-26-028 with individual veins up to
30cm; mineralization consists of pyrite, arsenopyrite, boulangerite and visible gold.
Table 1 - Visual Observations of Drill Core from Hole PGC-25-009 through PGC-26-029 and
Hole PGC-26-031 through PGC-26-033
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-25-009
613745
5428511
230
-45
149
PGC-25-010
614306
5429058
210
-45
221
PGC-25-011
613729
5428490
230
-45
170
PGC-25-012
613730
5428489
220
-51
134
PGC-25-013
613482
5428694
225
-45
221
PGC-25-014
612883
5428558
255
-45
326
PGC-26-015
613731
5428839
215
-45
242
PGC-26-016
615479
5430029
270
-45
332
PGC-26-017
613713
5429252
250
-45
179
PGC-26-018
613698
5428939
260
-45
140
PGC-26-019
615267
5429888
90
-45
314
PGC-26-020
613719
5428452
222
-45
131
PGC-26-021
613734
5428471
225
-45
158
PGC-26-022
615166
5429247
60
-45
254
PGC-26-023
613713
5428472
227
46
122
PGC-26-024
613740
5428564
235
50
182
PGC-26-025
613923
5428310
285
45
128
PGC-26-026
613771
5428546
235
-50
188
PGC-26-027
613934
5428266
285
-45
170
PGC-26-028
613759
5428438
230
45
134
PGC-26-029
613925
5428232
285
45
53
PGC-26-031
613759
5428439
242
-57
101
PGC-26-032
613771
5428463
230
-51
209
PGC-26-033
613737
5428437
230
45
65
Table 2 - Drill Hole Information for PGC-25-009 through PGC-26-029 and Hole PGC-26-031
through PGC-26-033
Fig. 2 - 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/6079/283828_f3494c4d64ada901_002full.jpg
Pirate Gold Treasure Hunters Season 1 Episode 5 - Shots Fired
Episode 5 of
Pirate Gold Treasure Hunters
captures a turning point in the 2026 drill campaign,
underscoring the persistence required in orogenic gold systems and the breakthroughs that follow. The
episode features:
Ongoing diamond drilling across regional targets and the launch of two high-resolution airborne
magnetic and electromagnetic surveys
Step out drilling on the Moosehead Western Trend intersecting a new system, including visible
gold in multiple holes
Identification of a potential linkage structure between the Moosehead Eastern and Western
Trends, expanding the target corridor along strike and at depth
Receipt of drill permits for Crippleback, located along the same regional structure as Moosehead
and the Valentine Lake Mine
Cannot view this video?
Visit:
https://www.youtube.com/watch?v=werslXKZ6rs
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. 3 - Image of Drill Core from PGC-26-028 Showing Unnamed Newly Discovered Vein at
Moosehead Located Between the Western and Eastern Trend Structures
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/283828_f3494c4d64ada901_003full.jpg
Mineral Claims Addition
One additional mineral license purchase agreement has been executed to acquire 6 mineral
claims covering 150 hectares
Pirate Gold has entered into an agreement with Newfoundland Gold Retriever Corp. ("NGRC"), to
acquire a 100% interest in and to one mineral licence. In consideration the Company will, subject to TSX
Venture Exchange ("TSXV") approval, make a one-time cash payment of $7,500 to NGRC and issue
150,000 common shares and grant a 1.0% NSR royalty, one-half of which may be repurchased by Pirate
Gold for $500,000.
Drilling Permit Updates
On February 10
th
, the Company received an exploration approval for the Crippleback Lake area which
under the Company is permitted to drill up to 50 holes. The Company anticipates the initial phase of the
Crippleback Lake drilling program to start in late February with plans to follow up on its 2024 drilling
program which outlined large areas of clay alteration and broad zones of copper-gold mineralization.
Also on February 10
th
, the Company received an exploration approval for the Stony Lake area, 5 km
south of Moosehead under which the Company is permitted to drill up to 40 holes. The Company
anticipates it will begin drill testing the Stony Lake targets in Q1 2026.
Advertising & Sponsorship Agreement
The Company has entered into a one-year advertising and sponsorship agreement dated February 12,
2026, with Allan Barry Laboucan (Rocks & Stocks News), an independent media content creator.
Pursuant to the agreement, the Company will pay total cash consideration of $160,000, for a one-year
term. The engagement is for advertising, branding and independent media coverage purposes only and
does not constitute investor relations or market-making services. The Company does not have editorial
control over content produced by the contractor. The agreement may be terminated in accordance with
its terms. The contractor is arm's length to the Company.
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
:
@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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/283828