Pirate Gold drilling Crippleback Lake target at Treasure Island Project, Newfoundland
Pirate Gold Corp. [TSXV: YARR; OTCQB: SICNF] reported the start of drilling at the Crippleback Lake Target Zone within its district-scale Treasure Island Project in central Newfoundland, alongside the release of Episode 7 of the “Pirate Gold Treasure Hunters” series and a new technical presentation on Crippleback from VP Exploration Greg Matheson.
With drills turning at Moosehead following recent high-grade results and a new zone discovery, the company is now advancing a second front at Crippleback.
Crippleback is a distinct geological setting defined by a large, intensely altered zone identified through mapping, drilling, and geophysical surveys, alongside a significant concentration of gold, copper, and molybdenum surface mineralization, supporting the potential for a gold-copper porphyry-style system.
Denis Laviolette, Executive Chairman & CEO, commented: “With drilling underway at Moosehead delivering high-grade results, we’re now stepping into the next phase of the story at Crippleback. What stands out here is the scale and intensity of alteration across the system. Situated along the same structural corridor as Equinox Gold’s Valentine deposit, this is exactly the type of setting where large gold systems can develop. Our focus now is to connect the dots between high-grade veins and the broader system driving them.”
The company believes this dual-track approach, combining high-grade vein expansion at Moosehead with drilling at Crippleback, significantly enhances the discovery potential across the 78,600-hectare, 92-km strike Treasure Island Project.
Episode 7 of “Treasure Hunters” follows the next phase of the 2026 exploration campaign as the company expands beyond Moosehead and begins drilling at Crippleback. The episode features: The expansion from high-grade drilling at Moosehead into system-scale targeting at the Crippleback Target, marking the next step in unlocking the Treasure Island system; field mapping and geological observations highlighting a large, intensely altered zone with associated gold, copper, and molybdenum; initial drilling at Crippleback designed to test the source of the alteration system and better understand controls on mineralization; ongoing drilling at Moosehead continuing to define and expand high-grade vein-hosted gold mineralization and the evolving geological model across Treasure Island, linking high-grade veins to a potentially larger underlying mineralizing system
Alongside Episode 7 of “Treasure Hunters”, the company has released a detailed technical presentation led by VP Exploration Greg Matheson, outlining the geological model at Crippleback. The presentation highlights the potential for multiple deposit types, including orogenic gold, copper-gold porphyry, and epithermal systems – supported by large-scale alteration, strong geophysical anomalies, and widespread copper-molybdenum mineralization.
Drill hole PGC-26-058 has been initiated at Crippleback to follow-up on the strong alteration zone encountered in drilling from 2024. The hole is anticipated to extend to deeper depths than past drilling. The initial 55 metres of this hole has encountered strongly clay altered quartz monzonite with 5-8% pyrite mineralization.
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.