Pirate Gold (TSXV: YARR; OTCQB: YARRF), which controls a large land position along Newfoundland’s Valentine Lake Fault Zone, Canada’s newest gold district, has reported broad copper-gold mineralization from the first drill holes completed at the Moby Dick alteration zone within its Treasure Island project.
The company said the Treasure Island project covers more than 90 km of strike length along the Valentine Lake Fault Zone. The Moby Dick target forms part of the Crippleback Intrusive Suite.
Drilling has confirmed the alteration zone measures at least 3.1 km long, 850 metres wide and extends to a depth of 500 metres, with the full extent remaining open. Highlights included 0.38% copper equivalent over 112.4 metres, including 0.72% copper equivalent over 45.0 metres in hole PGC-26-058, and 0.54% copper equivalent over 180.8 metres, including 1.48% copper equivalent over 49.4 metres in hole PGC-26-068.
“Today marks a new dawn of discovery on Treasure Island,” said Denis Laviolette, executive chairman and CEO. “These preliminary drill results returned significant mineralization within both distal argillic and advanced argillic alteration, providing early confirmation of a robust hydrothermal system,” he added.
Pirate Gold said regional mapping and prospecting indicate potential for a copper-gold porphyry and epithermal system covering more than 32 km by 8 km. The company has identified more than 100 copper and gold occurrences across the Crippleback area, including 79 new copper occurrences near Moby Dick during a month-long prospecting program.
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.
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