Pirate Gold Initiates Project Scale Geophysical Surveys and Provides Project Updates

Core Insights - Pirate Gold Corp. has initiated two project-scale airborne geophysical surveys at its Treasure Island Project, which spans over 90 km along the Valentine Lake Fault Zone in Newfoundland, Canada's newest gold district [1][2]. Exploration and Drilling Updates - The exploration at the Treasure Island Project is progressing rapidly, with ongoing drilling at Moosehead revealing visible gold and new discoveries [2]. - The company has received drill permits for the Crippleback Lake and Stony Lake areas, allowing for exploration beyond the Moosehead footprint and targeting high-priority regional sites [2][18]. - A comprehensive understanding of the district-scale potential at Treasure Island is being developed, marking 2026 as a significant year for the company [2]. Geophysical Programs - High-resolution airborne magnetic surveys are being conducted at Treasure Island North and electromagnetic/magnetic surveys at Treasure Island South, covering approximately 69,500 hectares and 54,500 hectares respectively [6][7]. - The surveys aim to enhance structural interpretation beneath glacial till and generate new drill targets across the property [2][7]. Drilling Program Details - Two diamond drills are currently active at the Treasure Island Project, with a third expected to mobilize soon, focusing on expanding known mineralized zones and testing regional targets [8]. - Initial visual observations from drill holes indicate significant mineralization, including quartz veins and various sulfide minerals [10][9]. Mineral Claims and Agreements - The company has expanded its mineral licenses by acquiring six additional claims covering 150 hectares [17]. - An agreement has been made with Newfoundland Gold Retriever Corp. for a 100% interest in a mineral license, involving a cash payment and share issuance [17]. Media and Public Engagement - Episode 5 of "Pirate Gold Treasure Hunters" is currently airing, highlighting the ongoing drilling campaign and the discoveries made at the Moosehead site [14][15].