Pirate Gold (TSXV: YARR; OTCQB: YARRF), which controls a large land position along the Valentine Lake Valentine Zone in Newfoundland, Canada’s newest gold zone, announced extensive copper and gold mineralization from the first drill holes completed in the Moby Dick Modification Zone within its Treasure Island Project.
The Treasure Island project covers more than 90 kilometers of strike length along the Lake Valentine fault zone, the company said. The Moby Dick target forms part of the Crippleback Intrusive Suite.
Drilling confirmed that the change zone is at least 3.1 kilometers long, 850 meters wide, and extends to a depth of 500 meters, with the entire extent remaining open. Highlights included 0.38% copper equivalent over 112.4 metres, including 0.72% copper equivalent over 45.0 meters in hole PGC-26-058, and 0.54% copper equivalent over 180.8 metres, including 1.48% copper equivalent over 49.4 meters in hole PGC-26-068.
“Today marks a new dawn for exploration on Treasure Island,” said Dennis Laviolette, CEO and CEO. “These initial drilling results have shown significant mineralization in both remote and advanced argillic metamorphisms, providing early confirmation of the presence of a robust hydrothermal system,” he added.
Pirate Gold said regional mapping and exploration indicate the potential for a copper-gold porphyry system and a geothermal system covering more than 32 kilometers by 8 kilometres. The company has identified more than 100 copper and gold sites across the Crippleback region, including 79 new copper sites near Moby Dick during a month-long exploration program.
The company’s primary focus is the 100% regionally owned Treasure Island gold project, along with a portfolio of gold projects, including the regional Fleur de Lys project.
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