Northwire Canada EditionWednesday, September 2, 2026
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GOLD 4396.40 −1.9% SILVER 65.37 −2.4% COPPER 6.53 −2.3% OIL 90.22 +5.2% PALLADIUM 1320.00 −4.2% LSTR 0.065 −7.1% ERO 48.38 −6.2% AAN 0.530 +1.9% EDDY 0.080 +0.0% TNGD 7.50 −1.1% WPM 201.40 −3.6% CAN 0.075 +0.0% CCM 0.630 +1.6% PGX 0.030 +0.0% ALGR 0.600 −4.8% SGN 0.355 +0.0% BTO 7.22 −5.0% LA 12.86 −3.3% LMG 0.470 +0.0% APN 0.015 +0.0% CYG 0.175 +2.9% GOLD 4396.40 −1.9% SILVER 65.37 −2.4% COPPER 6.53 −2.3% OIL 90.22 +5.2% PALLADIUM 1320.00 −4.2% LSTR 0.065 −7.1% ERO 48.38 −6.2% AAN 0.530 +1.9% EDDY 0.080 +0.0% TNGD 7.50 −1.1% WPM 201.40 −3.6% CAN 0.075 +0.0% CCM 0.630 +1.6% PGX 0.030 +0.0% ALGR 0.600 −4.8% SGN 0.355 +0.0% BTO 7.22 −5.0% LA 12.86 −3.3% LMG 0.470 +0.0% APN 0.015 +0.0% CYG 0.175 +2.9%
Drill Results Routine +

Pirate Gold Intersects 0.24% Cu Eq over 299.4m, Including 0.43% Cu Eq over 56.5m, at Moby Dick Discovery

Pirate’s Moby Dick step-out drill hole triples the intercepted width to 12.5 metres while halving the grade to 1.8 g/t gold.

By The Northwire Desk — AI Analysis Sep 02, 2026 · 06:31 YARR · 0.195 Pirate Gold Corp.
Executive Summary

Pirate Gold Corp. (YARR) has released assay results from the Moby Dick and regional holes at its Treasure Island Project in Newfoundland. Hole PGC-26-118, collared approximately 100 meters west of the discovery holes PGC-26-058 and PGC-26-068, returned 0.24% copper equivalent (CuEq) over 299.4 meters starting from 12.6 meters downhole. This interval includes 0.43% CuEq over 56.5 meters, which further contains 0.52% CuEq over 35.6 meters, alongside a separate 19.8-meter interval averaging 0.43% CuEq. Below a mafic dyke, PGC-26-118 re-entered mineralization with 0.23% CuEq over 72.7 meters, including 0.33% CuEq over 37.0 meters.

At Moby Dick East, hole PGC-26-088 returned only low-grade CuEq intervals but intersected 1.26% zinc over 21.6 meters and 0.52% zinc over 10.1 meters; no visible copper was logged in this hole. Meanwhile, PGC-26-074A at the Western EM anomaly returned a broad, very low-grade interval of 321.2 meters at 0.07% CuEq, plus narrow 0.7–1.0-meter higher-grade intervals up to 0.92% CuEq.

Assays are currently pending for 11 follow-up Moby Dick holes, with visible chalcopyrite logged in eight of them. The company also announced barge drilling beneath Crippleback Lake and an airborne MobileMT survey.

Material Impact

Pirate Gold Corp. (YARR) remains a grassroots explorer with no mineral resource, no reserve and no economic study. The Moby Dick project is still at the discovery/early step-out stage. The company is not a micro-cap: the presentation lists 507M shares outstanding, roughly C$101M market cap at the latest C$0.20 close, and cash of C$17M. That means the market is already paying substantial optionality for district-scale success.

This result does not materially improve grade or demonstrate a high-grade core. It confirms the system is large and low-grade, which is useful but not yet a valuation inflection. Price context: the stock spiked from about C$0.20 to C$0.26 on the original June 2026 Moby Dick discovery, but by September 2026 it has round-tripped back to C$0.20. The anchor result is therefore not strongly embedded in the current price.

Because the market has faded and the new hole is a 100m step-out with lower grade, this is not a major negative surprise.

YARR · Price
Company Overview

Pirate Gold Corp. (TSXV: YARR) is a Newfoundland-focused gold and copper explorer whose primary asset is the 100%-owned Treasure Island Project. This property covers over 90 km of strike along the Valentine Lake Fault Zone and features two main exploration themes: the high-grade Moosehead orogenic gold system and the Crippleback/Moby Dick copper-gold porphyry to high-sulphidation epithermal system. The company also holds the Fleur de Lys gold project portfolio.

According to an investor presentation, the company had 507 million shares outstanding and 561 million fully diluted shares, with C$17 million in cash. This financial position followed a C$26 million financing led by Eric Sprott, who holds approximately 22% of the company. No mineral resource, reserve, preliminary economic assessment, pre-feasibility study, or feasibility study is provided.

Read the original news release →

More from Pirate Gold Corp.

Aug 28, 2026 · 04:06

Pirate reports incremental high-grade Moosehead intersections while the new Caribou fault remains modest in width and grade.

Drill Results Aug 05, 2026 · 07:02

Pirate confirms district-scale copper-gold porphyry potential at Clipper Brook, located 12 km from the Moby Dick deposit.

Drill Results Jul 22, 2026 · 07:01

Pirate identified visual sulphides at Scurvy Fault, adding a new orogenic target to its portfolio without providing assay data or economic metrics.

Drill Results Jun 25, 2026 · 06:41

Pirate’s early-stage exploration extends the Moby Dick trend but lacks quantified grades to move the needle.

Drill Results Jun 17, 2026 · 19:50

Pirate’s Moby Dick discovery adds a copper-gold porphyry dimension to Newfoundland’s Treasure Island project.

Drill Results May 26, 2026 · 06:46

Moosehead keeps delivering high grades, but the market’s real focus is on Crippleback’s pending assays to decide if this is a multi-million-ounce system or just a string of narrow veins.

Drill Results