Pirate Gold Expands Moosehead Discovery with 21.4g/t Au over 2.20m
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.
Pirate Gold’s May 26, 2026 release reports expansionary drill results from the Moosehead zone at its Treasure Island Project in Newfoundland. The Rib Vein structure has now been traced over 150 m strike and 90 m vertical depth, with new intercepts such as 6.97 g/t Au over 5.35 m (including 69.1 g/t Au over 0.45 m) and 21.0 g/t Au over 1.0 m. A Regional Discovery Zone 500 m southwest of Moosehead has grown to 200 m strike and returned 3.36 g/t Au over 3.60 m, while deep drilling at the Western Trend intersected 21.4 g/t Au over 2.20 m (including 91.1 g/t Au over 0.50 m) at a vertical depth of 140 m. The release underscores persistent high-grade mineralization across multiple structures and depths.
This follows a series of positive releases: the initial Moosehead high‑grade intercepts in February 2026 (up to 51.2 g/t Au), the discovery of the Rib Vein in April 2026 (65.1 g/t over 3.25 m), and ongoing drilling at both Moosehead and the Crippleback Lake alteration system. The company is fully financed for a 50,000 m program in 2026.
The May 26 results are incremental – they widen known zones and confirm continuity but do not break new ground. All grades are within the range already demonstrated; the Rib Vein’s expansion and the Regional Zone’s growth were expected after April’s discovery. The market’s muted reaction (stock price hovering around $0.21–0.24) suggests the news was already priced in or viewed as routine follow‑up. No new strategic investor, takeover, or resource estimate was announced. The pending game‑changer remains the Crippleback Lake assays – a completely different scale of target (large porphyry/epithermal system) that could materially re‑rate the company if high‑grade or economic copper‑gold mineralization is confirmed. For now, this release is a routine positive: it validates the exploration model and de‑risks the Moosehead vein system but does not change the overall investment thesis.
Pirate Gold Corp. is a junior gold explorer advancing the 100%‑owned Treasure Island Project in central Newfoundland. The project covers 92 km of strike along the Valentine Lake Fault Zone, the same structural corridor that hosts Equinox Gold’s 4 Moz Valentine Lake Mine and New Found Gold’s Queensway Project. Two main exploration themes drive the story: - Moosehead Zone – high‑grade orogenic veins with visible gold; the company has drilled over 650 holes and consistently delivered grades of 5–300 g/t Au over narrow to modest widths. - Crippleback Lake – a completely different target: a 1,700 m x 700 m advanced argillic alteration system with features indicative of a high‑sulphidation epithermal or copper‑porphyry system. Drilling is underway, with assays pending. The company’s strategy is to systematically expand Moosehead while testing the district‑scale potential at Crippleback. Management includes Denis Laviolette (Executive Chair/CEO) and Greg Matheson (VP Exploration, a QP with Newfoundland expertise).