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Pirate Gold Drilling Expands Large Alteration System at Crippleback Lake
Diamond drilling at Crippleback Lake has confirmed a large advanced argillic alteration system with features associated with high sulphidation epithermal and co
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Diamond drilling at Crippleback Lake has confirmed a large advanced argillic alteration system with features associated with high sulphidation epithermal and copper porphyry mineral systems Three holes completed to date have expanded alteration footprint defined in historic 2024 drilling The alteration system currently measures approximately 1,700 m in length, 700 m in width, and extends to depths exceeding 400 m vertically; remains open in multiple directions Alteration and sulphide mineralization closely correlate to the Electromagnetic Conductive anomaly Episode 10 of Pirate Gold Treasure Hunters now airing: https://youtu.be/e1_uGzdDJ8Q St. John's, Newfoundland and Labrador--(Newsfile Corp. - May 1, 2026) - Pirate Gold Corp. (TSXV: YARR) (OTCQB: SICNF) ("Pirate Gold" or the "Company"), is pleased to announce the confirmation of a large advanced argillic alteration zone at Crippleback Lake at its Treasure Island project. The Treasure Island project in Central Newfoundland covers over 90 km of strike along the Valentine Lake Fault Zone in Canada's newest gold district. Crippleback Lake Anomaly: Located in the southern portion of the Treasure Island project and hosted within the Crippleback intrusive suite (Figure 1), the Crippleback Lake anomaly spans 6.5 x 1.0km and forms an electromagnetic resistivity low (Figure 2). Drilling in 2024 along the margins of the anomaly identified broad zones of clay alteration exceeding 200 m in downhole length, with sulphide contents ranging from 1% to 8%. The clay alteration and pyrite are interpreted as the primary drivers of the geophysical anomaly. Alteration mineralogy identified to date includes kaolinite, montmorillonite, pyrophyllite and muscovite, along with vuggy silica textures. These alteration assemblages and textures are key indicators of high-level Epithermal and Copper-Porphyry mineral systems. The 2026 drilling program aims to further investigate the anomaly at depth and toward its core. Crippleback Lake Drilling Highlights: Three drill holes have been completed targeting the Crippleback Lake anomaly. Drilling continues to intersect extensive alteration zones across multiple lithologies, with consistent sulphide mineralization throughout. Below is a general summary of the drilled intervals and alteration sequences: PGC-26-058 targeted the alteration system from the south side of Crippleback Lake; this ho...