Pirate Gold Corp Expands Exploration Efforts at Treasure Island

Pirate Gold Corp (TSXV: YARR; OTCQB: SICNF) announced a series of significant exploration activities on 13 and 14 February 2026, focusing on its Treasure Island Project in central Newfoundland. The company is conducting project‑scale airborne geophysical surveys, expanding its drill program, and securing additional drilling permits and claims to accelerate the identification of new gold mineralization.

Airborne Geophysical Surveys

  • High‑resolution airborne magnetic survey: Initiated at Treasure Island North, covering approximately 69,500 ha with 50 m line spacing. The survey aims to penetrate glacial till and refine structural interpretation beneath the Valentine Lake Fault Zone.
  • Electromagnetic/magnetic airborne survey: Started at Treasure Island South, covering about 54,500 ha with 100 m line spacing. The program targets lithological contacts, fault networks, and alteration zones within the Crippleback Intrusive Suite (CIS).

Both surveys are designed to produce high‑resolution datasets that will identify new drill targets across the 90 km of strike that the Treasure Island Project spans.

Drill Program Expansion

  • 50,000 m drill program: Two active rigs are operating, targeting visible gold at Moosehead and other high‑potential zones.
  • Early visual mineralization at Moosehead: Recent drilling has intersected visible gold, confirming the presence of mineralized zones and prompting further exploration.
  • Additional drilling permits: Two permits have been received for the Stony Lake target zone (5 km south of Moosehead, Treasure Island North) and the Crippleback Lake region (Treasure Island South). These permits enable systematic testing of high‑priority regional targets along the Valentine Lake Fault Zone.

License and Claim Acquisitions

Pirate Gold has expanded its mineral license holdings by acquiring six additional claims in Treasure Island South, covering 150 ha. These acquisitions increase the company’s exploration footprint and provide a broader base for future drilling and geophysical work.

Market Context

  • Current share price: CAD 0.37 (closing on 12 February 2026).
  • 52‑week high/low: 0.39 / 0.02627.
  • Market capitalization: CAD 129,070,000.
  • Price‑earnings ratio: –31.58.

Pirate Gold’s recent activities demonstrate an accelerated exploration strategy aimed at uncovering new gold mineralization within its central Newfoundland operations. The company’s focus on high‑resolution geophysical surveys and expanded drilling initiatives positions it to refine target models and potentially identify additional economically viable deposits within the Treasure Island district.