Pirate Gold Corp (TSX-V:YARR, OTCQB:SICNF) has successfully connected two primary mineralized zones at its Treasure Island project following recent drilling in central Newfoundland.
Exploration results confirm the newly discovered Rib Vein structure bridges the Eastern and Western trends across a 200-meter strike length.
The connecting vein has been traced to a depth of 90 meters and remains open.
It is currently untested along strike past the intersections with the Eastern and Western trend faults.
This structural confirmation coincides with the discovery of the Caribou Fault located 150 meters west of the Western Trend Fault Zone.
Eight out of 19 shallow drill holes testing the Caribou Fault returned significant gold mineralization across a 400-meter strike.
Highlight hole PGC-26-100 on the Caribou structure intersected 2.88 grams per tonne (g/t) gold over 2.45 meters.
The parallel Caribou system shares geological characteristics with the main fault zones, exhibiting vein networks with massive and brecciated textures containing pyrite.
High-grade mineralization continues along established trends, with hole PGC-26-112 returning 30.6 g/t gold over 1.35 meters at approximately 20 meters vertical depth on the Eastern Trend.
This Eastern Trend intercept includes an enriched core grading 89.7 g/t gold over 0.40 meters.
Testing on the Western Trend yielded 4.25 g/t gold over 6.65 meters, confirming high gold grades across a 500-meter strike.
The wider Moosehead fault network spans over 1,500 meters of total strike length.
The broader Treasure Island project covers over 90 kilometers of strike along the regional Valentine Lake Fault Zone.
Alongside its exploration activities, the company has appointed ICP Securities to manage automated market-making services.
The financial services firm will use proprietary algorithms to address temporary supply-and-demand imbalances for an initial four-month term.