Automata Rare Earth (CSE:AREE) has highlighted copper–gold intersections reported by privately held Pirate Gold at the Moby Dick target, about 10km from Automata’s Burnt Pond Project in central Newfoundland, Canada.
Pirate Gold reported 180.8m @ 0.54% copper equivalent (CuEq), including 49.4m @ 1.48% CuEq, from hole PGC-26-068.
Hole PGC-26-058 returned 112.4m @ 0.38% CuEq, including 45m @ 0.72% CuEq. Automata says it has not independently verified the results.
Moby Dick lies within the Crippleback area of Pirate Gold’s Treasure Island Project, which covers more than 90km of the Valentine Lake fault zone.
Drilling has reportedly outlined an advanced argillic alteration system across about 3.1km by 850m and to a vertical depth of at least 500m. Pirate Gold says the system remains open beyond the limits of drilling completed to date.
Automata holds an option to acquire a 100% interest in Burnt Pond, which lies within the Tally Pond volcanic massive sulphide belt. The company considers the neighbouring results relevant to its assessment of the district’s structural and intrusive trends.
CEO Chris Huggins says Pirate Gold’s work could contribute regional geological, geophysical, and structural information to Automata’s exploration planning.
“While these results are from an adjacent property and should not be considered indicative of mineralisation at Burnt Pond, they demonstrate that the broader geological setting has the potential to host substantial mineralising systems,” he says.
The company notes Burnt Pond is prospective for copper, gold, silver, zinc, and lead and is accessible by existing roads.
Write to France Pinzon at Mining.com.au
Images: Automata Rare Earth
