Contango Silver & Gold Inc. (NYSE American / TSX: CTGO) announced initial assay results from its 2026 surface diamond drilling program at the Lucky Shot Project in Alaska on September 2, 2026. The company reported significant high-grade gold intersections from the Coleman vein system, including a 2.45-meter interval grading 86.05 grams per tonne (g/t) gold.
The highest-grade intercept, hole LSS26016, returned 2.45 meters grading 86.05 g/t Au from the Coleman 3 vein extension, which included a 0.80-meter interval grading 244.30 g/t Au and a 0.30-meter interval grading 49.96 g/t Au. Other notable results include hole LSS26003, which returned 0.50 meters grading 81.57 g/t Au from the Coleman 1 Vein. The company noted that five of the seven holes reported visible gold.
The 2026 surface drilling program, which commenced on June 22, 2026, is planned to total approximately 6,000 meters. As of August 27, 2026, the company had completed approximately 5,700 meters in 27 drill holes from five drill pads. The program is designed to infill portions of the Coleman area and test the structural relationship between the Coleman and Lucky Shot vein systems.
In addition to surface results, the company provided an update on underground exploration development. To date, 332 meters of a planned 830 meters of lateral development have been completed, representing approximately 40% of the program. The 2090W West Drift Extension has been completed to design.
During the development of the West Drift Extension, the company encountered two previously unmodeled KM-style mineralized vein structures, tentatively designated KM2 and KM3. Samples from the development rounds ran as high as 395.10 g/t Au. The company stated that follow-up mapping, systematic channel sampling, and drilling are required to determine the geometry, continuity, and significance of these structures.
