Contango Silver & Gold Inc. (NYSE American / TSX: CTGO) has announced the completion of its 2026 field season, reporting significant operational milestones across its projects in Alaska and British Columbia. The company disclosed that it completed 56,492 meters of drilling at its Kitsault Project in British Columbia, exceeding its original plan of 40,000 meters by approximately 40%. This program consisted of 152 drill holes from 61 drill pads and was designed to expand high-grade zones, infill areas for resource conversion, and test new targets. Assay results from this program are pending and expected to be reported over the next two to three months.
In addition to the drilling results, Contango noted that a mineral resource update for Kitsault was released on September 22, 2026. The company plans to release all 2026 assay results as they are received and intends to update the mineral resource estimate in the first half of 2027. The company also highlighted the election of a majority Conservative government in British Columbia on October 24, 2026, stating that the new administration has signaled support for accelerated responsible resource development.
At the Johnson Tract Project in Alaska, the company completed the construction of a 2.6-mile access road and a portal lay down area ahead of schedule and under budget. The company also completed a new camp pad, work originally planned for 2027, which advances site preparation. This infrastructure is intended to support the construction of an underground exploration development drift scheduled to begin in 2027.
Regarding the Lucky Shot Project, Contango completed a Coleman surface drill program totaling approximately 5,800 meters. The company has now begun drilling in the 2070 East Drift, marking the first modern program to test the eastern extent of the Lucky Shot vein system. This drilling is expected to continue through the end of 2026, with assays to be released as they are received.
Regarding operations at the Manh Choh mine, the third processing campaign of 2026 concluded on September 24, 2026, earlier than planned due to rainy conditions. The remaining tons from the third campaign are scheduled to be processed during a fourth campaign beginning in November. The company stated that unit cash costs for the third quarter are expected to be similar to those of the second quarter of 2026, and it is guiding towards the lower end of its 2026 production guidance of 40,000 gold equivalent ounces attributable to its 30% interest in the Peak Gold JV.
