Contango Silver and Gold Inc. (NYSE American / TSX: CTGO) announced additional assay results from its 2026 surface diamond drilling program at the Lucky Shot Project in Alaska on October 6, 2026. The company also provided an update on underground exploration development and drilling targeting the KM vein system.
The surface program, which concluded on August 31, 2026, totaled approximately 5,800 meters in 27 holes from five drill pads. This release details results from nine holes located on Coleman Pads C, D, E, and F. The drilling targeted infill areas within the Coleman geological model and step-out areas to test structural relationships between the Coleman and Lucky Shot vein systems.
Significant high-grade intervals were intersected, including:
- Hole LSS26018: 140.23 g/t gold over 0.63 meters and 9.97 g/t gold over 4.57 meters, including 86.98 g/t gold over 0.39 meters.
- Hole LSS26021: 18.16 g/t gold over 3.65 meters, including 61.73 g/t gold over 0.52 meters.
- Hole LSS26019: 13.80 g/t gold over 2.74 meters, including 118.36 g/t gold over 0.30 meters, and 27.28 g/t gold over 0.36 meters.
CEO Rick Van Nieuwenhuyse noted that the results demonstrate the continuity of the Coleman segment of the vein system and will be used to complete an updated mineral resource estimate in the first half of 2027. The company also aims to complete a feasibility study targeting a five-year mine plan delivering 40,000 to 50,000 ounces of annual production.
Underground exploration development has advanced 450 meters of a planned 830 meters, or approximately 54%. The 2090W West Drift Extension is complete, providing access for KM vein drilling. Underground drilling from this extension began on September 16, 2026, with 10 of 17 planned holes completed. The program comprises approximately 1,140 meters in 17 planned holes from five drill stations.
Contango will host a conference call and webcast on Tuesday, October 6, 2026, at 12:00 p.m. Eastern Time to discuss the results.
