Key Highlights

  • Contango Silver and Gold Inc. completed initial underground drilling at the Lucky Shot Project, totaling 6,020 meters across 65 drill holes.
  • Significant gold intercepts include 0.17 meters yielding notable grades from drill hole LSU26091.
  • The company has restarted underground exploration work with GMS Mine Repair & Maintenance, advancing 43 meters of access.
  • Other notable results feature 5.30 meters grading 8.89 g/t gold from drill hole LSU26078 and 0.30 meters grading 38.97 g/t from LSU26085.

Contango Silver and Gold Inc. (NYSE American: CTGO) has announced the successful completion of its initial underground drilling phase at the Lucky Shot Project in Alaska. This phase involved an extensive 6,020 meters of diamond drilling across 65 holes, designed to enhance the understanding of the Lucky Shot vein system.

Highlighting the success of this drilling initiative, the final assay results reveal standout intercepts, notably a remarkable 0.17 meters yielding high-grade gold from drill hole LSU26091. This exceptional result underscores the potential characteristics of the project as the company moves forward.

Complementing this principal discovery, additional significant intercepts were recorded, including 5.30 meters grading 8.89 grams per tonne from drill hole LSU26078 and 0.30 meters grading 38.97 grams per tonne from drill hole LSU26085. These positive results further validate the geological complexity of the vein structures identified during the drilling program.

As of May 27, 2026, Contango has resumed underground exploration development at Lucky Shot. The company has engaged GMS Mine Repair & Maintenance, a contractor specializing in underground mining solutions, which has successfully advanced 43 meters of exploratory access. Continued development in this area is critical for establishing the necessary platforms for upcoming drilling activities.

The initial phase of the drilling program began in November 2025, utilizing existing underground infrastructure along the West Drift. These advancements have led to improved geological modeling, which will inform future exploration strategies.

The results from this program will play a pivotal role in shaping the next stages of drilling and exploratory efforts at Lucky Shot, as the company aims to identify extensions of high-grade veins and further opportunities within the vein system's complexities. Contango remains committed to adhering to industry best practices and quality assurance measures throughout its exploration processes.

With the completion of this drilling phase, the company anticipates solidifying its standing within the mining sector as it continues to demonstrate the potential of its gold assets. Investors will be keenly watching how these results translate into further developments for the company’s stock trajectory.

 

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.