Contango Silver and Gold Inc. (NYSE American: CTGO | TSX: CTGO) released a corporate update on October 28, 2026, confirming that its 2026 Kitsault drill program surpassed its original target by approximately 40%, while infrastructure work at the Johnson Tract Project in Alaska finished ahead of schedule and under budget. The company also announced that underground drilling has commenced in the 2070 East Drift at its Lucky Shot Project — the first modern program to test the eastern extent of the Lucky Shot vein system. Investors may be watching the upcoming assay results across all three projects, which the company says will be released as they are received and validated over the coming months.

Key Points

  • Contango Silver and Gold Inc. (NYSE American: CTGO | TSX: CTGO)
  • Kitsault drill program completed 56,492 metres across 152 holes, exceeding the 40,000-metre target by approximately 40%
  • Johnson Tract access road and portal lay down area completed; new camp pad — originally slated for 2027 — also finished this season
  • Assay results from Kitsault are expected over the next two to three months; Lucky Shot Coleman and KM vein assays are anticipated in Q4

Kitsault Drill Program Surpasses 56,000 Metres in British Columbia's Golden Triangle

Contango completed its 2026 Kitsault drill program on October 15, 2026, logging 56,492 metres across 152 holes from 61 drill pads — well above the 40,000 metres originally planned. The release states the additional meterage was achieved through operational efficiencies including improved rig productivity and fewer weather and mobilisation delays, with no increase to the programme budget. The holes were designed to expand high-grade mineralisation zones, support resource conversion through infill drilling, and test new targets identified in the 2025 season. Assay results remain pending and are expected to be released over the following two to three months.

Johnson Tract Access Road and Camp Pad Complete Ahead of Original 2027 Schedule

At the Johnson Tract Project in Alaska, the company completed a 2.6-mile access road connecting the existing camp to the proposed portal site, along with the portal lay down area, both described as finished ahead of schedule and under budget. The disclosure also notes that a new camp pad — originally planned for 2027 — was completed during the 2026 season as a result of budgetary efficiencies. An engineering consultant has been selected for construction of a planned 60-man fully winterised camp targeted for 2027. Environmental studies continued throughout the 2026 season to support the ongoing permitting process.

Lucky Shot East Drift Marks First Modern Drilling of Eastern Vein System

Underground drilling began at the 2070 East Drift on October 22, 2026, with 42 holes planned from six drill stations targeting approximately 3,650 metres. A second drill rig is scheduled to mobilise to the 2300 East Drift on November 15, 2026, with 42 additional holes planned for roughly 5,320 metres. Both rigs are expected to continue through year-end and into early 2027. The company describes this as the first modern programme ever to test the eastern extent of the Lucky Shot vein system. Separately, the surface Coleman drill programme totalled approximately 5,800 metres across 27 holes, with remaining assays expected in Q4.

Manh Choh Third Campaign Curtailed; Production Guided to Lower End of Range

The third processing campaign at the Manh Choh mine concluded on September 24, 2026 — earlier than planned — due to persistent above-average rainfall and increased reagent consumption following mill modifications to handle higher copper and sulphide content. Remaining ore from the third campaign will shift to a fourth campaign scheduled to begin in November. The company is now 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, with unit costs expected to be consistent with Q2-2026. Third-quarter financial results are scheduled for release in mid-November.