Contango Silver and Gold Inc. (NYSE American: CTGO | TSX: CTGO) has released additional assay results from its 2026 surface diamond drilling program at the Lucky Shot Project in Alaska, reporting high-grade gold intersections including 140.23 g/t gold over 0.63 metres and 18.16 g/t gold over 3.65 metres. The company also confirmed that underground drilling on the newly identified KM vein system began on September 16, 2026, with ten of seventeen planned holes now completed. Investors may be watching these results closely as Contango works toward an updated mineral resource estimate targeted for the first half of 2027.

Key Points

  • Contango Silver and Gold Inc. (NYSE American: CTGO | TSX: CTGO) released new assay results from Lucky Shot, Alaska
  • Drill hole LSS26018 returned 140.23 g/t gold over 0.63 metres; LSS26021 returned 18.16 g/t gold over 3.65 metres
  • The 2026 surface program totalled approximately 5,800 metres across 27 holes; KM vein underground drilling is 10 of 17 holes complete
  • Investors should watch for KM vein assay results expected in Q4 2026 and pending assays from surface hole LSS26031

High-Grade Gold Intervals Confirm Coleman Vein Continuity at Lucky Shot

The second assay batch from the 2026 surface program covers nine holes drilled from Coleman Pads C, D, E, and F. Standout results include hole LSS26018, which intersected 140.23 g/t gold over 0.63 metres from the interpreted Coleman 4 vein and 9.97 g/t gold over 4.57 metres from Coleman 7. Hole LSS26019 returned 13.80 g/t gold over 2.74 metres including 118.36 g/t gold over 0.30 metres. The company cautions that all reported interval lengths are downhole core lengths and that true widths are not yet known and may be materially different.

2026 Surface Drilling Program Concludes With 5,800 Metres Completed

The surface diamond drilling program, which commenced June 22, 2026, concluded on August 31, 2026, with approximately 5,800 metres drilled in 27 holes from five pads, compared to an initial plan of approximately 6,000 metres. Seven of the nine holes in this batch returned significant gold intervals, while LSS26007 and LSS26008 had no significant intervals selected. Assays for one interval in LSS26031 and for hole LSS26025 remain pending and will be reported following receipt, review, and validation.

KM Vein Underground Drilling Advances from West Drift Extension

Underground exploration development has progressed to 450 metres of a planned 830 metres, representing approximately 54% completion, on a two-shift, 24-hour schedule. The 2090W West Drift Extension is complete and now provides drill access to the KM vein system. The KM underground program comprises approximately 1,140 metres in 17 planned holes from five stations, with ten holes completed to date. The company stated that assay results from the KM program are expected during the fourth quarter of 2026 and will be reported following receipt, review, and validation.

Updated Mineral Resource Estimate Targeted for H1 2027

The company stated that data gathered from the 2026 surface program will be instrumental in completing an updated mineral resource estimate in the first half of 2027. Lucky Shot remains an exploration-stage property; no mineral reserves have been declared, and the results reported do not demonstrate economic viability. Gold analyses for the samples in this release were completed using a two-cycle PhotonAssay™ method by Paragon Geochemical in Vancouver, British Columbia. The company's qualified person, Dave Larimer, CPG, VP Exploration, reviewed and approved the technical content of the announcement.