Core Viewpoint - Contango ORE, Inc. has announced positive drill results from its 2024 surface drill campaign at the Johnson Tract polymetallic gold project, highlighting the high-grade nature of the JT Deposit with an Indicated Resource of 1.05 million ounces at 9.39 grams per tonne gold equivalent [1][14]. Exploration and Development Activities - The 2024 exploration program involved approximately 3,000 meters of drilling across 18 holes, focusing on infill drilling and hydrogeological testing to characterize the hydrology and water quality around the JT Deposit [2][4]. - A 404 Permit has been received for the construction of a 2.6-mile access road to the proposed portal and laydown site, facilitating further development [3][12]. - The infill drilling targeted the upper third of the deposit to upgrade the 2022 Mineral Resource Estimate to Measured and Indicated categories, with deeper drilling planned from underground following the development of an exploration drift [8][11]. Drill Results - The 2024 drill program yielded significant intercepts, including: - GT24-008: 223.5 meters at 11.5 g/t AuEq, with a notable 55.5 meters at 30.3 g/t AuEq [3][6]. - GT24-007: 93.0 meters at 9.1 g/t AuEq, including 22.1 meters at 20.7 g/t AuEq [3][7]. - JT24-159: 30.2 meters at 6.3 g/t AuEq, including 14.7 meters at 10.6 g/t AuEq [3][7]. - A total of 21 HQ diamond drill holes were completed, totaling 3,092.3 meters, with three dedicated to hydrogeological and geotechnical testing [6][12]. Future Plans - The company is focused on advancing the Johnson Tract Project towards feasibility and mine development, with ongoing geotechnical, hydrologic, and environmental studies [5][12]. - Planning is underway for a 2025 program to continue exploration and development efforts [5][12].
Contango Ore Provides Update and 2024 Drill Results for the Johnson Tract Project, Alaska, USA