Contango Announces Start of Lucky Shot Underground Drill Program to Complete Feasibility Study

Core Insights - Contango ORE, Inc. has initiated the Lucky Shot drill program to support a Feasibility Study, with drilling expected to occur in four phases during Summer 2026 [1] - The underground exploration drilling will target approximately 18,000 meters across 210 drill holes, aiming to upgrade the Lucky Shot vein resource to Proven and Probable categories [1] - The Feasibility Study is anticipated to be completed in 2027, with assay results expected to start reporting in Q1 2026 [1] Drilling Program Details - The initial phase of drilling is focused on a resource "In-Fill" program on the Lucky Shot Vein, with additional testing on mineralized structures recently mapped in the West Drift [2] - Channel samples from the West Drift structure have shown significant gold grades, including 26.1 g/t, 379 g/t, and 9.1 g/t over 0.5 meters, averaging approximately 139 g/t over 1.5 meters [2] - The goal of the drill program is to gather data for a robust resource model to support the Final Feasibility Study [2] Company Overview - Contango is listed on NYSE American and focuses on gold exploration in Alaska, holding a 30% interest in the Peak Gold JV, which covers approximately 675,000 acres [4] - The company also has leases on the Johnson Tract and Lucky Shot projects, along with 100% ownership of around 8,600 acres of peripheral mining claims in Alaska [4]