Contango secures $9M JV distribution, funds $63M exploration across three key projects
Contango Silver & Gold received a $9 million distribution from the Peak Gold JV on March 25, 2026 and will begin its second of four exploration campaigns in mid-May. It has a fully funded $63 million program covering Lucky Shot and Kitsault Valley drilling plus Johnson Tract infrastructure.
1. Peak Gold JV Distribution
On March 25, 2026, Contango received a $9 million cash distribution from its 30% interest in the Peak Gold JV, reflecting strong cash flow from producing mine operations.
2. Fully Funded 2026 Exploration Program
Contango has allocated a $63 million budget for four exploration campaigns in 2026, with the second campaign set to commence in mid-May to advance its Alaska and British Columbia assets.
3. Lucky Shot Drilling and Feasibility
At Lucky Shot, the company has completed 5,900 meters of underground drilling and plans an additional 12,100 meters of surface and underground drilling this year as part of a $21 million investment to underpin a H1 2027 Feasibility Study.
4. Johnson Tract and Kitsault Valley Development
The Johnson Tract project holds a $17 million budget for road construction, camp winterization, equipment mobilization and FAST-41 permitting, while Kitsault Valley will see an updated Mineral Resource Estimate by end-Q2 followed by a $25 million, 40,000 meter surface drilling campaign and PEA by H1 2027.