Contango Silver & Gold Hits 972.10 g/t Gold, Restarts Underground Development
CTGO•Contango Silver & Gold completed the first phase of its 2025/2026 underground drilling at Lucky Shot, reporting 65 holes totaling 6,020 meters highlighted by a 0.17-meter intercept grading 972.10 g/t Au and multiple visible-gold intervals. Underground development has resumed with GMS mobilized to advance access and drill platforms.
1. Final Assay Highlights
Contango reported final assay results from 65 underground HQ drill holes at Lucky Shot totaling 6,020 meters. The standout intercept in hole LSU26091 graded 972.10 g/t Au over 0.17 meters with visible gold, while other significant intervals include 5.30 meters at 8.89 g/t Au (including 0.60 meters at 35.15 g/t) and 0.30 meters at 38.97 g/t.
2. Completion of Initial Drilling Phase
The initial phase targeted the L2, L1b-e, CK and KM vein structures with fan drilling from 587 and 612 stations. This work refined the geometry and continuity of multiple mineralized veins and enhanced geological confidence ahead of eastward expansion toward the Enserch Tunnel.
3. Underground Development Restarted
GMS Mine Repair & Maintenance has mobilized underground to rebuild and extend the West Drift, establishing new exploration accesses and drill platforms. This development stage is critical for facilitating the next phase of diamond drilling and advancing technical studies.
4. Updated Geological Model
New cross-sectional interpretations integrate the latest drill data to refine the structural model of the Lucky Shot vein system. The updated model better defines the relative positions and continuity of principal veins, informing follow-up targets such as the high-grade KM vein encountered at the end of the West Drift.
