Contango Ore Initiates Lucky Shot Drill Program for Feasibility Study Advancement

Contango Ore Launches Ambitious Lucky Shot Drill Program for Feasibility Study

Contango Ore, Inc. is set to embark on a significant undertaking with its newly initiated Lucky Shot drill program, which aims to support the completion of a detailed Feasibility Study. Starting on November 19, 2025, this program will unfold in four distinct phases, predominantly during the summer of 2026. It encompasses an extensive drilling campaign of approximately 18,000 meters, which translates to about 59,055 feet, across 210 holes. This drilling initiative is crucial for advancing the in-fill of the Lucky Shot vein resource, elevating its classification to Proven and Probable categories. By utilizing both underground and surface exploration techniques, Contango aims to enhance its understanding of the mineral resource and pave the way for future development.

The drilling program is designed not only to focus on resource in-fill but also to explore newly mapped mineralized structures within the West Drift area. Exploration Manager Dave Larimer expresses enthusiasm about the potential of these structures, particularly following recent channel samples that have revealed impressive gold grades, including 26.1 grams per ton (g/t) and a remarkable 379 g/t over short intervals. The combination of these promising findings and the robust drilling strategy positions Contango to make significant strides in establishing the economic viability of the Lucky Shot project. The results from this program are expected to be critical in shaping the Feasibility Study, which is anticipated to be completed in 2027, with preliminary assay results beginning to surface in early 2026.

In addition to the primary focus on the Lucky Shot project, Contango Ore holds a 30% stake in the Peak Gold Joint Venture (JV) in partnership with Kinross Gold Corporation, which maintains the majority interest. This JV encompasses an extensive area of approximately 675,000 acres dedicated to exploration on the Manh Choh project. Furthermore, Contango has secured leases on both the Johnson Tract and Lucky Shot projects, along with full ownership of roughly 8,600 acres of peripheral mining claims in Alaska. The strategic positioning and scope of Contango's claims signify its commitment to advancing its exploration and mining initiatives in the region.

As the Lucky Shot drill program progresses, the insights gained will not only bolster Contango's resource base but will also contribute to the broader narrative of gold exploration in Alaska, a region rich in mineral potential. The upcoming phases of the drilling program are highly anticipated by stakeholders eager to witness the evolution of the project and its implications for the future of Contango Ore.