#USA #Contango ORE #Fairbanks #Gold Mining #Lucky Shot Project

Contango Ore Reports High Gold Intersections in Alaska

Contango Ore, Inc. has recently announced significant findings from their ongoing underground drilling program at the Lucky Shot Project, located in Alaska. The assays reveal that the Company intersected 60.22 g/t gold over a length of 5.92 meters, with outstanding results of 294.77 g/t gold over 1.16 meters from one particular drill hole, LSU25031. This exciting development marks a promising phase in the exploration efforts carried out by the Company.

Background

The current drilling program, which commenced in late 2025, represents the first segment of a carefully structured, multi-phase exploration initiative aimed at enhancing resource estimates and improving technical knowledge about the area. Contango is currently operationalizing this strategy to prepare for a comprehensive mineral resource update and feasibility study scheduled for the first half of 2027.

The drill campaign is specifically designed to delve into the geological models of the Lucky Shot vein system, including its subsections, as well as recently identified mineralized structures. With these drilling operations, the Company aims to gain further insights about the underground environment, advance their understanding of existing veins, and clarify the structural complexities observed at the site.

Drill Program Highlights

Overall, the drilling program has made remarkable strides:

• - A total of 2,063 meters have been drilled through 20 HQ diamond holes across four strategic underground drill stations.
• - Significant mineralization has been confirmed within the historically prominent Lucky Shot vein as well as additional veins such as L1b and L1c.
• - The program provides insights into new mineralized structures, particularly a previously undocumented one named the KM vein.

Rick Van Nieuwenhuyse, President and CEO of Contango, expressed his satisfaction with the current drilling operations. He stated, "The results achieved thus far affirm the continuity of the Lucky Shot vein while also enhancing our understanding of the subsidiary L1b and L1c veins that contribute to the overall mineral resource base. Furthermore, the emergence of the KM vein signifies a new structural orientation for mineralization, demanding further investigation to comprehend its implications."

Details of Gold Intersections

This successful drilling has yielded several noteworthy intersections, including:

• - LSU25031: 5.92m averaging 60.22 g/t Au, including a sub-segment of 1.16m averaging 294.77 g/t Au from the KM vein.
• - Other highlighted intersections include LSU25030 showing 8.17 g/t Au and LSU25036 averaging 8.29 g/t Au.

Such findings underscore the significant potential of the Lucky Shot site, showcasing multiple instances of visible gold within the core samples.

Future Actions

Looking ahead, Contango plans to continue its drilling efforts with approximately 40 additional holes slated for exploration. This current phase of drilling is expected to conclude by the end of April 2026, with all operational activities being executed from previously established underground infrastructure to ensure precision in targeting known vein structures.

Conclusion

With this robust performance from the drilling campaign, Contango ORE is set to deliver some compelling results in the realm of gold mining within Alaska. Their strategic approach to capitalizing on the existing geological knowledge while exploring new discoveries signifies a prudent yet ambitious roadmap. Stakeholders eagerly anticipate how these results will further shape the project and support the Company’s overarching mineral aspirations. Continuous updates will be provided as operations progress, further documenting this fascinating journey in one of Alaska's rich mineral landscapes.