#United States #Contango ORE #Fairbanks #Lucky Shot #Feasibility Study

Contango ORE's Lucky Shot Drill Program: A New Era in Gold Exploration

Contango ORE, Inc., a prominent player in the gold exploration industry, has officially kicked off the Lucky Shot drill program as a pivotal step towards completing a comprehensive feasibility study. This initiative marks an exciting phase in the company's efforts to tap into the mineral wealth of Alaska. The drill program is designed to be executed in four distinct phases and aims to utilize both underground and surface drilling techniques. Scheduled to commence in the summer of 2026, the program will involve drilling approximately 18,000 meters (approximately 59,055 feet) across 210 drill holes. The primary goal is to transition the Lucky Shot vein resource into the Proven and Probable categories.

Alongside the drilling operations, which began on November 19, 2025, the company will incorporate advanced testing methodologies. Selected drill cores will undergo hydrological and geotechnical evaluations to better characterize the deposit's overall attributes. Moreover, comprehensive assays, including metallurgical, geochemical, and specific gravity analyses, will be performed to construct a robust reserve model that will underpin the upcoming feasibility study, anticipated for completion in 2027.

Dave Larimer, Contango's Exploration Manager, expressed enthusiasm over resuming underground operations at the Lucky Shot mine. He emphasized that this initial drilling phase is a critical resource in-fill program. Additionally, the exploration will also target mineralized conjugate and relay structures recently mapped in the West Drift. Excitingly, previous channel samples from this area revealed impressive gold grades, including 26.1 g/t, 379 g/t, and 9.1 g/t over varying lengths, showcasing the vein's potential.

The drill program's success is crucial for developing a mature resource model, which will play an integral role in supporting the Final Feasibility Study. Contango's strategic planning and expert evaluation process highlight the company's commitment to responsible and effective exploration practices, ensuring both economic viability and environmental stewardship.

As the company progresses, assay results will begin to be reported in batches starting in Q1 2026, providing transparency and updates to stakeholders eagerly awaiting developments. Contango ORE aims to spearhead advancements in gold mining while adhering to high standards of operational excellence.

About Contango ORE, Inc.

Contango ORE, Inc. is a publicly traded company that actively engages in the exploration and development of gold and associated minerals in Alaska. The firm holds a 30% interest in the Peak Gold joint venture, which is responsible for extensive land leases in the Manh Choh project area. The remaining 70% of the joint venture is owned by KG Mining (Alaska), Inc., a subsidiary of Kinross Gold Corporation. Moreover, Contango has a series of leases on the Johnson Tract and Lucky Shot projects and boasts ownership of additional state mining claims, totaling around 145,000 acres.

Looking Forward

Contango ORE remains focused on delivering significant results through its drilling efforts and other explorative initiatives. This drill program reflects the company's dedication to leveraging Alaska's rich mineral resources and will serve as a cornerstone for its future successes in the mining industry. Investors and stakeholders will be closely monitoring the outcomes as the data gathered will shape the company's operational strategies moving forward. The excitement surrounding Contango's endeavors underscores the potential for groundbreaking developments in the field of gold exploration.