Contango Silver and Gold Inc. (NYSE American: CTGO) launched a surface drill program at its Lucky Shot project in Alaska on June 22, 2026, with two helicopter-supported drill rigs mobilized to site.

The program plans 29 holes across five drilling platforms totaling approximately 6,800 meters. The drilling is designed to infill areas of known mineralization within the Coleman portion of the resource and to test structural continuity between the Coleman and Lucky Shot vein systems.

At the Johnson Tract Critical Metals Project, permitting for surface infrastructure — including an access road and barge facility — remains on schedule, with six regulatory actions completed. The company has opened the Johnson Tract camp for the summer season to conduct environmental and cultural baseline studies, including marine and freshwater quality surveys, wildlife surveys, wetlands mapping, and cultural resource studies. Geotechnical drilling and construction of a 2.6-mile road on Cook Inlet Regional Inc. land are also underway, with on-site construction expected to continue through October.

CEO Rick Van Nieuwenhuyse said the access road would allow the company to begin construction on an underground exploration tunnel in 2027, pending receipt of all permits.

At the Kitsault Valley project in British Columbia, the company reported over 14,000 meters of drilling completed, focused on infill and extensional drilling at the Torbrit, North Star, Wolf, and Red Point targets. An updated Mineral Resource Estimate is expected by late July. The company's planned program totals 40,000 meters.

On the financial side, the company stated it has delivered all remaining 11,000 ounces of gold into its 2026 hedge contracts ahead of schedule. A further 15,000 ounces remain under hedge contracts scheduled for delivery in the first half of 2027. CFO Mike Clark said the company intends to work toward eliminating the remaining hedges during the year.

The information is based on a press release issued by Contango Silver and Gold Inc.