Contango Silver & Gold Inc. (NYSE American: CTGO) reported initial gold assay results from its 2026 surface diamond drilling program at the Lucky Shot Project in Alaska, according to a company press release.

Drill hole LSS26016 returned 2.45 meters grading 86.05 grams per tonne (g/t) gold from the Coleman 3 vein extension, including 0.80 meters grading 244.30 g/t gold and 0.30 meters grading 49.96 g/t gold. Hole LSS26003 returned 0.50 meters grading 81.57 g/t gold from the Coleman 1 vein. Visible gold was observed in five of the seven holes reported. All reported interval lengths are downhole core lengths, and true widths are not yet known.

As of August 27, 2026, approximately 5,700 meters had been completed across 27 drill holes from five surface pads, representing about 93% of the planned 6,000-meter program. Assays from the remaining holes are pending.

Underground exploration development has advanced 332 meters of a planned 830 meters, or approximately 40% of the program. The company expects to complete this phase of underground development during the middle of the fourth quarter of 2026.

During development of the West Drift Extension, two previously unmodeled mineralized vein structures were encountered, tentatively designated KM2 and KM3. Selective hand samples from stockpiled vein material returned values up to 395.10 g/t gold. The company cautioned that these samples are not systematic and do not establish bulk grade, continuity, mineral resources, or mineral reserves.

Lucky Shot is described as an exploration-stage property. No mineral reserves have been declared, and the results do not demonstrate economic viability.