Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Drill Results Routine +

Contango Commences 40,000-meter 2026 Drill Program at the Kitsault Valley Silver-Gold Project

Contango Commences Kitsault Drilling as Stock Retreats from May Highs

By The Northwire Desk — AI Analysis May 26, 2026 · 08:00 CTGO · 29.8 Contango Silver & Gold Inc.
Executive Summary
  • Contango Silver & Gold Inc. has commenced a 40,000-meter drilling program at the Kitsault Valley Silver-Gold Project on May 26, 2026.
  • The program focuses on infill and resource expansion across Dolly Varden, Wolf, and Homestake Ridge deposits.
  • Three diamond drills are active with two more expected online within a week.
  • A recent high-grade intercept (DV25-470) reported 518 g/t Ag over 0.52 meters.
  • Drilling results will support a new resource update and Preliminary Economic Study (PEA/IA) expected in H1 2027.
  • This follows the April 22, 2026 announcement of a $25 million budget for Kitsault and a scheduled June start date.
Material Impact
  • The commencement of drilling is an execution milestone rather than new information; it was explicitly planned in the April 22 operational roadmap ($40,000 meter program).
  • While positive for long-term resource growth, the news lacks surprise value as the market was already aware of the funding and timeline.
  • The stock price has declined approximately 20% from its May 8 high ($37.22) to the current level ($29.80), suggesting the previous "Material - Positive" acquisition news (May 5) may have been priced in or profit-taking is occurring.
  • The high-grade intercept mentioned is specific but does not fundamentally alter the project economics compared to prior Lucky Shot results which drove the May rally.
  • Overall, this confirms operational progress but does not materially change valuation expectations relative to April announcements.
CTGO · Price
Company Overview
  • Company: Contango Silver & Gold Inc. (CTGO).
  • Flagship Project: Manh Choh Mine (Alaska) - Producing gold mine generating cash flow to fund exploration.
  • Growth Projects:
    • Lucky Shot (Alaska): High-grade underground gold project, acquisition completed May 2026 ($16M consideration), Feasibility Study targeted H1 2027.
    • Kitsault Valley (BC): Silver-Gold project with 40,000-meter drilling program commenced May 2026.
    • Johnson Tract (Alaska): Permitting phase for future development.
  • Business Model: Cash flow from Manh Choh funds aggressive advancement of 100%-owned assets in Alaska and BC.
Read the original news release →

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