Northwire Canada EditionFriday, July 10, 2026
Sign inSubscribe
Northwire
⌕
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 Silver & Gold Provides Project Updates

Contango Silver advances Alaska and BC drilling and settles gold hedges ahead of schedule as its stock consolidates near key support levels.

By The Northwire Desk — AI Analysis Jun 23, 2026 · 08:00 CTGO · 22.54 Contango Silver & Gold Inc.
Executive Summary
  • Contango Silver & Gold provided a comprehensive operational update across its Alaska and British Columbia portfolio on June 23, 2026.
  • Lucky Shot surface drill program commenced June 22, 2026, with 29 holes planned across 5 platforms targeting ~6,800 meters to infill the Coleman zone and test structural continuity toward the Lucky Shot vein system.
  • Johnson Tract permitting remains on schedule under the federal FAST-41 program, with six actions completed. Summer camp is open, and baseline environmental surveys are underway. A 2.6-mile access road and barge facility construction is progressing through October.
  • Kitsault Valley drilling has exceeded 14,000 meters to date, focusing on infill and extensional targets at Torbrit, North Star, Wolf, and Red Point. First samples from Torbrit and North Star are in the lab, with results expected in Q3 2026.
  • An updated Mineral Resource Estimate (MRE) for Kitsault Valley is on track for release by late July 2026.
  • The company announced the early settlement of its entire 2026 gold hedge book (11,000 ounces), delivered ahead of schedule in Q1 and Q2 2026. This increases corporate exposure to spot gold prices. 15,000 ounces remain scheduled for delivery in H1 2027.
  • A conference call is scheduled for June 24, 2026, to discuss these updates.
Material Impact
  • The news is a routine operational follow-up that aligns with the company's previously announced 2026 roadmap. The commencement of surface drilling at Lucky Shot and continued progress at Kitsault Valley and Johnson Tract are expected milestones.
  • The early settlement of the 2026 hedge book is a known financial strategy to reduce downside risk and increase leverage to higher gold prices. While positive for cash flow certainty, it locks in delivery at a lower contracted price ($1,962/oz) relative to current market levels, capping immediate upside leverage.
  • No new catalysts, unexpected discoveries, or material changes to the capital structure or project timelines are introduced. The market has already priced in the TSX listing, the Dolly Varden acquisition, and the initial drill results.
  • The update confirms execution but lacks the surprise element required for a material re-rating. It is classified as Routine - Positive.
CTGO · Price
Company Overview
  • Contango Silver & Gold Inc. operates a portfolio of four North American projects focused on gold and silver.
  • Manh Choh Mine (30% interest): Located in Alaska, this is the company's producing asset and cash flow engine. It operates under a Direct Shipping Ore (DSO) model. First gold pour was in July 2024, with 2025 production of 60,200 oz Au.
  • Lucky Shot Project (100%): Located in Alaska, this high-grade gold project is advancing toward a Feasibility Study targeted for H1 2027. The company recently acquired 100% ownership and extinguished a 2% NSR royalty.
  • Johnson Tract Project (100%): Located in Alaska, this critical metals project is in the exploration and permitting phase. An Initial Assessment released in May 2025 showed strong economics ($615M NPV at $4,000 Au).
  • Kitsault Valley Project (100%): Located in British Columbia's Golden Triangle, this district-scale silver-gold project is undergoing a 40,000-meter surface drill program to support a Preliminary Economic Study in H1 2027.
Read the original news release →

More from Contango Silver & Gold Inc.

Jul 06, 2026 · 08:00

Contango’s hedge conversion unlocks unhedged gold upside while ensuring debt is comfortably covered by cash reserves.

Financings Jun 29, 2026 · 17:00

Contango settles Lucky Shot milestones at a discount and secures a $9 million joint venture payout as its stock tests critical support levels.

Financings Jun 18, 2026 · 16:45

Contango Announces Results of the 2026 Virtual Annual Meeting of Stockholders

Regulatory Jun 16, 2026 · 08:00

Contango’s high-grade drilling at Alaska’s Lucky Shot deposit continues to validate vein architecture ahead of a 2027 feasibility study.

Drill Results Jun 12, 2026 · 09:53

Contango uses a $97.5 million war chest to fund aggressive drilling across its Alaska and British Columbia projects.

Regulatory May 26, 2026 · 08:00

Contango Commences Kitsault Drilling as Stock Retreats from May Highs

Drill Results