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Contango Ore

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Contango Silver & Gold is a premier, North American mid-tier precious metals producer, developer and explorer.

Investor website: https://www.contangoore.com/

About

Contango Silver & Gold is a premier, North American mid-tier precious metals producer, developer and explorer. By uniting high-grade gold production and development stage assets in Alaska with district-scale silver advanced-stage exploration in British Columbia, we have created a high-margin platform for non-dilutive growth. The company focuses on high-grade deposits to maximize returns and employs a Direct Ship Ore strategy to reduce capital expenditures and enhance profitability.

Verified company data

Cash position
$15 million
Shares outstanding
32,851,900
Fully diluted shares
34,047,823
Mineral resource
The JT Deposit hosts an Indicated Resource of 3.489 Mt grading 9.39 g/t gold equivalent (“AuEq”) comprised of 5.33 g/t Au, 6.0 g/t Ag, 0.56% Cu, 0.67% Pb and 5.21% Zn. The Inferred Resource of 0.706 Mt grading 4.76 g/t AuEq is comprised of 1.36 g/t Au, 9.1 g/t Ag, 0.59% Cu, 0.30% Pb, and 4.18% Zn.
Projects
["Johnson Tract Project: Overview of the Johnson Tract Project. EXCEPTIONAL HIGH-GRADE GOLD ASSET IN ACCESSIBLE SOUTHCENTRAL ALASKA. Contango Silver & Gold acquired HighGold in July 2024 to focus on advancing the Johnson Tract Project – a project that fits the Contango Direct Shipping Ore (DSO) model. Johnson Tract (JT) is a polymetallic (gold, zinc, copper, silver, lead) project located near tidewater, 125 miles (200 kilometers) southwest of Anchorage, Alaska, USA. The 21,000-acre property includes the high-grade JT Deposit, a newly discovered Ellis Zone, and at least nine (9) other mineral prospects over a 12-kilometre strike length. HighGold acquired the Project through a lease agreement with Cook Inlet Region, Inc. (“CIRI”), one of 12 land-based Alaska Native regional corporations created by the Alaska Native Claims Settlement Act of 1971. CIRI is owned by more than 9,100 shareholders who are primarily of Alaska Native descent. Originally explored from 1982 to 1995, the Project was inactive for almost 25 years prior to acquisition by HighGold in 2019. The large land package is underexplored and has significant exploration potential. Contango will focus on expanding and developing the JT Deposit and Ellis Zones in addition to generating new discoveries. Contango is advancing elements that will facilitate eventual mining at the JT Deposit, including an expanded airstrip, an underground access ramp to expand and upgrade the resource, and a road to a barge landing at the coast. Baseline studies, permitting, and design work are underway. With an existing high-grade resource at Johnson Tract that will only increase with further drilling, the Company is assessing opportunities for near term production. The JT project is conveniently located close to tidewater which presents a unique opportunity for directly shipping ore mined at JT by barge to an existing mill facility. The JT Deposit hosts an Indicated Resource of 3.489 Mt grading 9.39 g/t gold equivalent (“AuEq”) comprised of 5.33 g/t Au, 6.0 g/t Ag, 0.56% Cu, 0.67% Pb and 5.21% Zn. The Inferred Resource of 0.706 Mt grading 4.76 g/t AuEq is comprised of 1.36 g/t Au, 9.1 g/t Ag, 0.59% Cu, 0.30% Pb, and 4.18% Zn. Metallurgical test work results indicate excellent recoveries with a gold recovery of >97% and base metal recoveries ranging from 80-90% to separate copper, zinc, and lead concentrates. Deleterious elements generally occur in low concentrations. Select JT Deposit drill intersections include: 108.6 m grading 10.4 g/t Au, 7.6% Zn, 0.7% Cu, 2.0% Pb and 8 g/t Ag (JT82-004 Original Discovery), 71.4 m grading 20.9 g/t Au, 9.8% Zn, 0.9% Cu, 1.6% Pb, and 9 g/t Ag (JT88-034), 137.7 m grading 11.3 g/t Au, 2.4% Zn, 0.5% Cu, 0.5% Pb, and 4 g/t Ag (JT93-067), 107.8 m grading 12.4 g/t Au, 7.1% Zn, 0.9% Cu, 1.6% Pb, and 9 g/t Ag (JT19-082), 75.1 m grading 10.0 g/t Au, 9.4% Zn, 0.6% Cu, 1.1% Pb, and 6 g/t Ag (JT19-090), 74.1 m grading 17.9 g/t Au, 7.3% Zn, 0.5% Cu, 1.3% Pb, and 7 g/t Ag (JT20-092), 56.6 m grading 19.3 g/t Au, 2.4% Zn, 0.5% Cu, 0.4% Pb, and 3.9 g/t Ag (JT21-125), 120.5 m grading 18.8 g/t Au, 3.9% Zn, 0.6% Cu, 0.9% Pb, and 6 g/t Ag (JT22-152). The outcropping Ellis Zone was drill tested in 1983 by Anaconda Copper with two drillholes. The zone was not tested again until HighGold drilled 577.9 g/t Au and 2,023 g/t Ag over 6.40 m in hole DC21-010 in 2021. HighGold continues to grow the Ellis Zone with the objective of generating an initial resource estimate for the new discovery. Select Ellis Zone drill intersections include: 6.4 m grading 577.0 g/t Au, 2023 g/t Ag, 2.15% Zn, 0.3% Cu, and 0.23% Pb (DC21-010), 42.8 m grading 3.4 g/t Au, 23.3 g/t Ag, 0.21% Cu, 0.83% Pb, 2.06% Zn (DC22-036), 35.2 m grading 4.2 g/t Au, 6.1 g/t Ag, 0.12% Cu, 1.4% Pb, 3.19% Zn (DC22-045), 14.8 m grading 10.14 g/t Au, 13.8 g/t Ag, 0.28% Cu, 0.46% Pb, 5.97% Zn (DC22-046). Project History: The Johnson Tract drill discovery was made by Anaconda Minerals in 1982. Past work (1982-1995) included eighty-eight (88) drill holes for a total of 26,840 meters, and major engineering and mining related studies by Westmin Resources Ltd. that evaluated direct shipping ore to their Premier mill in Stewart, British Columbia. Past work prioritized engineering at the expense of exploration, resulting in significant untested exploration potential. The Project reverted to CIRI in the late 1990s and saw no work until HighGold acquired the project in 2019. Agreement with CIRI: HighGold’s lease agreement is with Cook Inlet Region, Inc. (“CIRI”), one of 12 land-based Alaska Native Regional Corporations created by the Alaska Native Claims Act (ANCSA) of 1971. CIRI selected the Johnson Tract lands through ANCSA and, in addition to mineral and surface rights, CIRI was also granted port and transportation easement across adjoining parkland to support the extraction of minerals. The lease agreement has an “Initial Term” of 10-years, followed by a 5-year “Development Term” to achieve a mine construction decision, and then a “Production Term” that will continue for so long as operations and commercial production are maintained. Minimum exploration expenditure and annual lease payments are required to maintain the lease until production. CIRI maintains certain NSR royalty rights and a back-in right for up to a 25% participating interest."]
Leadership
Rick Van Nieuwenhuyse (CEO, and Director, Over 40 years of experience in the minerals mining industry. Previously served as President and CEO of Trilogy Metals Inc. and NOVAGOLD, Inc.), Shawn Khunkhun (President & Director, Over 20 years of experience in capital markets and mineral exploration, instrumental in enhancing shareholder value and growing mining companies.), Michael Clark (Chief Financial Officer, Previously served as CFO for Alexco Resource Corp. and Goldgroup Mining Inc., holds a degree from the British Columbia Institute of Technology and is a CPA.), Sunil Sharma (VP Finance, Over 20 years of experience in finance and accounting, previously CFO at Outcrop Silver and VP Finance at Trilogy Metals Inc.), Dave Larimer (VP Exploration, Over 20 years of experience in executing exploration programs, previously Chief Exploration Geologist for the Pogo Gold Mine.), Rob van Egmond (VP Exploration, Canada, Over 35 years of experience in international exploration and mining, has worked with major mining companies and junior explorers.), Chris Kennedy (VP Operations, 45 years in the mining industry with extensive experience in Alaska, has held senior positions in various mining operations.)

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