Contango Intersects 506 g/t AgEq over 13.90 Meters at Torbrit and 807 g/t AgEq over 4.96 Meters at North Star Infill and Expansion Drilling
Contango Intersects 506 g/t AgEq over 13.90
Meters at Torbrit and 807 g/t AgEq over 4.96
Meters at North Star Infill and Expansion
Drilling
Fairbanks, Alaska--(Newsfile Corp. - September 15, 2026) - Contango Silver and Gold Inc. (NYSE
American: CTGO) (TSX: CTGO) ("Contango" or the "Company") is pleased to announce initial assay
results from the Torbrit and North Star silver deposits as part of the ongoing 2026 infill and expansion
diamond drilling program at the Kitsault Valley Project, located in Northwest British Columbia's Golden
Triangle. Highlighting these results, systematic step-out drilling has confirmed a mineralized zone
connecting the Torbrit and North Star silver deposits. Notable high-grade, primary silver intercepts
include
506 g/t AgEq
over
13.90 meters
in drill hole
DV26-480
at Torbrit, and
807 g/t AgEq
over
4.96
meters
in drill hole
DV26-494
, located over 300 meters to the southwest at North Star.
Highlights
DV26-480 (Torbrit):
506 g/t AgEq
over
13.90 meters
, including
881 g/t AgEq
over
2.30 meters
within a broader mineralized zone of
25.00 meters
grading
304 g/t AgEq;
DV26-488 (Torbrit):
272 g/t AgEq
over
5.54 meters
, and
0.98m of 2,878 g/t AgEq
within
2.00
meters of 1,576 g/t AgEq
;
DV26-494 (North Star):
807 g/t AgEq
over
4.96 meters
, including
2,254 g/t AgEq
over
1.00
meter
; and
DV26-515 (Torbrit):
Several zones include an Upper zone (with lens A and B); and a Lower zone:
Upper zone grading
33.50 meters
of
262 g/t AgEq
with lens A grading
436 g/t AgEq
over
6.70
meters
, and lens B grading
294 g/t AgEq
over
17.00 meters
including
1,071 g/t AgEq
over
1.00
meter;
and the Lower zone grading
66.35 meters
of
165 g/t AgEq.
Rick Van Nieuwenhuyse, the Company's Chief Executive Officer said, "Infill drilling continues to
demonstrate exceptional grade and continuity at Kitsault Valley-delivering 500 to 2,800+ g/t silver values
over thick intervals that routinely match or beat our resource estimates. Keep in mind that over 90% of
silver equivalent grades are due to the silver content and not base metals which is why Kitsault hosts
such exceptional primary silver deposits.
Thanks to exceptional drilling efficiencies on site this season, we've been able to expand our campaign
to over 50,000 meters. Crucially, systematic step-out drilling between Torbrit and North Star has now
defined a clear structural link, proving these deposits are part of one unified, interconnected silver
system. It's important to note that none of this 2026 drilling is incorporated into our Mineral Resource
Estimate update due later this month, meaning these initial results-and those still to come-represent
brand-new growth upside that will feed directly into future resource expansion and mine planning.
Confirming this mineralized corridor marks a major milestone for the project, laying the foundation to
potentially merge two separate deposits into a single, integrated mine plan with shared development
infrastructure. We have plenty more assays coming from the 2026 program and I eagerly anticipate the
next batch of results."
2026 Kitsault Valley Drill Program
Mobilized in late May 2026 with five diamond drill rigs, the Kitsault Valley program was initially scoped at
40,000 meters but has expanded toward +50,000 meters thanks to exceptional operational efficiencies
on site. Drilling has focused on infill and step-out expansion around established mineral resources, as
well as testing multiple high-priority regional targets. The campaign covers the entire project footprint,
spanning the silver-dominant Dolly Varden Target Area in the south, which includes Torbrit, North Star,
Wolf, and the recently defined 470 target, as well as the gold-dominant Homestake Target Area in the
north (Figure 1). Assays for the majority of the ongoing 2026 program remain pending and will be
reported in batches as results are finalized.
Figure 1. Plan and long sectional view of the Kitsault Valley Project highlighting 2026 Torbrit
and North Star drilling area from this release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12610/314349_1c533b84849d291c_002full.jpg
The start of this season's drill program focused on the Torbrit and North Star deposits, where drilling has
now successfully confirmed these two deposits form a connected mineralized system. Step-out drilling
into the gap between the two deposits successfully intersected mineralization, demonstrating the
continuity of mineralization below the valley bottom (Figures 2&3). These new step-out intercepts will be
integrated into our evolving geological model and will drive a subsequent Mineral Resource Estimate
(MRE) planned for 2027, providing immediate upside on top of our imminent 2026 MRE update.
Exploration Drill Results: Torbrit and North Star
The Torbrit and North Star silver deposits are characterized by barite rich stratiform mineralization
overprinted by epithermal veining and brecciation, delivering high-grade silver and localized base metal
values. Mineralization across both deposits consists of native silver, pyrargyrite, argentite, silver
sulphosalts, argentiferous galena, and sphalerite.
Infill drilling at Torbrit and North Star delivered robust silver and base metal grades while upgrading
confidence across wider-spaced areas that were previously modelled based on historic underground
drilling from the 1960s. This year to date, 32 drill holes have been completed at Torbrit, with an
additional 21 drill holes targeting North Star and the connection zone between the two deposits (Figures
2&3). Drilling remains active with one drill continuing expansion work along the North Star-Torbrit
linkage, with 3 additional drills currently turning across the Homestake Target area, newly defined 470
target and Wolf deposit areas. The fifth rig has been demobilized.
This release includes initial assays from 34 holes across the Torbrit and North Star silver deposits, as
detailed in Table 1 below. All reported downhole core lengths approximate 80% to 95% of true width, as
drilling was oriented as close to perpendicular to the mineralized zones as possible. Assays for the
balance of the 2026 program remain pending and will be released in batches as results are validated.
Figure 2. Plan view of the 2026 Torbrit and North Star drilling, including drill holes from this
release and pending results shown with lithology. Historic drilling is shown with black drill hole
traces.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12610/314349_1c533b84849d291c_004full.jpg
Rob van Egmond, P.Geo, and the Company's Vice President Exploration - Canada stated, "The initial
Torbrit and North Star results improve confidence in the geological model and confirm the
interconnectivity of the silver system in the southern portion of the property. Highlighted intercepts
demonstrate strong silver dominance, with elemental silver accounting for approximately 90% to 94% of
the calculated silver-equivalent grade across both infill and expansion drilling. Standout hits like 881 g/t
silver-equivalent over 2.30 meters in DV26-480 and 262 g/t silver-equivalent over 33.50 meters in
DV26-515 showcase the exceptional grade and scale of these deposits-frequently featuring exciting
mineralogy with visible native silver, pyrargyrite, and coarse argentite overprinted on barite-rich
stratiform zones. Crucially, step-out drilling has proven physical continuity across the valley floor between
Torbrit and North Star, while infill drilling has successfully validated historic 1960s underground data to
solidify structural continuity in our 3D model."
Figure 3. Long-section type Cross-sectional view A-A' of Torbrit with North Star to the west with
the mineralized horizon dipping away. Historic underground levels and stopes are shown in
grey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12610/314349_1c533b84849d291c_005full.jpg
Table 1. Drill hole results from Torbrit and North Star deposit areas
Target
Hole ID
From
To
Total (m)
Ag (g/t)
Pb (%)
Zn (%)
Au (g/t)
AgEQ (g/t)
Torbrit
DV26-476
169.22
193.77
24.55
142
0.28
0.19
0.01
148
including
192.43
193.77
1.34
600
0.75
0.47
0.01
616
DV26-477
165.95
176.02
10.07
197
1.27
0.49
0.01
220
including
175.22
176.02
0.8
344
8.4
0.29
0.01
447
DV26-478
114
126
12
77
0.02
0.05
0.01
78
including
114
116.47
2.47
246
0.04
0.03
0.01
247
135.67
153.88
18.21
30
0.46
0.45
0.01
42
DV26-480
146
171
25
300
0.15
0.18
0.01
304
including
157.1
171
13.9
499
0.24
0.25
0.01
506
including
161.65
163.95
2.3
872
0.31
0.37
0.01
881
DV26-482
N/S
DV26-483
172
184.53
12.53
77
0.16
0.23
0.01
83
including
172
177.8
5.8
149
0.33
0.35
0.01
159
DV26-486
158.18
195.2
37.02
20
0.26
0.24
0.01
27
including
159.18
160.53
1.35
117
2.66
3.62
0.03
205
DV26-487
202.28
205.43
3.15
120
1.43
4.86
0.01
211
DV26-488
156.47
162.01
5.54
232
1.26
1.62
0.02
272
188.75
190.75
2
1566
0.17
0.49
0.01
1576
including
189.77
190.75
0.98
2860
0.28
0.9
0.01
2878
199.5
217.01
17.51
112
0.46
0.31
0.01
123
including
199.5
208.62
9.12
169
0.32
0.2
0.01
176
DV26-491
167.9
174
6.1
87
0.41
0.18
0.01
95
DV26-493
186.7
223.1
36.4
121
0.57
0.29
0.01
133
including
196.3
200.33
4.03
179
3.54
0.09
0.01
222
217.63
223.1
5.47
335
0.13
0.06
0.01
338
DV26-495
N/S
DV26-496
164
167
3
402
0.72
0.29
0.01
415
DV26-497
156.12
168.51
12.39
62
0.13
0.86
0.03
78
including
157.4
158.4
1
315
0.14
1.21
0.05
338
DV26-500
118
155
37
52
0.32
0.83
0.01
69
including
118
127
9
147
0.33
1.39
0.01
173
DV26-502
84.84
138
53.16
98
0.22
0.1
0.01
103
including
101.2
104.2
3
579
1.66
0.18
0.01
602
including
121
138
17
155
0.17
0.1
0.01
159
including
122
123
1
476
0.18
0.11
0.01
480
including
128.6
133
4.4
295
0.3
0.12
0.01
301
DV26-505
140
167
27
43
0.16
0.25
0.02
50
including
140
143
3
142
0.33
0.69
0.02
158
DV26-507
N/S
DV26-510
14.58
24
9.42
250
3.32
2.18
0.01
322
including
14.58
16
1.42
836
16.9
10.25
0.01
1189
including
14.58
21
6.42
320
4.8
3.15
0.01
424
40
43.7
3.7
294
0.27
0.28
0.01
301
72
84.5
12.5
133
1.17
0.19
0.01
149
including
72
73
1
598
2.38
0.28
0.01
630
DV26-515
37.5
71
33.5
244
0.68
0.63
0.01
262
lens A
37.5
44.2
6.7
396
1.57
1.46
0.01
436
including
41
43.2
2.2
728
0.08
0.21
0.01
732
lens B
54
71
17
278
0.66
0.57
0.01
294
including
54
62
8
369
0.79
0.96
0.01
393
including
60
61
1
1060
0.4
0.43
0.01
1071
lower
98.65
165
66.35
161
0.19
0.09
0.01
165
including
108
109.63
1.63
604
0.32
0.42
0.01
614
156.66
165
8.34
641
0.09
0.19
0.01
645
DV26-517
99.6
100
0.4
622
0.01
0.07
0.01
623
125
130.27
5.27
290
1.09
0.99
0.01
318
North Star
DV26-479
300
309.32
9.32
13
0.14
0.45
0.16
31
DV26-484
316.3
317.8
1.5
170
0.91
0.09
0.2
194
321
361
40
2
0.01
0.12
0.01
5
DV26-485
298.8
302.89
4.09
358
0.24
0.67
0.19
382
DV26-489
346.8
352.8
6
19
0.08
2.71
0.02
62
DV26-492
278.8
290
11.2
103
0.37
1.69
0.04
135
290
292.75
2.75
25
0.01
0.06
0.25
41
DV26-494
265.42
270.38
4.96
750
3.45
0.5
0.15
807
including
269.38
270.38
1
2140
7.26
0.3
0.43
2254
DV26-498
256.76
265.22
8.46
121
1.05
2.28
0.01
169
DV26-499
278.7
282.98
4.28
5
0
0.74
0.01
17
DV26-503
N/S
DV26-506
293.83
319.59
25.76
10
0.27
0.51
0.2
33
including
293.83
306.27
12.44
10
0.32
0.44
0.33
40
DV26-511
247.11
264
16.89
20
0.24
0.42
0.24
43
DV26-514
254.67
299.78
45.11
7
0.09
0.76
0.13
27
DV26-516
165.54
172.26
6.72
38
0.11
0.06
0.15
49
* Intervals shown are downhole core length. Estimated true widths vary depending on intersection angles and range from 80% to 95% of core
lengths, further modelling of the new intersections is needed before true widths can be estimated. Composite intervals are reported as length-
weighted averages. N/S means no significant interval selected for reporting. Selected intervals are those interpreted to represent targeted or newly
recognized mineralized vein structures and are included because they are relevant to the current geological interpretation. **Silver Equivalents
(AgEq) are calculated using metal prices of US$53/oz for Ag, US$0.90/lb. for Pb, US$1.25/lb. for Zn and US$3,500/oz for Au. Metal recoveries
applied for the southern silver deposits are 85% for Ag, 85% for Pb, 80% for Zn and 75% for Au. These inputs result in a ratio formula AgEq = Ag +
11.64Pb + 15.22Zn + 58.27Au.
Table 2. Drill collar coordinates for drill holes reported in this release
Target
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Total Depth (m)
Torbrit
DV26-476
468172
6171425
510
225
-69
198
DV26-477
468058
6171582
462
225
-67
204
DV26-478
468172
6171425
510
225
-62
189
DV26-480
468172
6171425
510
245
-58
171
DV26-482
468172
6171425
510
280
-73
178.8
DV26-483
468058
6171582
462
225
-73
258
DV26-486
468150
6171441
496
45
-85
231
DV26-487
468150
6171441
496
320
-80
267
DV26-488
468058
6171582
462
198
-60
222
DV26-491
468058
6171582
462
190
-70
270
DV26-493
468076
6171518
448
225
-71
231
DV26-495
467807
6171742
347
50
-78
423
DV26-496
468076
6171518
448
220
-78
225
DV26-497
468076
6171518
448
220
-86
243
DV26-500
468075
6171489
433
139
-75
162
DV26-502
468075
6171489
433
225
-62
138
DV26-505
468075
6171489
433
225
-89
171
DV26-507
468021
6171475
393
225
-53
60
DV26-510
468021
6171475
393
45
-85
90
DV26-515
467998
6171518
397
160
-55
165
DV26-517
468011
6171601
446
218
-61
180
DV26-479
467549
6171226
596
126
-56
354
DV26-484
467549
6171226
596
128
-68
378
DV26-485
467549
6171226
596
125
-48
363
DV26-489
467549
6171226
596
145
-70
393
North Star
DV26-492
467623
6171317
548
125
-63
309
DV26-494
467623
6171317
548
128
-48
315.9
DV26-498
467623
6171317
548
132
-54
297
DV26-499
467623
6171317
548
120.5
-47
321
DV26-503
467653
6171356
509
114
-58
417
DV26-506
467653
6171356
509
90
-60
339
DV26-511
467653
6171356
509
113
-63
330
DV26-514
467653
6171356
509
85
-66
348
Torbrit Drill Holes
Drill holes DV26-480 and DV26-515 were drilled at the Torbrit deposit as infill and geological model
confirmation.
DV26-480 tested mineralization modelled from 1960s era drilling near the historic underground
workings at Torbrit. The drill hole cored mineralization adjacent to historic stopes and ended in
mineralization when it broke through into the workings. Mineralization consisted of Torbrit style layered
red jasper and barite underlain by low temperature epithermal hot spring type silica/barite layers and
brecciated blocks with native silver, argentite and silver sulphosalts associated with minor galena and
sphalerite (Figures 4&5).
Figure 4. Drill core from DV26-480 showing layer sequences including red jasper layers and
silica/barite low temperature layers and breccias with native silver, argentite, silver sulphosalts
associated with galena and sphalerite mineralization. NQ core size.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12610/314349_1c533b84849d291c_006full.jpg
Figure 5. Cross sectional view C-C' zoom in of Torbrit deposit showing DV26-480 relative to
historic underground workings and modelled mineralized lenses. 2026 drilling highlighted with
lithology on trace and historic underground levels and stopes in grey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12610/314349_1c533b84849d291c_007full.jpg
Drill hole DV26-515 was drilled to confirm the extent of a number of lenses or layers along the eastern
edge of the Torbrit deposit. This hole was drilled along section into the centre of the deposit. The
extension of the lenses was confirmed by encountering Torbrit style mineralization within jasper and
barite crystal layers with silver sulphosalts and argentite the predominant silver mineralization (Figure 6).
Figure 6: Drill core from DV26-515 at 105m depth. Torbrit style mineralization with mm-scale
layers of sulfosalts (black) interstitial with jasper (red) and barite (white).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12610/314349_1c533b84849d291c_008full.jpg
North Star and Connection Drill Holes
Drill holes at the North Star deposit were drilled from surface to intersect the mineralized horizon at a
better angle with modern holes for resource confirmation . Drill hole DV26-494 tested up dip of the
access adit at North Star and confirmed the thickness and continuity of mineralization (Figures 7&8).
Mineralization at North star is base metal rich with increased galena and sphalerite within a barite/silica
layer extending distal west from the Torbrit deposit.
Extension drilling confirmed the Torbrit-North Star connection in drill holes DV26-551, 548 and 545 (see
Figure 2). Assays are pending for these mineralized zones.
Figure 7: Drill core from DV26-494 at North Star from mineralized zone at 265.42 to 270.38m
grading 807 g/t AgEq over 4.96 meter. Silver mineralization is hosted in more barite/silica layered
and brecciated style.
To view an enhanced version of this graphic, please visit: