ROHSTOFF INTERNATIONAL

22:40 | 20.03.2017
Contango ORE, Inc. Gives Operational Update

Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) is pleased to
provide an update on operations being conducted by Peak Gold, LLC, a
joint venture between the Company and Royal Alaska, LLC (“Royal”), a
wholly owned subsidiary of Royal Gold, Inc., managed by Royal, on the
joint venture’s gold exploration project in Tetlin, Alaska.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170320006283/en/
The map depicts the 2017 Drill Holes (Graphic: Business Wire)
Since our last update, the joint venture resumed drilling in February
2017 in a program designed to extend open-ended mineralization at North
Peak, and to drill initial test holes in other prospects prior to the
spring thaw. Drilling at North Peak is ongoing and results to date have
extended the resource as detailed below. The attached map shows the
location of the 2017 drill collars and the Significant Intercept table
shows assay results for previously unreleased drill holes. We expect to
test other undrilled prospects this summer that are near Main Peak and
North Peak, focusing on resistivity/magnetic anomalies that have similar
characteristics to our known resource areas.

The data below includes 9 new drill holes between TET17312 and TET321
and some new intervals in previously released drill holes as shown on
the accompanying base map. Sample intervals are calculated using 0.5
grams per tonne (gpt) lower cut off for gold with no internal waste less
than cutoff grade that is greater than 3 meters in thickness. Intercepts
shown are drill intercept lengths. True width of mineralization is
unknown:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Zone
 

 
Drill Hole
 

 
From (meters)
 

 
To (meters)
 

 
Interval(meters)
 

 
Au_gpt
 

 
Au_gpt x Interval
North Peak

 

 

TET17312

 

 

4.27

 

 

33.39

 

 

29.12

 

 

7.12

 

 

207.33

North Peak

 

 

TET17312

 

 

36.79

 

 

37.59

 

 

0.80

 

 

4.93

 

 

3.94

North Peak

 

 

TET17313**

 

 

3.66

 

 

31.70

 

 

28.04

 

 

8.80

 

 

246.75

North Peak

 

 

TET17313**

 

 

37.62

 

 

39.92

 

 

2.30

 

 

4.67

 

 

10.74

North Peak

 

 

TET17313**

 

 

79.07

 

 

84.43

 

 

5.36

 

 

3.20

 

 

17.15

North Peak

 

 

TET17313**

 

 

85.95

 

 

86.87

 

 

0.92

 

 

9.03

 

 

8.31

North Peak

 

 

TET17314

 

 

137.02

 

 

139.90

 

 

2.88

 

 

1.23

 

 

3.54

North Peak

 

 

TET17315

 

 

81.95

 

 

83.06

 

 

1.11

 

 

2.43

 

 

2.70

North Peak

 

 

TET17316

 

 

20.49

 

 

26.44

 

 

5.95

 

 

2.56

 

 

15.23

North Peak

 

 

TET17316

 

 

87.03

 

 

87.97

 

 

0.94

 

 

2.79

 

 

2.62

North Peak

 

 

TET17316

 

 

100.18

 

 

105.16

 

 

4.98

 

 

1.00

 

 

4.98

North Peak

 

 

TET17317

 

 

38.95

 

 

46.57

 

 

7.62

 

 

8.72

 

 

66.45

North Peak

 

 

TET17318

 

 

116.91

 

 

117.16

 

 

0.25

 

 

64.20

 

 

16.05

North Peak

 

 

TET17320*

 

 

50.90

 

 

57.52

 

 

6.62

 

 

7.81

 

 

51.70

North Peak

 

 

TET17321*

 

 

49.99

 

 

52.20

 

 

2.21

 

 

2.28

 

 

5.04

* Incomplete assays received

 

** Twin hole to TET17312

 

Brad Juneau, the Company’s President, commented, “We are encouraged that
mineralization at North Peak is still open in several directions, and as
such we are delaying our resource update until later in the second
calendar quarter of 2017 to fully incorporate current drilling. Since
late 2016, the joint venture has staked additional claims of
approximately 68,000 acres of State of Alaska lands adjacent to the
Tetlin project. This land was selected based on our drilling results,
the reinterpretation of our proprietary geological, geophysical, and
geochemical data, as well as recently released public data provided by
the Alaska Division of Geological and Geophysical Surveys. The joint
venture has designated this area as the Noah prospect, and plans to
begin initial exploration this summer on the claims.”
ABOUT CORE
CORE is a Houston-based company that engages in the exploration in
Alaska for gold and associated minerals through Peak Gold, LLC, its
joint venture company with Royal Alaska, LLC. Additional information can
be found on our web page at www.contangoore.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding CORE
that are intended to be covered by the safe harbor “forward-looking
statements” provided by the Private Securities Litigation Reform Act of
1995, based on CORE’s current expectations and includes statements
regarding future results of operations, quality and nature of the asset
base, the assumptions upon which estimates are based and other
expectations, beliefs, plans, objectives, assumptions, strategies or
statements about future events or performance (often, but not always,
using words such as “expects”, “projects”, “anticipates”, “plans”,
“estimates”, “potential”, “possible”, “probable”, or “intends”, or
stating that certain actions, events or results “may”, “will”, “should”,
or “could” be taken, occur or be achieved). Forward-looking statements
are based on current expectations, estimates and projections that
involve a number of risks and uncertainties, which could cause actual
results to differ materially from those, reflected in the statements.
These risks include, but are not limited to: the risks of the
exploration and the mining industry (for example, operational risks in
exploring for, developing mineral reserves; risks and uncertainties
involving geology; the speculative nature of the mining industry; the
uncertainty of estimates and projections relating to future production,
costs and expenses; the volatility of natural resources prices,
including prices of gold and associated minerals; the existence and
extent of commercially exploitable minerals in properties acquired by
CORE; potential delays or changes in plans with respect to exploration
or development projects or capital expenditures; the interpretation of
exploration results and the estimation of mineral resources; the loss of
key employees or consultants; health, safety and environmental risks and
risks related to weather and other natural disasters); uncertainties as
to the availability and cost of financing; inability to realize expected
value from acquisitions; inability of our management team to execute its
plans to meet its goals; and the possibility that government policies
may change or governmental approvals may be delayed or withheld,
including the inability to obtain any mining permits. Additional
information on these and other factors which could affect CORE’s
exploration program or financial results are included in CORE’s other
reports on file with the Securities and Exchange Commission. Investors
are cautioned that any forward-looking statements are not guarantees of
future performance and actual results or developments may differ
materially from the projections in the forward-looking statements.
Forward-looking statements are based on the estimates and opinions of
management at the time the statements are made. CORE does not assume any
obligation to update forward-looking statements should circumstances or
management’s estimates or opinions change.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170320006283/en/


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