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Contango Announces S-K 1300 Technical Report Summary with Robust Economics and One Year Payback for its Johnson Tract Project
Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce that it has completed the Technical Report Summary ("TRS") on the Johnson Tract Project (the "Project" or "Johnson Tract"), located in Alaska, U.S.A. The TRS summarizes the results of an Initial Assessment ("IA") of the potential viability for a seven-year life of mine ("LOM"), underground mining operation, utilizing the same direct ship ore ("DSO") approach as the highly successful Manh Choh mine.
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"FAIRBANKS, AK, May 6, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce that it has completed the Technical Report Summary ("TRS") on the Johnson Tract Project (the "Project" or "Johnson Tract"), located in Alaska, U.S.A. The TRS summarizes the results of an Initial Assessment ("IA") of the potential viability for a seven-year life of mine ("LOM"), underground mining operation, utilizing the same direct ship ore ("DSO") approach as the highly successful Manh Choh mine.","length":617,"tagName":"p"},{"type":"image","alt":"Contango Ore logo (CNW Group/Contango Ore)","displaySize":"","headline":null,"caption":"Contango Ore logo (CNW Group/Contango Ore)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/prnewswire.com/5e81cd8f5e09158800ce4524b2e89721"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/HTUqAKwTsx0w7NdV7YwdPw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/5e81cd8f5e09158800ce4524b2e89721","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/2680059/Contango_Ore_Contango_Announces_S_K_1300_Technical_Report_Summar.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Rick Van Nieuwenhuyse, the Company's President and Chief Executive Officer said: "We are very pleased to release the results of our Initial Assessment for our Johnson Tract Project. Assuming a price of $2,200 per ounce of gold as the "Base Case", the Project generates a Post-Tax NPV5 of $225 million and IRR of 30% with a one-year payback from commencement of commercial production. Assuming a price of $3,000 per ounce of gold price demonstrates an NPV5 of approximately $400 million and IRR of 45% with less than a year payback from commencement of production. Initial capital costs are estimated at a modest $214 million with an all-in-sustaining cost ("AISC")1 of $860 per gold equivalent ounce ("GEO") sold at an average GEO ore grade estimated at 7.58 grams per tonne ("g/t"). Based on current resources, it is estimated that Johnson Tr...