Contango ORE Inc. May 15 reported that US$5 million has been budgeted for an initial phase of exploration at the Tetlin gold project in eastern Interior Alaska.

This will mark the first exploration at Tetlin under Peak Gold LLC, a joint venture between Contango ORE and Royal Gold Inc. The first phase of the 2015 program at Tetlin will test outlying exploration targets at Tars, Saddle, North Sa...