Diablo Resources acquires high-grade Utah Silver Project

Diablo Resources (ASX:DBO) announced an expansion of its exploration footprint in Utah through the acquisition of an 80% interest in the historic Horn Silver Project.

The move consolidates a district-scale position, situated just 15km from the company’s existing Star Range Silver-Antimony Project.

The Horn Silver Project is a renowned historic producer, boasting past yields of approximately 17 million ounces of silver and 30,000 ounces of gold at grades of 604 g/t Ag and 1.04 g/t Au, respectively.

Current geological assessments indicate that mineralisation remains open at depth and along strike, with several drill-ready targets already identified.

Recent rock sampling has further validated the site's potential, confirming a district-scale silver-antimony system with results reaching 1,310 g/t Ag.

Historical drilling has highlighted copper-silver skarn-style prospects, including a notable intercept of 54m at 1.4% copper.

The project encompasses roughly 13.2km2 across 201 claims. Significantly, 101 of these are patented claims, which offers the company enhanced permitting flexibility and the ability to accelerate its exploration timeline.

To support this acquisition and the upcoming drilling programmes at both Horn Silver and Star Range, Diablo Resources has secured $3.5 million in firm commitments through a placement to sophisticated investors.

At the time of reporting, Diablo Resources’ share price was $0.018.