Welcome to HotCopper’s latest Watchlist, where this week we’ve been joined by Diablo Resources (ASX:DBO) CEO Lyle Thorne to discuss shareholder approval for the explorer’s acquisition of the historic Horn Silver project in Utah, as well as final drill permits for a maiden program at the neighbouring Star Range.
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“We’re very excited with the acquisition of the Horn Silver project,” Thorne told HotCopper early in Week 28. “It gives us clear strategic upside, having both historical pedigree and modern-day exploration potential.”
“The mine was a historical producer, producing 17 million ounces of silver from the 1880s to the 1950s,” Thorne continued, before pointing out that legacy datasets have since thrown up fresh targets: “We have targets that range from near mine, along strike and at depth, through geophysical targets and geochemical anomalies, in a region that’s well known for mining and silver production.”
And, the second milestone is a first for the Australian explorer. “The final drill approvals came through for our North Star Prospect at the Star Range, so we’re ready to go and will be drilling in the coming weeks,” Thorne said.
The prospect was flagged, the Diablo chief told HotCopper, by “high-grade silver, antimony rock-chip samples, and also geophysics we did early in the year, which highlighted IP anomalies worthy of testing” – that was, surface sampling has run to 3,043 grams per tonne silver. It has never been drilled.
“Our drilling will be the first sub-surface test of these high-grade veins at surface,” he added. “The geological model that we’ve worked up in the past few months strongly… encourages us to see what lies beneath.”
The opening campaign Diablo is running will add up to roughly 1,000 metres across five holes, with approvals for up to 27 holes from 12 pads.
You can watch the full DBO Watchlist interview in the browser above.
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Disclaimer: This article is disseminated in partnership with Diablo Resources Ltd. It is intended to inform investors and should not be taken as financial advice.
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