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- Secures 80% ownership of 101 unpatented claims and option rights over 101 patented claims.
- Project hosts historic Horn silver mine in Utah
- Mine produced 17,000,000 oz of silver and 30,000 oz gold
- Significant exploration upside to follow-up
Diablo Resources (ASX:DBO) is planning to fast-track exploration at the historic Horn silver project in Utah, USA after finalising a company-changing deal.
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The company has completed the acquisition of Antler Resources and secured 80% ownership of 101 unpatented claims and the option rights over 101 patented claims at the project.
Diablo now intends to commence the formal procedure to exercise the option over the project patented claims 3–5 within Horn.
The company is already planning to follow up multiple untested exploration targets including interpreted near mine extensions, coherent induced polarisation (IP) anomalies, shallow gold-silver mineralisation and regional copper-silver skarn prospects.
“Securing our interest in the Horn silver project provides a clear pathway for Diablo to advance one of Utah’s most compelling historic polymetallic districts,” CEO, Lyle Thorne, said.
“Together with our ongoing work at Star Range, the company now controls two strategically located projects within a highly prospective mineral belt.
“With ownership consolidated, we can move forward confidently with on-ground exploration (including drilling, geophysics, and broader district-scale evaluation) across both Horn Silver and Star Range projects over the coming months.”
Silver is increasingly recognised as both a precious and strategic metal, with growing demand from defence systems, electric vehicles, solar panels, AI data centres, and 5G infrastructure.
Mr Thorne said recent US domestic policy initiatives aimed at strengthening supply chain security for critical minerals, including federal programs supporting domestic exploration, permitting efficiency, and strategic-metal development.
He told shareholders this further reinforce the importance of projects like Horn within the national context.
“We are committed to contributing to the United States’ efforts to secure reliable supplies of critical minerals and to advancing Horn silver in a manner aligned with these national priorities.”
Historical and modern datasets outline a robust pipeline of targets with both near mine and regional exploration potential.
In consideration for the acquisition, the company has issued 36,000,000 ordinary fully paid shares to the seller, Opal Resources.
DBO was steady at 1.6¢ with a Mkt cap of $8.081M prior to markets opening.
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