Diablo Resources Secures Drill Permits, Unveils High-Grade Copper Targets at Phoenix

Exploration Momentum Builds at Phoenix Copper

Diablo Resources Ltd (ASX, DBO) has reported a productive quarter at its 100% owned Phoenix Copper Project, located in the prolific Lisbon Valley Mining District straddling the Utah-Colorado border. The company’s exploration efforts have identified four high-priority targets within the Stateline Claim Block, with rock sampling results reinforcing the potential for sediment-hosted copper mineralisation analogous to the nearby producing Lisbon Valley Copper Mine.

Among the standout results, the Trenton Prospect within the CC Claim Block yielded rock grab samples with copper grades reaching 7.71% and silver up to 37 grams per tonne. Similarly, the Fair Dinkum Prospect in the Stateline Claim Block returned copper values up to 2.76% and silver up to 92 grams per tonne. These assays, while preliminary and derived from handheld XRF analysis, indicate robust mineralisation zones warranting further investigation.

Drill Permits and Upcoming Programs

Significantly, the Bureau of Land Management (BLM) has granted drill permits for the Trenton and Philadelphia Prospects, enabling Diablo Resources to plan its maiden drilling campaign for the third quarter of 2025. The Trenton Prospect drilling will target a 1.8-kilometre mineralised zone where rock samples averaged 2.79% copper, while the Philadelphia Prospect, a historical copper mine site, will see up to 15 reverse circulation holes testing mineralisation over a 750-metre strike.

The company has also submitted a drilling permit application for the Fair Dinkum Prospect, with approval pending. This methodical approach to exploration, combining geological mapping, geochemical sampling, and now drilling, positions Diablo Resources to potentially delineate significant copper resources in a district with proven production history.

Broader Project Portfolio and Financial Position

Beyond Phoenix, Diablo Resources secured a five-year exploration permit for its King Solomon Gold Project in Idaho, expanding its footprint in North American precious metals exploration. Meanwhile, the Devils Canyon Project in Nevada, located near major gold mines, remains under strategic review.

Financially, the company ended the quarter with $178,000 in cash and successfully completed a placement raising $396,000 through the issue of shares and options, subject to shareholder approval. This capital injection is timely to support the upcoming drilling programs and ongoing exploration activities.

While no production or development activities were undertaken during the quarter, the groundwork laid through exploration and permitting advances Diablo Resources’ prospects toward resource definition and potential value creation.