Diablo Resources has acquired an 80% stake in the historic Horn Silver Project, complementing its nearby Star Range assets and advancing exploration with a maiden drill program approved.
- Acquisition of 80% interest in Horn Silver Project approved
- Historic mine produced 17 Moz silver at 604 g/t grade
- High-grade anomalies confirmed at Star Range extend mineral trends
- Maiden drilling approved for North Star Prospect with 27-hole flexibility
- A$3.5 million placement funds exploration and project advancement
Historic Horn Silver Mine Acquisition Bolsters US Critical Minerals Portfolio
Diablo Resources (ASX:DBO) has significantly broadened its US critical minerals footprint with shareholder approval to acquire an 80% interest in the Horn Silver Project in Utah. This historic site, located just 15 kilometres from Diablo’s Star Range Project, is no ordinary asset: the Horn Silver Mine produced approximately 17 million ounces of silver at an exceptional grade of 604 grams per tonne and 30,000 ounces of gold at 1.04 g/t.
The acquisition gives Diablo control over 201 claims, including 101 patented claims that streamline access and permitting. Importantly, the project area hosts multiple untested exploration targets, including near-mine extensions, strong induced polarisation (IP) anomalies, and regional copper-silver skarn prospects, offering a pipeline of immediate and longer-term drilling opportunities.
Star Range Project Advances with High-Grade Sampling and Drill Permit
Meanwhile, exploration at the nearby Star Range Project continues to deliver promising results. Recent geochemical sampling identified high-grade silver up to 534 g/t, antimony to 0.19%, copper at 1%, and gold up to 1.04 g/t. These assays have extended known mineralised trends at South Star and defined new zones on the Utah TLA lease and North Star NE extension.
The South Star soil anomaly alone stretches over 1,000 metres and remains open to the northeast, establishing it as a significant regional target. Geological mapping and integrated sampling have refined priority targets, supporting the upcoming maiden diamond drill program at North Star. The program, now fully permitted, allows for approximately 1,000 metres across five holes, with flexibility for up to 27 holes from 12 drill pads, marking a major step in testing the district-scale silver-antimony-copper system.
Capital Raising Fuels Exploration Momentum
Backing these initiatives is a strongly supported A$3.5 million placement completed in two tranches. The first tranche raised $764,400 in May, while the second tranche, approved by shareholders in late June and completed in July, contributed a further $2.74 million. These funds are earmarked for drilling near-mine targets at Horn Silver, advancing regional exploration, and executing the North Star drill program at Star Range.
Exploration expenditure during the quarter totalled A$208,000, with administrative costs at A$127,000. The company ended the quarter with A$1.25 million in cash, reflecting a net increase driven by financing activities.
Strategic Synergies and Next Steps in Utah
The proximity of Horn Silver and Star Range not only consolidates Diablo’s position in a historically productive mining district but also offers operational efficiencies in permitting, exploration, and drilling logistics. The combination of near-mine extensions, multiple untested IP anomalies, and regional copper-silver prospects paints a picture of a large, underexplored mineral system with substantial upside potential.
With the maiden drill program now underway at North Star and immediate drilling targets identified at Horn Silver, the coming months will be critical in testing the geological models and unlocking value from these complementary assets.
Bottom Line?
Diablo’s acquisition and exploration push in Utah set the stage for a pivotal drilling campaign that could redefine its critical minerals potential in a proven mining district.
Questions in the middle?
- Will maiden drilling at North Star confirm the scale of the silver-antimony-copper system?
- How quickly can Diablo convert the multiple untested targets at Horn Silver into drill-ready prospects?
- What operational efficiencies will emerge from managing adjacent projects in the Utah mining district?