Historic Horn Silver Mine acquisition expands district-scale silver-antimony-copper footprint with multiple drill-ready targets
Diablo Resources Limited (ASX: DBO) is pleased to announce the acquisition of an 80% interest in the Horn Silver Project in Utah, USA, significantly expanding the Company’s position within one of the most historically productive and highly prospective silver-antimony districts in the United States.
The acquisition provides Diablo with exposure to the historic Horn Silver Mine, which historically produced approximately 17Moz silver and 30,000oz gold at average grades of 604g/t silver and 1.04g/t gold. Importantly, mineralisation remains open at depth and along strike, with multiple high-priority drill-ready targets already identified.
The Project is located approximately 15km from Diablo’s existing Star Range Silver-Antimony Project, enabling the Company to consolidate a district-scale exploration position across a historically significant and underexplored mineral system.
The acquisition comes amid increasing global interest in US-based critical minerals and precious metals projects, particularly silver, antimony and copper, which are considered strategically important commodities for energy security, industrial applications and defence supply chains.
Highlights from the Horn Silver Project include:
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Acquisition of an 80% interest in the Horn Silver Project, Utah
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Historic high-grade silver producer with ~17Moz silver and 30,000oz gold produced
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Multiple drill-ready targets with mineralisation open at depth and along strike
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Shallow high-grade gold-silver mineralisation confirmed outside historic workings
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Untested induced polarisation (IP) anomalies coincident with known mineralisation
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Rock sampling confirming a district-scale silver-antimony system with results up to 1,310g/t Ag and 0.2% Sb
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Historical drilling confirming several copper-silver skarn-style prospects requiring follow-up
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Project covers approximately 13.2km² across 201 claims, including 101 patented claims
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Drill programs planned to commence across multiple high-priority targets
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Utah ranked the number one mining jurisdiction globally in the Fraser Institute’s Annual Survey of Mining Companies
The Company also announced firm commitments to raise A$3.5 million through a placement to sophisticated investors and existing shareholders, with funds to be used to advance exploration activities at both the Horn Silver and Star Range Projects.
Diablo Resources CEO Lyle Thorne commented:
“The acquisition of the Horn Silver Project, represents a significant step forward for Diablo, securing a high-grade historic mine with immediate drill-ready targets and clear potential for expansion.
Alongside the opportunity to extend mineralisation at and around the historic mine, the broader project area offers substantial upside, with multiple underexplored silver, antimony and copper targets identified across a large, consolidated landholding.
Importantly, the Project provides a strong pipeline of near-term drilling opportunities supported by existing data and permitting advantages while also offering longer term discovery potential at a district scale.
Located just 15km from our Star Range Project, this acquisition strengthens our position in a highly prospective and historically productive mining district enabling a coordinated exploration strategy across both assets.
We believe this combination of near term activity and district scale opportunity positions the Company to deliver meaningful exploration results throughout the year.”
The Horn Silver Project acquisition further strengthens Diablo’s strategic exposure to critical minerals and precious metals in the United States, with the Company now controlling a significant exploration footprint across the emerging Star Range-Horn Silver district.
Management believes the combination of near-term drilling catalysts, district-scale exploration upside and exposure to silver, antimony and copper positions the Company strongly amid growing investor focus on US-based critical minerals supply chains.
Planned exploration activities include drilling of shallow near-mine targets at Horn Silver, testing geophysical and geochemical targets, and advancing drilling at the North Star target within the Star Range Project.
The placement will occur in two tranches, with the first tranche expected to settle on or around 12 May 2026 and the second tranche subject to shareholder approval.
About us:
About Diablo Resources
Diablo Resources Limited (ASX:DBO) is focused on the exploration and development of critical minerals and precious metals projects in tier-one jurisdictions, with a growing portfolio of silver, antimony and copper assets in Utah, USA.
The Company’s flagship Star Range Project and newly acquired Horn Silver Project are located within a historically productive mining district with significant exploration upside and multiple drill-ready targets.
Diablo is focused on delivering shareholder value through systematic exploration, discovery and advancement of district-scale mineral systems.
Media & Investor Enquiries
Lyle Thorne
Chief Executive Officer
Diablo Resources Limited
Email: [email protected]
Website: www.diabloresources.com.au
