Diablo Resources (ASX:DBO) has completed its acquisition of the Horn Silver Project in Utah, US, securing 80% ownership of 202 claims covering approximately 13.2km2.
The company acquired Antler Resources, which holds 80% ownership of 101 unpatented claims and option rights over 101 patented claims. Diablo will exercise the option over patented claims three to five, with all conditions now satisfied.
The historic Horn Silver Mine has produced approximately 17 million ounces of silver (Ag) and 30,000 ounces of gold (Au) at reported grades of 604 grams per tonne Ag and 1.04g/t Au.
CEO Lyle Thorne says the acquisition “provides a clear pathway to advance one of Utah’s most compelling historic polymetallic districts”.
“Together with our ongoing work at Star Range, the Company now controls two strategically located projects within a highly prospective mineral belt,” Thorne adds.
The project sits approximately 20km west of Milford in Beaver County, within the historic Frisco Mining District, and approximately 15km from Diablo’s Star Range Silver-Antimony Project.
Mineralisation occurs as structurally controlled replacement-style and breccia vein systems, together with skarn-style zones. Rock sampling across the broader area has returned results up to 1,310g/t Ag and 0.2% antimony.
The company has identified multiple exploration targets, including near-mine extensions, IP anomalies, and shallow gold-silver mineralisation.
Silver, copper, and antimony are all included on the United States’ 2025 List of Critical Minerals, with Executive Order 14415 issued in July 2026 focusing on securing domestic critical mineral supply chains.
Diablo has issued 36 million ordinary shares to seller Opal Resources as consideration, with 25% escrowed for six months and 75% for 12 months.
The company also welcomes Patrick Say as Non-Executive Director, bringing more than 20 years of industry experience.
At Star Range, the North Star Prospect is permitted for an initial 1,000m, five-hole diamond program, with approvals providing flexibility for up to 27 holes from 12 drill pads.
DBO completed a $3.5 million placement in July 2026, providing funding to advance exploration across Horn Silver and Star Range.
Diablo Resources is a US‑focused mineral exploration company advancing a portfolio of gold, copper, silver, and antimony projects across Utah, Nevada, and Idaho in the US.
Write to JC Villarba at Mining.com.au
Images: Diablo Resources
