Diablo Resources (ASX:DBO) has received ‘significant and encouraging’ drill results from the recent diamond drill program conducted at the King Solomon Gold Project in Idaho, US.
The gold-focused explorer completed a 9-hole drill program, which intersected multiple mineralised zones in both granite and sediment hosted by highly altered and quartz veined zones.
‘Significant’ assays include drillhole LP23-07 with 0.86m @ 13.75g/t Au from 101.64m, and 2m @ 5.92g/t Au from 156m, including 1m @ 10.70g/t Au from 156m; and drillhole LP23-8 with 1.61m @ 3.79g/t Au from 31m, including 1m @ 5.46g/t Au.
Commenting on the results, Diablo Resources Chief Executive Officer (CEO) Lyle Thorne says: “These encouraging results from King Solomon show the potential for high-grade mineralised zones at King Solomon and complement our initial high-grade results from LP23-04.
“Our drilling program, the first completed in 30 years, suggests multiple mineralised zones in varying geological settings“
Our drilling program, the first completed in 30 years, suggests multiple mineralised zones in varying geological settings. Further interpretation and exploration are required to unlock the potential of King Solomon, both along strike and at depth.”
Mineralisation remains open in all directions, with further drilling planned next year.
Remaining results are anticipated to be received in the coming weeks and Diablo says it will update the market accordingly.
Diablo Resources is an ASX-listed explorer, focused on gold discoveries. The company’s portfolio of assets include the Devil’s Canyon, Lone Pine, and Western Desert projects.
As of 30 June 2023, the company had $2.524 million cash and cash equivalents at hand, according to its latest quarterly report. Subsequent to the end of June, Diablo conducted a placement raising $1 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Diablo Resources
