Diablo Resources (ASX:DBO) has secured shareholder approval for its acquisition of an 80% interest in the Horn Silver Project in Utah, US.
Shareholders approved the acquisition at the general meeting on 29 June 2026, clearing the path for completion under the binding agreement.
The company acquires 80% of Antler Resources, which holds an exclusive option over 101 patented claims and directly owns 100 unpatented claims comprising the Horn Silver Project.
The Horn Silver Mine has an historical production of 17 million ounces of silver and 30,000 ounces of gold. The project covers approximately 13.2km² across 201 claims, with the patented claims providing permitting flexibility.
“The Horn Silver Project delivers a high-grade historic silver mine with immediate drill-ready targets, part of a broader district-scale mineralised system that has never been systematically explored,” CEO Lyle Thorne says.
“Beyond extending the mineralisation around the historic workings, the project hosts multiple underexplored silver, antimony, and copper targets offering substantial upside.”
Priority targets include near-mine extensions beneath and adjacent to historic workings, with a strong IP anomaly located below the historical workings interpreted as an extension of the known system.
Regional geophysics has identified priority IP targets within 500–2,000m of the Horn Silver Mine in similar structural and geological settings.
Rock sampling completed by multiple explorers across the project returned elevated silver, antimony, copper, gold, and other base metals, indicating a regional-scale geochemical footprint.
An area approximately 2km northwest of the Horn Silver Mine intersected a copper skarn mineralised system associated with numerous old workings that remains incompletely tested.
Initial exploration — including regional mapping, sampling, and data review — is underway to prioritise drill targets ahead of the maiden drill program.
On-ground exploration within the unpatented claims has commenced, including reconnaissance geological mapping and sampling.
Diablo Resources will advance permitting and drill planning for priority targets, including extensions to the historic Horn Silver Mine and regional IP anomaly targets.
Write to JC Villarba at Mining.com.au
Images: Diablo Resources
