Diablo Resources (ASX:DBO) secured the historic Horn silver project in Utah, acquiring 80% of 101 claims. Fast-track drilling and geophysics planned, backed by US critical-mineral policy and rising silver demand from defence and tech.
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Diablo Resources (ASX:DBO) completed its acquisition of Antler Resources, a deal the company called a company-changing move that clears the path to fast-track exploration at the historic Horn silver project in Utah.
Diablo now owns 80% of 101 unpatented claims at the project and holds option rights over 101 patented claims. The company said it will begin the formal process to exercise the option over patented claims 3 to 5. Multiple untested exploration targets are already lined up, including interpreted near-mine extensions, coherent induced polarisation anomalies, shallow gold-silver mineralisation and regional copper-silver skarn prospects.
“Securing our interest in the Horn silver project provides a clear pathway for Diablo to advance one of Utah’s most compelling historic polymetallic districts,” chief executive Lyle Thorne said. “Together with our ongoing work at Star Range, the company now controls two strategically located projects within a highly prospective mineral belt.”
Thorne said on-ground exploration, including drilling, geophysics and district-scale evaluation, will run across both projects over the coming months. Ownership consolidation, he said, gives the company confidence to move forward.
Silver demand is expanding beyond investment into defence systems, electric vehicles, solar panels, AI data centres and 5G infrastructure. Thorne told shareholders that recent U.S. domestic policy initiatives aimed at strengthening supply-chain security for critical minerals, including federal programs supporting domestic exploration and permitting efficiency, reinforce the importance of projects like Horn.
“We are committed to contributing to the United States’ efforts to secure reliable supplies of critical minerals and to advancing Horn silver in a manner aligned with these national priorities,” Thorne said.
Historical and modern datasets, the company said, outline a pipeline of targets with both near-mine and regional exploration potential.
The seller, Opal Resources, received 36 million ordinary fully paid shares as consideration for the deal.
DBO was steady at 1.6 cents before the market opened, giving a market capitalisation of A$8.081 million.
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