What's Happening?
Diablo Resources Limited has announced the identification of priority drill targets at its Star Range Silver–Antimony Project in Utah, USA. The company has also confirmed shallow copper mineralization
at its Phoenix Copper Project, also located in Utah. To advance these projects, Diablo has engaged TMC Geophysics to conduct a Dipole-Dipole Induced Polarisation (DDIP) survey over the STAR-01 magnetic anomaly at the North Star Prospect. This survey, set to begin in February, aims to refine drill collar locations for upcoming drilling activities. Recent rock sampling at North Star has yielded high-grade results, including significant silver, antimony, copper, and gold concentrations. The Phoenix Copper Project has shown promising results with copper mineralization intersected over a 300-meter strike, which remains open to the east and at depth. These findings are part of Diablo's broader exploration efforts in a regionally significant copper district.
Why It's Important?
The developments at Diablo Resources' projects are significant due to the rising demand for copper, driven by the global push towards electrification and renewable energy. Copper prices have recently reached record highs, reflecting increased demand and constrained supply. The successful identification of drill targets and confirmation of mineralization positions Diablo Resources to potentially capitalize on this market trend. The projects are strategically located in a Tier-1 US copper district, enhancing their potential value. The exploration success could lead to increased investment in the region and contribute to the local economy through job creation and infrastructure development. Additionally, the focus on silver and antimony, alongside copper, diversifies the company's resource base, potentially offering multiple revenue streams.
What's Next?
Diablo Resources plans to proceed with further drilling to define the extent and geometry of mineralization at both the Star Range and Phoenix Copper Projects. The upcoming DDIP survey will provide critical data to guide these efforts. As the projects advance, Diablo may seek additional funding or partnerships to support expanded exploration and potential development. The company will likely monitor copper market trends closely, as sustained high prices could influence project timelines and investment decisions. Stakeholders, including local communities and regulatory bodies, will be engaged as the projects progress, ensuring compliance with environmental and operational standards.
