What's Happening?
Diablo Resources has received shareholder approval to acquire an 80% interest in the Horn Silver Project located in Utah, USA. This approval was granted during a general meeting held on June 29, 2026, allowing the company to proceed with the acquisition
under a binding agreement. The Horn Silver Project, historically known for producing 17 million ounces of silver and 30,000 ounces of gold, spans approximately 13.2 square kilometers across 201 claims. The project includes both patented and unpatented claims, providing flexibility in permitting. Diablo Resources plans to explore and extend mineralization around the historic workings, with a focus on silver, antimony, and copper targets. Initial exploration activities, including regional mapping and sampling, are underway to prioritize drill targets for a maiden drill program.
Why It's Important?
The acquisition of the Horn Silver Project by Diablo Resources is significant for the U.S. mining industry, particularly in the context of silver and gold production. The project’s historical output and potential for further mineralization could enhance the company’s portfolio and contribute to the local economy in Utah. By focusing on underexplored targets, Diablo Resources aims to unlock substantial mineral resources, which could lead to increased production and job creation. The project also highlights the ongoing interest and investment in U.S. mining operations, which are crucial for meeting domestic and international demand for precious metals.
What's Next?
Diablo Resources plans to advance permitting and drill planning for priority targets, including extensions to the historic Horn Silver Mine and regional IP anomaly targets. The company will continue on-ground exploration activities, such as reconnaissance geological mapping and sampling, to refine drill targets. These efforts are expected to culminate in a maiden drill program aimed at expanding the known mineralization and discovering new resources. The success of these initiatives could attract further investment and partnerships, enhancing the project's development and economic impact.
