Diablo Resources (ASX:DBO) highlights Utah exploration progress and critical minerals strategy

Diablo Resources (ASX:DBO) has set its focus firmly on the United States, where it is advancing two high-value exploration projects in Utah that are closely aligned with the country’s critical minerals strategy.

With copper, silver and antimony all under increasing supply pressure and attracting government attention, the company is working to position its Star Range and Phoenix projects as potential contributors to America’s future supply chain.

Chief Executive Officer Lyle Thorne has provided further detail on the significance of these projects, recent exploration highlights and the near-term milestones investors should be aware of.

Can you explain the significance of your projects in Utah in the context of the US critical minerals strategy?

Utah is recognised as a tier one jurisdiction for mineral exploration, where both of Diablo’s critical minerals projects are located, with a long history of mining activity supported by strong infrastructure and a skilled workforce that creates a reliable environment for advancing exploration.

From a policy standpoint, the United States Government has identified critical minerals as a strategic priority.

Copper and silver have been proposed for inclusion on the 2025 Critical Minerals List, while antimony is already recognised as critical due to its role in defence and energy storage applications.

“Policy changes have also made permitting through the Bureau of Land Management more efficient, reducing the time it takes to progress projects.”

With exposure to three critical commodities in a mining-friendly state, Diablo is aligned with the US Government’s goal of securing domestic supplies of strategically important resources.

What are the key exploration results so far from the Star Range Silver Antimony Project?

The Star Range Project covers approximately 2,100 acres and lies close to the historical Horn Silver Mine, which was once one of the largest silver producers in the United States, yielding 17 million ounces of silver, 25 thousand ounces of gold and 9 million pounds of copper from just a single 20 acre claim.

Within Diablo’s ground, historical rock sampling has confirmed the presence of high-grade mineralisation.

“At the South Star prospect, historical rock sampling yielded results to 8,760 grams per tonne silver with antimony greater than 1 percent, as well as additional assays of 3,900 grams per tonne and 2,920 grams per tonne silver.”

The North Star prospect has also produced notable assays such as 3,620 grams per tonne silver, 1,380 grams per tonne silver with 0.5 percent antimony, and 621 grams per tonne silver with 0.6 percent antimony.

Historical soil programs outlined anomalies extending 1.5 kilometres at North Star and 400 metres at South Star, providing a clear framework for further exploration.

The company plans to follow up with detailed mapping, geochemical sampling and airborne magnetics before undertaking a maiden drill program in the first quarter of 2026.

What has been discovered at the Phoenix Copper Project and why is it considered high priority?

Phoenix covers 315 lode claims across 25.5 square kilometres and sits along strike from the Lisbon Valley Copper Mine, the second largest copper producer in Utah with an annual production capacity of 24 thousand tonnes of copper cathode and total reserves and resources of 370 thousand tonnes.

The CC claim block has delivered strong early results.

“At Philadelphia, Thirty-one samples averaged 6.3 percent copper, with values ranging up to 45.7 percent copper and 219 grams per tonne silver.”

Channel sampling at the Philadelphia prospect has confirmed these values, and Diablo has completed six RC holes with assays pending.

The nearby Trenton prospect returned 18 rock samples averaging 2.79 percent copper along 1.8 kilometres of strike, with assays up to 8.21 percent copper. These prospect areas had not been drill tested until Diablo’s program this year.

At the Stateline block, the Fair Dinkum prospect rock samples averaging 0.98 percent copper with highs of 2.76 percent copper and 92 grams per tonne silver over 100m of outcrop were received earlier this year, supported by visible malachite observed in old drill spoil.

The Companys first drilling program at Fair Dinkum is scheduled for the fourth quarter of 2025.

How do you see the supply and demand balance evolving for copper, silver and antimony and what does this mean for Diablo?

Copper demand is projected to rise by around 70 percent to more than 50 million tonnes annually by 2050, yet new discoveries are increasingly rare, with only four identified globally between 2019 and 2023.

Many current mines are ageing and declining in grade, and production is expected to fall by about 15 percent by 2035, even as demand increases.

Silver demand is being driven by its expanding role in industrial and green technologies such as solar panels, electric vehicles and electronics, while maintaining its position as a precious metal.

“Antimony has already experienced a dramatic increase in price, driven by constrained supply and emerging new demand.”

This is due to both China’s dominance in supply and the introduction of new technologies such as liquid metal batteries, which sit alongside traditional uses like flame retardants and alloys.

Diablo’s projects therefore provide exposure to commodities that are already under pressure and closely tied to US government supply chain priorities.

What are the next steps and near term milestones investors should look out for?

At Phoenix, Diablo is awaiting assays from maiden drilling at both the Philadelphia and Trenton prospects, while preparations are underway for drilling at the Fair Dinkum prospect in the Stateline block during the fourth quarter of 2025.

At Star Range, exploration will begin with mapping and geochemistry, followed by airborne magnetics to refine structural targets, leading into a maiden drilling program in the first quarter of 2026.

The company expects to deliver a steady flow of exploration updates across both projects during late 2025 and early 2026, with catalysts including drilling, sampling and geophysical results.

In parallel, the team continues to review new opportunities in the US critical minerals sector.

Looking ahead

Diablo Resources is advancing exploration on two strategically located projects in Utah, both of which are aligned with national priorities to secure domestic supplies of copper, silver and antimony.

With pending assays from Phoenix, drilling scheduled at Stateline, and a maiden program at Star Range in early 2026, the coming months are aiming to provide a sequence of exploration news flow that could shape the future potential of the company’s portfolio.

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