Diablo Resources (ASX:DBO) builds confidence in Star Range scale ahead of drilling

Diablo Resources Chief Executive Officer Lyle Thorne spoke with MarketOpen to further discuss recent high grade silver, antimony and copper results and what they indicate about the Star Range project in Utah. The update reflects ongoing reconnaissance sampling across South Star, North Star and the Utah TLA lease, with results confirming mineralisation across multiple target areas. With permitting submissions lodged and a maiden drill program planned for the current quarter, the focus is moving from surface sampling to initial drill testing.

This discussion centres on what has been confirmed through recent work, how targets are being advanced toward drilling, and what remains to be demonstrated at depth.

You have reported further high grade results and new zones of mineralisation, so what has materially changed in your confidence in the scale of the Star Range system since the previous update?

What has changed for us is the consistency of results across multiple prospects and datasets rather than a single isolated outcome. We are now seeing high grade silver, antimony from reconnaissance sampling at South Star and copper returned along the North Star extension, as well as new zones identified within the Utah TLA lease. This broader distribution of results supports our view that mineralisation extends across multiple areas within the project.

Importantly, these outcomes are supported by both rock and soil sampling, including a coherent copper in soil anomaly at North Star that aligns with mineralised outcrop. That alignment gives us greater confidence that mineralisation is following identifiable structural trends. At the same time, new prospect areas and an expanded project footprint have been defined, although drilling is still required to confirm continuity and geometry at depth.

With multiple target areas now defined across South Star, North Star and the Utah TLA lease, how are you allocating capital and sequencing these into the maiden drill program?

Our immediate focus is on progressing the most advanced targets into the maiden drill program while continuing to refine other areas through ongoing work. The North Star Prospect is a priority, with a defined mineralised corridor and supporting results from both historical and recent sampling. This positions it as a key initial drill target.

In parallel, South Star and the Utah TLA lease are being advanced through continued mapping and sampling to further define targets. This approach ensures that capital is directed toward areas where mineralisation has already been identified, while maintaining progress across the broader project. Permitting submissions have been lodged and logistical preparation is underway to support drilling in the current quarter.

The results are described as validating the exploration model, so which aspects of the system are now confirmed and what remains uncertain ahead of drilling?

The recent results support the presence of a mineralised system containing silver, antimony and copper across multiple prospects. We are seeing consistent mineralisation across South Star, North Star and the Utah TLA lease, with both rock and soil sampling reinforcing these trends. The identification of coherent soil anomalies, particularly at North Star, aligned with mineralised outcrop provides support for continuity along these trends.

We also see indications of zonation within the system, with copper associated closer to intrusive contacts and silver, antimony and gold occurring further from those zones. This provides a framework for targeting. What remains uncertain is how this mineralisation extends at depth, including its continuity and geometry, which is what the planned drilling program is designed to test.

With permitting submissions lodged and drilling planned for the current quarter, what are the key execution risks between now and first drilling and how are you managing them?

The key focus ahead of drilling is completing permitting and logistical requirements to enable the program to commence in the current quarter. Permitting submissions have been lodged with the relevant authorities, and work is ongoing to progress the remaining approvals and site preparation.

From an execution perspective, the primary risk is timing around approvals and readiness to mobilise. We are addressing this by progressing permitting alongside logistical planning, while continuing exploration work to refine drill targets. This ensures that when approvals are in place, the program can proceed with clearly defined priorities supported by recent sampling results.

Positioning for first drill validation

The next phase of work is centred on transitioning from surface sampling to drilling. Recent results have confirmed mineralisation across multiple areas and expanded the project footprint, while also refining priority targets. Diablo Resources will now move into its maiden drill program to test these zones and assess how mineralisation extends at depth, with the results expected to guide the next stage of exploration.

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