Diablo Resources (ASX:DBO) shareholders approve acquisition of 80% interest in Horn Silver Project, Utah
Diablo Resources has advised that shareholders have approved the Company’s strategic acquisition of an 80% interest in the Horn Silver Project in Utah, USA, at the General Meeting held on 29 June 2026.
The approval relates to the acquisition of an 80% interest in Antler Resources LLC, which holds an exclusive option over 101 patented claims and directly owns 100 unpatented claims comprising the Horn Silver Project.
Completion of the acquisition will proceed under the binding agreement.
Highlights
Shareholders approve acquisition of an 80% interest in the Horn Silver Project
Horn Silver Mine has historical production of 17 Moz silver (Ag) and 30,000 oz gold (Au)
Project comprises approximately 13.2 km2 across 201 claims including 101 patented claims
Exploration opportunities identified across the broader project area
Initial exploration including mapping, sampling and data review underway
Maiden drill program scheduled for 2026, subject to permitting
The Horn Silver Project is located in the San Francisco Mining District, Utah, USA, an area around the Horn Silver Mine that has seen approximately 150 years of exploration and mining activity, and includes patented and unpatented claims held by Antler Resources LLC.
The Horn Silver Mine is reported to have historical production of 17 Moz silver (Ag) and 30,000 oz gold (Au), and the Project covers approximately 13.2 km² across 201 claims, including 101 patented claims and 100 unpatented claims.
The Company has identified exploration opportunities across the broader project area, including untested extensions beneath and along strike from historic workings, geophysical induced polarisation anomalies near mine and regionally, and district scale polymetallic geochemical anomalies.
Rock sampling across the Project has returned elevated Ag, Sb, Cu, Au and base metal values, and an area approximately 2 km north west of the Horn Silver Mine (Imperial Area) is reported to contain Cu skarn mineralisation associated with historical workings.
On ground exploration has commenced, including reconnaissance geological mapping and sampling across unpatented claims.
A review of existing geophysical, geological and geochemical datasets is underway to define and prioritise targets.
Diablo Resources Chief Executive Officer Lyle Thorne stated:
“Securing shareholder approval marks a significant milestone for Diablo that clears the path to complete the transaction and immediately launch our exploration programs to unlock value across this exceptional Project.”
The Company states that integration and interpretation of historical exploration data is underway, and permitting and drill planning are in progress for priority targets including extensions to the historic Horn Silver Mine and regional induced polarisation anomalies.
A maiden drill program is scheduled for 2026, subject to permitting.