Diablo Resources (ASX:DBO) advances Phoenix Copper Project in Utah and broadens US ambitions

Diablo Resources (ASX:DBO) has completed its maiden drilling program at the Phoenix Copper Project in Utah, marking an early milestone in its push to establish a meaningful presence in the United States critical minerals sector.

The program, which focused on the Philadelphia and Trenton prospects, comes as the company prepares for a high-impact drilling campaign at its Fair Dinkum Prospect later this year.

Highlights

• Maiden drilling completed at Phoenix Copper Project, assays pending in coming weeks

• Soil sampling programs wrapped up across extensions of the Philadelphia Fault, results awaited

• Fair Dinkum Prospect drilling scheduled for Q4 2025, with outcrop samples peaking at 2.76% Cu and 92 g/t Ag

• Growth options under review across copper, cobalt, antimony and rare earths

• US administration considering a US$5 billion critical minerals investment fund, offering a supportive macro tailwind

Located about 70 kilometres southwest of Moab, the Phoenix Project lies directly along strike from the Lisbon Valley Copper Mine, which hosts a resource of 740 million pounds of copper.

Diablo’s nine-hole, 646-metre program represents the first modern drilling at the project, with assays now in the laboratory and expected in the coming weeks.

Surface results from Philadelphia highlight the potential, with rock grabs averaging 6.29 per cent copper, peaking at 45.7 per cent copper and 219 grams per tonne silver.

Chip channel sampling returned intervals such as six metres at 2.13 per cent copper, including one metre at 7.16 per cent.

These figures illustrate the fertility of the mineralised Philadelphia Fault, which has historical workings dating back to the early 1900s.

The Fair Dinkum Prospect is emerging as a priority, located five kilometres southeast of the Lone Wolf Deposit and two kilometres east of the Flying Diamond Deposit.

At surface, copper mineralisation has been mapped for more than 100 metres, averaging 1.12 per cent copper and peaking at 2.76 per cent, with maiden drilling scheduled for the December quarter.

Alongside these activities, Diablo Resources is reviewing expansion opportunities in the US critical minerals space, targeting copper, cobalt, antimony and rare earths.

The broader strategy reflects a favourable backdrop, with the US government advancing plans for a US$5 billion fund to accelerate domestic supply of strategic minerals.

Chief executive Lyle Thorne said:

“The successful completion of our maiden drilling program at Phoenix represents a pivotal milestone for Diablo. With assays now in the lab and soil sampling programs completed, momentum is building towards a high-impact Q4 campaign at our flagship Fair Dinkum Prospect. Importantly, our growth strategy extends well beyond Phoenix, we are actively assessing expansion into additional US critical minerals opportunities in order to capitalise on the strong demand scenario being created in the US with the US Government’s push for a home grown critical minerals industry.”

The remainder of 2025 will be crucial as Diablo awaits results from Phoenix and commences drilling at Fair Dinkum.

With exploration momentum building and policy tailwinds in its favour, the company is positioning itself to capture a role in North America’s emerging critical minerals supply chain.

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