Diablo Resources (ASX:DBO) expands Star Range footprint increasing landholding along prospective structural trends

Diablo Resources (ASX:DBO) expands Star Range footprint increasing landholding along prospective structural trends

February 5, 2026 Off By MarketOpen
Lyle Thorne, Chief Executive Officer of Diablo Resources, joins MarketOpen today to discuss the company’s decision to expand the Star Range Critical Minerals Project in Utah through the staking of additional ground along the North Star trend.

The conversation focuses on how this early move strengthens execution sequencing, builds confidence ahead of maiden drilling and preserves flexibility as the company advances its highest priority target.

Why was it important to secure additional ground before drilling rather than after initial results?

The decision to secure the additional 52 unpatented lode claims was driven by the interpretation that the North Star mineralised trend extends beyond the original project boundary and into open ground.

The extension covers the interpreted northerly continuation of our highest priority drill target, which means the project footprint now better reflects the scale suggested by recent mapping, sampling and geophysics.

Securing tenure ahead of drilling our priority targets give us more flexibility moving forward, allowing  the possibility of further drilling to continue along the prospective trend.

How does this expansion change your confidence in the North Star Prospect as the priority focus?

Recent mapping, sampling and geophysics had already confirmed North Star as our highest priority drill target, and the expanded ground reinforces that conclusion rather than shifting it.

The additional claims capture roughly 1000m of interpreted strike length that shows similar characteristics to our main North Star area.

This does not alter our focus but increases the amount of ground we can test methodically if drilling validates the model.

What work is being prioritised now that the expanded footprint is in place?

With the new ground secured, surface sampling and mapping have commenced across the interpreted extensions as part of the regional exploration program.

At the same time, logistics and planning are being finalised for the ground based induced polarisation survey over the North Star Prospect.

This sequencing is deliberate, as it allows us to complete datasets that directly inform drill design rather than rushing to drill on partial information.

The objective is to enter maiden drilling with a clear understanding of where to locate drill holes, so we can complete what we consider to be our prioirty holes first.

How should investors think about the scale of the opportunity implied by the extended trend?

The North Star mineralised trends are interpreted to extend over approximately 4000m of total strike, with about 1000m now captured within the newly acquired ground.

That length frames the potential scale of the system being assessed, but our approach remains disciplined. The expanded footprint gives us optionality to test additional areas over time rather than forcing a single binary outcome from an initial program.

It allows us to sequence work in a way that matches technical confidence and capital allocation, rather than compressing decisions prematurely.

What does this update signal about the pathway to maiden drilling?

This update signals that we are aligning tenure, surface work and geophysics before committing to drilling capital.

Planning for the ground based induced polarisation survey is being finalised ahead of maiden drilling, and that survey is intended to refine targeting within the North Star area.

By completing these steps first, we reduce execution risk and improve the quality of decisions once drilling begins.

The focus is on entering drilling with confidence in both the target selection and the broader project footprint that supports follow up.

Securing flexibility before capital is committed

By expanding the Star Range footprint ahead of maiden drilling, Diablo Resources is prioritising control, sequencing and optionality rather than speed for its own sake.

As Chief Executive Officer Lyle Thorne outlined, the strategy in practice is about tightening targeting inputs and ensuring that early drilling outcomes can be followed up without delay or compromise, a disciplined approach that aims to reduce risk while preserving upside as the project advances.

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