Diablo Resources (ASX:DBO) to launch maiden drilling at Phoenix Copper Project targeting high-grade prospects in Utah

Following the announcement that RC drilling will commence this week at the Phoenix Copper Project in Utah, Diablo Resources Ltd (ASX:DBO) Chief Executive Officer Lyle Thorne addressed key investor questions.

The program will test two high-priority targets, the Trenton and Philadelphia Copper Prospects, both located along strike from the producing Lisbon Valley Copper Mine.

In this Q&A, Lyle discusses the geological significance of these prospects, the funding position, and the next steps as the company advances its maiden drill program.

When will drilling commence at the Phoenix Copper Project and which areas are being targeted?

Drilling at the Phoenix Copper Project is scheduled to start this Friday US time, kicking off our maiden RC drilling campaign.

The program will focus on two high-priority copper prospects, Trenton and Philadelphia, both located within our CC Claim Block in Utah and situated along strike from the Lisbon Valley Copper Mine.

The geological setting is comparable to Lisbon Valley, and both targets were selected after a combination of interpretation, mapping, surface sampling, and geochemical analysis conducted this year.

“Importantly, to our knowledge, this will be the first time that drilling has been carried out at either Trenton or Philadelphia, making this program an exciting step forward for the company.”

What is the geological significance of the Trenton Prospect?

The Trenton Prospect sits on the East Bounding Fault, a major regional structure known to host copper mineralisation within the Lisbon Valley district.

“Our exploration work has outlined a 1.8 kilometre long anomalous zone associated with this fault, where 16 surface rock grab samples returned an average grade of 2.79 percent copper, ranging from 0.28 percent to 8.21 percent copper.”

The Bureau of Land Management has approved 30 RC drill holes totalling 3,950 metres to test this zone, and the absence of any prior drilling at Trenton, despite its geological potential, further enhances its appeal as a first-pass target.

What makes the Philadelphia Prospect a priority target?

The Philadelphia Prospect is an historic copper mining area dating back to the early 1900s, featuring shafts and adits spread over approximately 750 metres of strike.

Copper mineralisation here is associated with a sub-vertical fault, and recent surface work has returned consistently strong results from both rock grab and chip channel sampling.

“This work has confirmed multiple high-grade copper zones, with 31 rock grab samples from outcrop and historical mine dumps averaging 6.29 percent copper, ranging from 0.5 percent to 45.7 percent copper, and silver values up to 219 grams per tonne.”

Chip channel sampling also returned noteworthy intervals, including 6 metres at 2.13 percent copper with 1 metre at 7.16 percent copper, 2 metres at 2.40 percent copper, and 3 metres at 1.28 percent copper.

The Bureau of Land Management has approved 15 RC drill holes totalling 1,470 metres to investigate these zones and test mineralisation continuity at depth.

How has the drilling program been funded?

We secured the funding for this program in July through a placement to sophisticated and professional investors, raising $396,000 before costs and this ensures we can fully execute the maiden RC drilling program as planned.

What are the next steps after drilling begins?

The immediate focus will be completing the approved RC holes at both Trenton and Philadelphia, with drilling starting on the highest-priority targets.

Representative samples from mineralised and surrounding rock zones will be collected and sent to an accredited laboratory for analysis.

“The first assay results are expected within weeks of submission, and they will provide important data on the grade, extent, and continuity of copper mineralisation at both prospects.”

These assays will help refine our geological models and guide any potential follow-up drilling. Shareholders will be updated as drilling progresses and as results become available.

Looking Ahead

The commencement of drilling at Phoenix represents a pivotal moment for Diablo Resources, as it will deliver the first subsurface data from the Trenton and Philadelphia prospects.

With the necessary funding secured and clearly defined targets in place, the company is in a position to execute the program efficiently and effectively.

The outcomes of this work will be instrumental in shaping the next phase of exploration at the Phoenix Copper Project, and shareholders can expect to be kept informed every step of the way.

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