Diablo Resources Limited (ASX:DBO) (“Diablo” or the “Company”) is pleased to announce highly encouraging assay results from its maiden scout drill program at the 100% owned Phoenix Copper Project (“Phoenix” or the “Project”) in Utah, USA. Phoenix is located ~70km southwest of Moab, along strike from the currently producing 740Mlb Lisbon Valley Copper Mine (“LVCC”) within the Tier-1 Lisbon Valley Mining District.
HIGHLIGHTS
- Maiden scout drilling confirms shallow copper oxide mineralisation, open in all directions and at depth at the Philadelphia Prospect. Significant results include:
- 10.5m @ 1.02 Cu% (Inc. 1.5m @ 3.99% Cu) from 36.5m in hole PHIL25-10.
- 1.5m @ 1.33% from 32m in hole PHIL25-10.
- Phoenix Project is located along strike from the currently producing 740Mlb Lisbon Valley Copper Mine (LVCC) within the world-class Lisbon Valley Mining District, Utah, USA1,2.
- Mineralisation is associated with the regionally significant Philadelphia Fault with results pending on recent soil sampling targeting its SW extension.
- Follow-up drilling scheduled for mid-November, including maiden drilling at the Fair Dinkum prospect along strike from Flying Diamond and Lone Wolf deposits in the Lisbon Valley1,2.
CEO, Lyle Thorne commented:
“Our maiden scout drill program at Phoenix has returned some exciting results at Philadelphia, intersecting a shallow mineralised copper zone in the northernmost hole that is open in all directions and at depth. Follow-up drilling is scheduled to commence in mid-November and will include our maiden drill program at the high-priority Fair Dinkum prospect, located directly along strike from known copper deposits in the Lisbon Valley.
Exploration is also underway at our recently acquired Star Range Silver-Antimony Project in Utah, where surface sampling and mapping have commenced ahead of an airborne magnetic survey scheduled for November. With drilling and exploration advancing concurrently across both assets, investors can expect steady, value-driving news flow over the coming months.”
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