Key Highlights

  • Diablo Resources (ASX:DBO) announced on 8 September 2026 that its 80%-owned subsidiary Antler Resources exercised an option over 101 patented claims forming the core of the Horn Silver Project in Utah.
  • The project tenure now totals 13.2 square kilometres across 202 patented and unpatented claims, including the historic Horn Silver Mine, credited with about 17 million ounces of silver at 604g/t and 30,000 ounces of gold.
  • Recent sampling returned values including 4,190g/t silver at the Buckhorn Prospect, and mapping and sampling will now precede a planned maiden drilling program.

Diablo Resources Limited (ASX:DBO, OTCQB:DBORF) announced on 8 September 2026 that its 80%-owned subsidiary, Antler Resources Limited, formally exercised the exclusive option over 101 patented claims forming the core of the Horn Silver Project in Beaver County, Utah.

This article describes the company, the sector context, the announcement and the factors that may influence the project.

About Diablo Resources

Diablo Resources Limited is an ASX-listed exploration company, also quoted on the OTCQB, with an office in Mount Hawthorn, Western Australia. Through its 80%-owned subsidiary Antler Resources, it holds an interest in the Horn Silver Project in Utah, including 101 unpatented claims and now the option over 101 patented claims.

The company also has the Star Range Project in Utah, about 15 kilometres from Horn Silver, where maiden drilling is under way at the North Star target. Diablo does not report production revenue.

Sector backdrop

In the United States, mineral claims may be patented or unpatented. Patented claims convey title to the claim holder, while unpatented claims are held under federal mining law. Consolidating both types allows a company to plan exploration, permitting and drilling over a connected project area.

Historical production figures for old mines are generally taken from earlier records and are not current resources. The announcement cites about 17 million ounces of silver at 604g/t and 30,000 ounces of gold from the historic Horn Silver Mine.

Induced polarisation (IP) surveys are used to find sulphide-bearing zones that may host silver, copper and other metals, and IP anomalies are then drill tested.

Option exercise announced on 8 September 2026

Tenure and targets

The option exercise completes consolidation of the project tenure across 13.2 square kilometres and 202 claims. The target pipeline includes Horn Silver Mine Extensions, where IP anomalies coincide with interpreted extensions beneath and adjacent to the historic mine; the Gossan target, an untested IP anomaly in a structural setting; Buckhorn, with high-grade surface mineralisation near historical workings; Imperial, a copper-skarn target about 2 kilometres north-west of the mine; Horn South, with shallow gold-silver mineralisation on the periphery of the mine; and the Washington and Accrington prospects.

Sampling results

First-pass sampling from the unpatented claims returned 4,190g/t silver, 1.40g/t gold and 2.41% copper at Buckhorn; 1,730g/t silver and 5.74g/t gold, 1,475g/t silver, 7.57g/t gold and 3.37% copper, and 1,045g/t silver, 3.51g/t gold and 0.12% antimony at Washington; 985g/t silver and 6.99% copper and 861g/t silver and 4.16% copper at Accrington; and 18.05g/t gold, 199g/t silver and 2.07% copper, 6.23g/t gold and 2.14% copper, and 2.78g/t gold and 793g/t silver at Michigan. These are selected samples. On-ground mapping, sampling and structural interpretation will now advance across priority targets ahead of the planned maiden drilling.

The announcement lists further targets beyond the main pipeline, including Horn South, with shallow gold-silver mineralisation on the periphery of the historic mine, and describes structural and geochemical corridors for systematic follow-up. The patented claims include the historic Horn Silver Mine together with Imperial (copper), Washington (silver), Accrington (copper-silver) and Gossan targets. The company says the exercise of the option advances the acquisition of the patented claim package that complements the existing 101 unpatented claims, and that the Horn Silver Project has seen limited recent systematic exploration.

Core growth drivers and material operating risks

Core growth drivers

The items identified are the target ranking at Horn Silver, the planned maiden drilling program, the coordinated approach with Star Range and continuing drilling at North Star.

Material operating risks

The historical production figures are not a resource, and the sampling results are selected rock samples that are not representative of average grade. The project has limited modern systematic exploration and has not been drilled by the company. Permitting in the United States is required for drilling, and the company will need funding for both Utah projects.