First Pass Scout Drilling yields 10.5m at 1.02% copper in Phoenix

Diablo resources limited (ASX:DBO) (“Diablo” or the “Company”) is pleased to announce very encouraging test results from its initial exploration program at the 100% owned Phoenix Copper Project (“Phoenix” or the “Project”) in Utah, USA. Phoenix is ​​located approximately 45 miles southwest of Moab, along the strike of the currently producing 740 million pound Lisbon Valley Copper Mine (“LVCC”) in the Tier-1 Lisbon Valley Mining District.

HIGHLIGHTS

• Maiden Scout drilling confirms shallow copper oxide mineralization, open in all directions and at depth at the Philadelphia Prospect. Significant results include:
  • 10.5 m @ 1.02 Cu% (incl. 1.5 m @ 3.99% Cu) from 36.5 m in hole PHIL25-10.
  • 1.5 m @ 1.33% from 32 m in hole PHIL25-10.
• Phoenix Project is located along strike of the currently producing 740Mlb Lisbon Valley Copper Mine (LVCC) in the world class Lisbon Valley Mining District, Utah, USA.^1,2.
• Mineralization is associated with the regionally important Philadelphia Fault, results of which are pending from recent soil sampling focused on the SW extension.
• Follow-up drilling planned for mid-November, including initial drilling at the Fair Dinkum prospect along the strike of Flying Diamond and Lone Wolf deposits in the Lisbon Valley^1,2.

CEO, Lyle Thorne commented:

“Our initial exploration program in Phoenix has produced some exciting results in Philadelphia, intersecting a shallow copper mineralized zone in the northernmost hole that is open in all directions and at depth. Follow-up drilling is scheduled to begin in mid-November and will include our first drill program at the high-priority Fair Dinkum project, located immediately along the strike of known copper deposits in the Lisbon Valley.

Explorations are also underway at our recently acquired Star Range Silver-Antimony Project in Utah, where surface sampling and mapping have begun ahead of an airborne magnetic survey scheduled for November. With drilling and exploration activity ramping up simultaneously in both assets, investors can expect a steady, value-driven news flow in the coming months.”

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