Diablo Resources Ltd (ASX: DBO) has identified and staked the 100% owned Phoenix Copper Project, located in southwestern USA, lying proximal to the Utah/Colorado border, and sediment hosted copper mineralization has been located within the project and lies along strike from an operating copper mine in a similar geological setting.
Initial reconnaissance work has returned:
• +750m of outcropping copper mineralized strike, open in several directions
• Rock chip sampling assays up to 45.7% copper
• Rock sample assays average 6.29% copper
Diablo’s CEO, Lyle Thorne, commented, “With a strong technically focused US-based team DBO has spent the past 12 months looking to identify a high-value copper opportunity. We are thrilled to have identified the Lisbon Valley and Phoenix as a high-value, near-mine copper project with known high-grade copper and numerous other high priority targets to explore.”
The project was identified through DBO’s US-based technical team, providing a low-cost entry into a prolific copper producing region with the State of Utah that produced 700Mlbs of copper in 2023, ranking it as the second largest copper producing state in the USA.
Diablo will commence exploration works immediately, consisting of geochemical sampling, geological mapping and sampling of prospective structural trends, and detailed structural interpretation aimed at locating favourable settings for copper mineralization.
The Philadelphia Prospect and the identified structures/sedimentary host rocks provide immediate targets for copper exploration similar to that being exploited at the Lisbon Valley Copper Mine. The company’s intent is to drill test identified priority targets in 2025.
To find out more, please visit www.diabloresources.com.au
To read more articles like this, please visit www.theassay.com/news
