Diablo Resources Launches Maiden Drilling at High-Grade Phoenix Copper Project
Diablo Resources has commenced its first-ever drilling campaign at the Phoenix Copper Project in Utah, targeting two promising prospects with strong surface copper indications. The fully funded program aims to unlock new copper resources near a major producing mine.
- Maiden RC drilling starts at Trenton and Philadelphia prospects
- Targets located near producing Lisbon Valley Copper Mine in Utah
- 45 drill holes approved, totaling 5,420 meters
- Program fully funded by recent $396,000 placement
- No prior drilling at these high-grade copper targets
Drilling Begins at Untapped Copper Prospects
Diablo Resources Ltd (ASX, DBO) has officially kicked off its maiden reverse circulation (RC) drilling program at the Phoenix Copper Project in Utah, marking a significant milestone for the company. The project, located approximately 70 kilometers southwest of Moab, sits along strike from the producing Lisbon Valley Copper Mine, a well-known copper operation with reported reserves of 276 million pounds of copper.
The drilling campaign targets two priority areas within the CC Claim Block, the Trenton and Philadelphia prospects. Both sites have shown promising surface copper mineralisation but have never been drilled before, making this the first exploration effort to test their subsurface potential.
Strategic Location and Geological Promise
The Trenton Prospect is particularly intriguing due to its association with the East Bounding Fault, a major structural feature known to host copper mineralisation in the region. Surface rock samples here have averaged 2.79% copper, with some samples reaching as high as 8.21%. Meanwhile, the Philadelphia Prospect, which includes historical mine workings from the early 1900s, has yielded even higher surface grades, averaging 6.29% copper and notable silver content, with samples up to 45.7% copper.
These encouraging surface results underpin the rationale for the drilling program, which has received approval from the Bureau of Land Management (BLM) for 45 holes totaling 5,420 meters. The drilling will test the continuity and extent of these high-grade zones beneath the surface, potentially unlocking new copper resources in a prolific mining district.
Fully Funded and Ready to Deliver Results
Backing this exploration push is a recent successful capital raising, where Diablo Resources secured $396,000 from sophisticated and professional investors. This funding ensures the maiden RC drill program is fully financed, with drilling operations contracted to Alaska Midnight Sun Drilling Inc, a Nevada-based specialist.
CEO Lyle Thorne expressed optimism about the campaign, highlighting the thorough preparatory work that led to the identification of these targets. He emphasized the company's commitment to keeping shareholders informed as drilling progresses and assay results become available in the coming weeks.
Looking Ahead
The Phoenix Copper Project drilling represents a critical step in Diablo Resources' strategy to advance a near-mine copper exploration play in a proven district. Should the drilling confirm substantial mineralisation, it could significantly enhance the project's value and position the company for further development or partnership opportunities.
Investors and market watchers will be keenly awaiting assay results, which will provide the first concrete data on the subsurface copper potential at Trenton and Philadelphia. The coming weeks promise to be pivotal for Diablo Resources as it transitions from exploration to resource definition.
Bottom Line?
Diablo’s maiden drilling at Phoenix could redefine its copper prospects; results will be a key market catalyst.
Questions in the middle?
- Will the drilling confirm the high-grade copper mineralisation suggested by surface samples?
- How might positive results impact Diablo Resources’ valuation and future funding options?
- What are the next steps if significant mineralisation is intersected at Trenton or Philadelphia?
