Diablo’s $2M Raise Risks Dependence on Untested Star Range Exploration Results
Diablo Resources has secured $2 million to acquire the Star Range Silver-Antimony Project in Utah, aiming to capitalize on high-grade critical minerals amid growing U.S. strategic supply initiatives.
- Completed $2 million capital raise to fund acquisition
- 100% ownership of Star Range Project covering ~2,100 acres in Utah
- Historical silver grades up to 8,760 g/t and significant antimony presence
- Immediate exploration activities to commence with Utah-based technical team
- Project aligns with U.S. 2025 Critical Minerals List and federal investment plans
Strategic Acquisition in a Tier-1 Jurisdiction
Diablo Resources Limited has taken a decisive step in expanding its footprint in the critical minerals sector with the completion of a $2 million capital raise. The funds will enable the company to acquire 100% of the Star Range Silver-Antimony Project in southwestern Utah, a region known for its mining-friendly policies and rich mineral history. Spanning approximately 2,100 acres, the project offers a compelling opportunity given its proximity to historic mines and existing infrastructure.
Exceptional Historical Grades and Untapped Potential
The Star Range Project boasts impressive historical rock sampling results, with silver grades reaching as high as 8,760 grams per tonne and antimony concentrations exceeding 1% at surface. These bonanza grades, particularly at the South Star and North Star prospects, highlight the project's high-value potential. Notably, much of the previous exploration did not focus on antimony, suggesting significant upside remains to be unlocked. Despite sporadic exploration over the past two decades, no drilling has yet been conducted, leaving a substantial gap for modern exploration techniques to fill.
Capital Raise Fuels Growth and Exploration Momentum
The capital raise, strongly supported by both new and existing investors, underscores market confidence in Diablo's U.S. critical minerals strategy. CEO Lyle Thorne emphasized the transformational nature of the acquisition, which complements the company's existing Phoenix Copper Project. With funds secured, Diablo's Utah-based technical team is set to commence systematic sampling and structural mapping immediately, aiming to prioritize targets and advance the project swiftly.
Alignment with U.S. Critical Minerals Policy
The timing of this acquisition aligns closely with the U.S. Department of Interior's 2025 Critical Minerals List, which now includes silver and antimony among other key commodities. This federal recognition is coupled with plans for up to US$1 billion in investment to bolster domestic supply chains, reflecting the strategic importance of these minerals for national security and advanced technologies. Diablo's move positions it well to benefit from this supportive policy environment and potential government funding.
Looking Ahead, Exploration and Development Plans
Beyond immediate fieldwork at Star Range, Diablo is also advancing exploration at its Phoenix Copper Project, with drilling planned at the high-priority Fair Dinkum Prospect. The company is actively seeking additional critical mineral opportunities across the United States, signaling an ambitious growth trajectory. As assay results from upcoming drilling programs become available, market participants will be watching closely for confirmation of the project's economic potential.
Bottom Line?
Diablo’s acquisition and capital raise mark a pivotal moment as it seeks to unlock high-grade critical minerals amid rising U.S. strategic demand.
Questions in the middle?
- What will initial drilling results reveal about the true scale and grade continuity at Star Range?
- How will Diablo leverage potential U.S. federal funding to accelerate project development?
- Could further acquisitions or partnerships expand Diablo’s critical minerals portfolio in the U.S.?
