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Diablo Resources Limited ( (AU:DBO) ) has shared an update.
Diablo Resources has secured a geophysical contractor to begin an induced polarisation survey in February at its high-priority North Star target within the Star Range Silver-Antimony Project in Utah, where rock sampling has returned very high-grade silver at surface. The IP work, targeting a magnetic anomaly along an intrusive-sediment contact considered prospective for skarn and carbonate-replacement mineralisation, will support permitting and drill planning as the company advances towards a maiden drilling program and expands first-pass exploration over newly staked claims.
At its Phoenix Copper Project, Diablo reported that maiden drilling at the Fair Dinkum prospect intersected shallow copper-silver oxide mineralisation associated with the Flying Diamond Fault, which has now been traced for over 1,000 metres and remains open along strike and at depth. Located in the Lisbon Valley Mining District near the producing Lisbon Valley Copper Mine and proposed in-situ leach developments, these results provide multiple follow-up drill targets and position the company to benefit from strong copper market conditions driven by supply constraints and electrification demand.
The most recent analyst rating on (AU:DBO) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Diablo Resources Limited stock, see the AU:DBO Stock Forecast page.
More about Diablo Resources Limited
Diablo Resources Limited is an Australian-listed mineral exploration company focused on precious and base metals projects in the United States, particularly in Utah. Its primary assets are the Star Range Silver-Antimony Project and the Phoenix Copper Project, both located in well-established mining districts with existing infrastructure and proximity to historic and current production.
Average Trading Volume: 1,188,123
Technical Sentiment Signal: Sell
Current Market Cap: A$5.66M
Find detailed analytics on DBO stock on TipRanks’ Stock Analysis page.