Diablo Resources Limited has formally exercised its exclusive option over 101 patented claims, completing the tenure consolidation of the Horn Silver Project in Beaver County, Utah.

The transaction brings the patented ground together with the company's existing 101 unpatented claims, establishing a unified 13.2-square-kilometre footprint under a single coordinated exploration strategy. The consolidated package includes the historic Horn Silver Mine, which is credited with past production of approximately 17 million ounces of silver at a grade of 604 g/t Ag alongside 30,000 ounces of gold.

The underlying project interest was secured through the purchase of Antler Resources LLC in August 2026, which delivered an 80% stake in the 101 unpatented claims alongside the option rights over the patented claims. To fund ongoing exploration across its Utah assets, Diablo completed a A$3.5 million placement in July 2026.

Recent first-pass reconnaissance sampling across the unpatented claims has reinforced the broader exploration pipeline, returning high-grade polymetallic assays across multiple prospects. Highlights include 4,190 g/t Ag, 1.40 g/t Au and 2.41% Cu at the Buckhorn Prospect, and 18.05 g/t Au, 199 g/t Ag and 2.07% Cu at the Michigan Prospect. Additional high-grade results were returned from the Washington and Accrington prospects, mapping out a district-scale mineralised footprint.

On-ground mapping, rock sampling and structural interpretation are now advancing to systematically rank priority targets ahead of a planned maiden drilling program.

“The Horn Silver Project combines a historically high-grade silver mine and multiple near- mine and regional exploration targets across a large interpreted polymetallic system that has seen limited recent systematic exploration. The recent high-grade rock sampling results have added further depth to that target pipeline and will help guide our next phase of work.”

— Lyle Thorne, CEO

The Horn Silver operations run in parallel with the company's Star Range Project, located approximately 15 kilometres away in Utah, where a maiden diamond drilling program is currently underway at the North Star Prospect.

Read the full announcement: Option Exercised - Horn Silver Project Exploration underway