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Mining industry

Diablo Resources Limited Provides Update on Phoenix Copper Project in Utah, USA

Strategic Insights

— 2 min read

Diablo Resources Limited, an Australian-based company, has issued an update regarding its ongoing exploration program at the Phoenix Copper Project in Utah, USA. Located approximately 70 kilometers southwest of Moab, the project consists of sediment-hosted copper mineralization along strike from the Lisbon Valley Copper Mine, one of the currently producing mines in the region. The company has completed its maiden drilling program, which targeted two priority prospect areas, Philadelphia and Trenton, resulting in significant discoveries of copper mineralization.

Key Takeaways:

  • Diablo Resources Limited has completed its maiden drilling program at the Phoenix Copper Project, Utah, USA, which consisted of 9 holes for 646 meters of drilling at the Philadelphia and Trenton prospects.
  • At the Philadelphia prospect, 6 holes were completed, targeting surface geochemical anomalies, and 31 rock grab samples from outcrop and dumps along 750 meters of strike averaged 6.29% Cu, ranging from 0.5% Cu to 45.7% Cu and 219 g/t Ag.
  • Chip channel sampling at Philadelphia returned significant copper mineralization, including 6 meters @ 2.13% Cu, 2 meters @ 2.40% Cu, and 10 meters @ 0.55% Cu.
  • At the Trenton prospect, three wide-spaced reconnaissance RC holes were completed over 1000 meters of strike, targeting the East Bounding Fault, a regionally important structure known to host copper mineralization.
  • Soil sampling has been completed over key target areas within the recently acquired extension claims, consolidating the highly prospective structure along the interpreted extension of the copper mineralized Philadelphia Fault.
  • The project consists of two separate areas, the CC and Stateline Claim Blocks, totaling 315 unpatented lode claims covering approximately 6,300 acres, located on Bureau of Land Management ("BLM") administered Federal lands.

Statistics:

  • 9 drill holes completed at the Philadelphia and Trenton prospects, totaling 646 meters of drilling.
  • 31 rock grab samples from outcrop and dumps along 750 meters of strike averaged 6.29% Cu, with a range of 0.5% Cu to 45.7% Cu and 219 g/t Ag.
  • Significant copper mineralization discovered at the Philadelphia prospect, including:

+ 6 meters @ 2.13% Cu

+ 2 meters @ 2.40% Cu

+ 10 meters @ 0.55% Cu

  • 3 RC holes completed at the Trenton prospect over 1000 meters of strike.
  • Soil sampling completed over 315 unpatented lode claims covering approximately 6,300 acres.

Sources:

  • Diablo Resources Limited, "Diablo Resources Limited (ASX:DBO) Provides Update on Phoenix Copper Project, Utah, USA" (no date)
  • Diablo Resources Limited, "Diablo Resources Limited (ASX:DBO) Announces Completion of Maiden Drilling Program at Phoenix Copper Project, Utah, USA" (no date)

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