Diablo Resources shareholders back 80% Horn Silver acquisition

Diablo Resources shareholders approved the company’s acquisition of an 80% interest in the Horn Silver Project in Utah, clearing the way for completion under a binding agreement. The project includes a historic mine that produced 17 million ounces of silver and 30,000 ounces of gold, plus multiple drill-ready targets across a 13.2 square kilometer district-scale land package.

Why it matters: - The Horn Silver Project gives Diablo Resources access to a historic high-grade silver asset with near-term drill targets and broader district-scale exploration upside. - The project adds a large mineralized land package in Utah, where permitting flexibility and existing data could speed up drilling. - The acquisition could expand Diablo Resources’ exposure to silver, gold, copper, antimony and other base metals.

What happened: - Diablo Resources shareholders approved the company’s acquisition of an 80% interest in Antler Resources LLC at a general meeting on 29 June 2026. - Antler Resources LLC holds an exclusive option over 101 patented claims and directly owns 100 unpatented claims that make up the Horn Silver Project in Utah, USA. - The approval clears the way for completion of the transaction under the binding agreement. - The announcement was released from Beaver, Utah, on 1 July 2026.

The details: - The Horn Silver Mine has historical production of 17 million ounces of silver and 30,000 ounces of gold. - The project covers about 13.2 square kilometers across 201 claims, including 101 patented claims. - Diablo Resources says the patented-claim structure provides permitting flexibility and supports accelerated exploration. - The Horn Silver Project has never been systematically explored as a district-scale mineralized system. - Priority targets include untested extensions beneath and along strike from the historic mine. - Geophysical induced polarization anomalies near the mine and across the district are also being targeted. - Regional geochemical anomalies support the interpretation of a large mineralized system. - On-ground work has started, including regional mapping, sampling and data review. - Diablo Resources is using the legacy dataset to prioritize drill targets for its maiden drill program. - The San Francisco Mining District has seen about 150 years of exploration and mining activity. - The project area has been explored by multiple companies over time, but the system remains incompletely tested. - The Imperial Area, about 2 kilometers northwest of the historic mine, contains a copper skarn system that previous explorers drilled and left open in all directions. - Rock sampling across the project returned elevated silver, antimony, copper, gold and other base-metal values.

Between the lines: - The deal appears designed to convert a historic mine district into a modern exploration story with multiple shots at a discovery. - The combination of patented claims, known mineralization and existing geophysical data reduces some early-stage exploration risk, though drilling is still needed to confirm scale and continuity. - The company is leaning on a broad critical-minerals thesis, not just silver, to widen the project’s potential appeal.

What's next: - Diablo Resources plans to complete the acquisition and keep validating historical geological, geophysical and geochemical data. - The company will continue mapping, rock-chip sampling and target ranking across the project. - Permitting and drill planning are advancing for extensions to the historic mine and regional IP anomaly targets. - Diablo Resources expects its maiden drill program in 2026, subject to permitting. - CEO Lyle Thorne said the company will move to launch exploration programs after completion of the transaction and thanked shareholders for their support.

The bottom line: - Diablo Resources now has shareholder approval to pursue a larger Utah silver-and-base-metals exploration package with multiple drill targets and a path toward first drilling in 2026.