DBO onboards new Lisbon Valley Copper Project, initial sampling returns 45.7% copper & 219g/t silver
Highlights
- New Phoenix Copper Project (Project), located along strike from the currently producing 740Mlb Lisbon Valley Copper Mine (LVCC) within the world-class Lisbon Valley Mining District, Utah, Colorado, USA1.
- Initial reconnaissance work has returned:
- +750m of outcropping copper mineralised strike, open in several directions;
- Rock chip sampling assays up to 45.7% Copper;
- Rock sample assays average 6.29% Copper.
- With 750m of strike and LVCC drilling up to the Project boundary, DBO will undertake near near-mine exploration in the shadows of one of Utah's most prolific copper mines.
- Copper mineralisation (malachite) has been identified along trend from the LVCC drilling.
- Project was identified through DBO's US-based technical team, providing a low-cost entry into a prolific copper producing region with the State of Utah that produced 700 Mlbs of copper in 2023 ranking it as the 2nd largest copper producing state in the USA
NEXT STEPS
Exploration underway with mapping and sampling programs to deliver drill targets expected to be tested in 2025.
Diablo's CEO Lyle Thorne commented:
"With a strong technically focused US-based team DBO has spent the past 12 months looking to identify a high-value copper opportunity. We are thrilled to have identified the Lisbon Valley and Phoenix as a high-value, near-mine copper Project with known high-grade copper and numerous other high priority targets to explore.
These near-mine opportunities in world-class mining districts are rare and the team has hit the ground running with exploration underway, designed to define zones of copper mineralisation for drill targeting.
Previous exploration appears limited within the project and the Company will immediately apply its local expertise together with modern exploration techniques to investigate a number of quality targets. We look forward to generating high-value drill targets for the 2025 exploration season."
