DBO: Annual Report 2026
Original announcement by asx on
- Company
- DIABLO RESOURCES LIMITED
- Ticker
- DBO
- Exchange
- ASX
- Region
- United States
- Primary commodity
- Silver
- Secondary commodities
- Copper, Antimony, Gold
- Document categories
- Drill results, Agreement transaction, Other
- Extracted
- 2026-09-22 10:11:31 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Diablo Resources Limited reported its annual financial results for the year ended June 30, 2026, showing a loss but highlighting significant operational advancements. The company progressed exploration at its Phoenix Copper Project, including maiden drilling at Stateline and further drilling at Philadelphia, confirming shallow copper-oxide mineralization with high-grade intercepts. Post-year-end, Diablo completed a 'transformational acquisition' of the high-grade Horn Silver Project in Utah, a historic silver-gold mine, significantly expanding its critical minerals portfolio and strengthening its district-scale position.
Reasoning: The company reported a financial loss and a going concern warning, but also announced positive exploration drill results confirming mineralization and a significant, 'transformational' acquisition of a high-grade silver project, enhancing its critical minerals portfolio.
Positive factors
- Confirmation of copper mineralization in maiden drill program
- High-grade copper intercepts at Philadelphia
- Transformational acquisition of a historic high-grade silver-gold mine
- Strengthening of district-scale position in critical minerals
Negative factors
- Material uncertainty related to going concern
- No QA/QC disclosure for drill results
- Apparent width only reported for drill intercepts
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 10
Classification and evidence
Maiden Drillingpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The document explicitly states 'maiden drilling program testing near-surface copper-oxide mineralisation at Stateline'.
Evidence · text
“Work during the period consisted of maiden drilling program testing near-surface copper-oxide mineralisation at Stateline”
Shallow Mineralizationpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The document describes the Philadelphia drilling as confirming a 'shallow copper-oxide system'.
Evidence · text
“confirming shallow copper-oxide system with strong structural association and open along strike.”
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: The document does not disclose any QA/QC procedures, certified labs, or QP sign-off for the drill results.
Evidence · text
“Eight wide-spaced drill holes (722 m in total) confirmed copper over ~300 m of strike, including intercepts of - 9.2 m @ 0.26% Cu, 18 g/t Ag, - 6.1 m @ 0.55% Cu, 6 g/t Ag, and - 12.2 m @ 0.35% Cu, 13 g/t Ag.”
Apparent Width Onlynegative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: The drill intercepts are given as downhole lengths without any mention of true width or drill orientation.
Evidence · text
“Eight wide-spaced drill holes (722 m in total) confirmed copper over ~300 m of strike, including intercepts of - 9.2 m @ 0.26% Cu, 18 g/t Ag, - 6.1 m @ 0.55% Cu, 6 g/t Ag, and - 12.2 m @ 0.35% Cu, 13 g/t Ag.”
Strategic Acquisitionpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The acquisition of the Horn Silver Project is described as a 'transformational acquisition' for the company.
Evidence · text
“The period included a transformational acquisition of a high-grade US silver project”
High Gradepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The Horn Silver Project is described as a 'historic high-grade silver-gold mine that produced 17 Moz silver at an average grade of 604 g/t Ag'.
Evidence · text
“securing a historic high-grade silver-gold mine (Horn Silver Mine) that produced 17 Moz silver at an average grade of 604 g/t Ag”
District Scale Potentialpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The acquisition of the Horn Silver Project is stated to be 'strengthening the company’s district-scale position'.
Evidence · text
“strengthening the company’s district-scale position through a major silver acquisition at the Horn Silver Project subsequent to year end.”
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: The Horn Silver Project is noted to be 'located only 15 km from Star Range', implying value from proximity to another company asset.
Evidence · text
“located only 15 km from Star Range”
Extracted facts
Stored fact records: 10. Some facts used in scoring do not have a stored record.
Drill Results (10)
Fact 1Phoenix · copperGrade: 0.26Grade Unit: %Intercept: 9.2 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- copper
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 0.26
- Grade Unit
- %
- Intercept
- 9.2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Stateline
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Maiden drilling confirmed copper mineralization at a moderate grade for porphyry copper, indicating initial success for the exploration program.
Positive factors
- Maiden drilling confirmed copper mineralization
- Grade is moderate for porphyry copper
Negative factors
- Apparent width only reported
- No QA/QC disclosure
Evidence · text
“9.2 m @ 0.26% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 2Phoenix · silverGrade: 18Grade Unit: g/tIntercept: 9.2 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- silver
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 18
- Grade Unit
- g/t
- Intercept
- 9.2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Stateline
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Maiden drilling confirmed silver mineralization, but the grade is weak, contributing less to the overall prospectivity.
Positive factors
- Maiden drilling confirmed silver mineralization
Negative factors
- Apparent width only reported
- No QA/QC disclosure
- Grade is weak for silver
Evidence · text
“18 g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 3Phoenix · copperGrade: 0.55Grade Unit: %Intercept: 6.1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- copper
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 0.55
- Grade Unit
- %
- Intercept
- 6.1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Stateline
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Maiden drilling confirmed copper mineralization with a strong grade for porphyry copper, adding to the positive initial results.
Positive factors
- Maiden drilling confirmed copper mineralization
- Grade is strong for porphyry copper
Negative factors
- Apparent width only reported
- No QA/QC disclosure
Evidence · text
“6.1 m @ 0.55% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 4Phoenix · silverGrade: 6Grade Unit: g/tIntercept: 6.1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- silver
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 6
- Grade Unit
- g/t
- Intercept
- 6.1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Stateline
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Maiden drilling confirmed silver mineralization, but the grade is weak, contributing less to the overall prospectivity.
Positive factors
- Maiden drilling confirmed silver mineralization
Negative factors
- Apparent width only reported
- No QA/QC disclosure
- Grade is weak for silver
Evidence · text
“6 g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 5Phoenix · copperGrade: 0.35Grade Unit: %Intercept: 12.2 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- copper
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 0.35
- Grade Unit
- %
- Intercept
- 12.2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Stateline
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Maiden drilling confirmed copper mineralization at a moderate grade for porphyry copper, indicating initial success for the exploration program.
Positive factors
- Maiden drilling confirmed copper mineralization
- Grade is moderate for porphyry copper
Negative factors
- Apparent width only reported
- No QA/QC disclosure
Evidence · text
“12.2 m @ 0.35% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 6Phoenix · silverGrade: 13Grade Unit: g/tIntercept: 12.2 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- silver
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 13
- Grade Unit
- g/t
- Intercept
- 12.2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Stateline
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Maiden drilling confirmed silver mineralization, but the grade is weak, contributing less to the overall prospectivity.
Positive factors
- Maiden drilling confirmed silver mineralization
Negative factors
- Apparent width only reported
- No QA/QC disclosure
- Grade is weak for silver
Evidence · text
“13 g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 7Phoenix · copperGrade: 1.02Grade Unit: %Intercept: 10.5 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- copper
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 1.02
- Grade Unit
- %
- Intercept
- 10.5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Philadelphia
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Drilling confirmed a shallow copper-oxide system with an exceptional copper grade, indicating strong mineralization.
Positive factors
- Exceptional copper grade for porphyry copper
- Confirmed shallow copper-oxide system
Negative factors
- Apparent width only reported
- No QA/QC disclosure
Evidence · text
“10.5 m @ 1.02% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 8Phoenix · copperGrade: 3.99Grade Unit: %Intercept: 1.5 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- copper
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 3.99
- Grade Unit
- %
- Intercept
- 1.5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Philadelphia
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This high-grade sub-interval shows exceptional copper grades within the shallow copper-oxide system, highlighting significant mineralization.
Positive factors
- Exceptional copper grade for porphyry copper
- Confirmed shallow copper-oxide system
Negative factors
- Apparent width only reported
- No QA/QC disclosure
Evidence · text
“1.5 m @ 3.99% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 9Phoenix · copperGrade: 1.33Grade Unit: %Intercept: 1.5 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Phoenix
- Commodity
- copper
- Region
- usa_id
- Reported Region
- usa_id
- Ticker
- DBO
Geometry
- Grade
- 1.33
- Grade Unit
- %
- Intercept
- 1.5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Philadelphia
- Loc. Source
- document
QA/QC
- QP Signed
- No
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Drilling confirmed a shallow copper-oxide system with an exceptional copper grade, indicating strong mineralization.
Positive factors
- Exceptional copper grade for porphyry copper
- Confirmed shallow copper-oxide system
Negative factors
- Apparent width only reported
- No QA/QC disclosure
Evidence · text
“1.5 m @ 1.33% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 10Horn Silver ProjectView all detailsHide details
Identity
- Project
- Horn Silver Project
- Region
- usa_ut
- Reported Region
- Utah
- Ticker
- DBO
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The acquisition of the Horn Silver Project is described as 'transformational' and brings a historic high-grade silver-gold mine into the company's portfolio, significantly enhancing its critical minerals strategy and district-scale position.
Positive factors
- Transformational acquisition of a high-grade silver project
- Historic production of 17 Moz silver at 604 g/t Ag
- Strengthens district-scale position
- Favourable permitting conditions with patented claims
Evidence · text
“On 17 August 2026, the Company announced it had completed the acquisition of Antler Resources LLC (the Acquisition), securing 80% ownership of 101 unpatented claims and the option rights over 101 patented claims at the Horn Silver Project in Utah, USA and has exercised the Option over the Horn Silver Project patented claims, with all conditions precedent under the Option Agreement now satisfied.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.