Diablo Resources is bullish on proving up King Solomon’s gold. Pic via Getty Images.
With 30Moz of undeveloped gold in Idaho, it’s almost too easy for Diablo to hit high grades
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- Grades of up to 26.26g/t Au have been intercepted from drilling at King Solomon
- Nine holes were diamond drilled to define the mineralisation of the northwest trend
- Remaining assays are due in the coming weeks
Nestled in the prolific gold-mining cradle of the northwest US – the second-largest gold-producing region in the world – Diablo Resources’ King Solomon project is a share of a reported 30Moz of undeveloped gold deposits in Idaho alone.
A total of nine holes have been completed for 2,085m in the current diamond drill program at Diablo Resources’ (ASX:DBO) King Solomon project where multiple mineralised zones were intersected, confirming the northwest trend.
The results come on the back of a $1m cap raise and recent drilling at the explorer’s Devils Canyon gold project in nearby Nevada, where an RC drill program was recently completed at the project’s Carlin Trend.
In good company
King Solomon is ~6km east of Revival Gold’s prolific Beartrack-Arnett mine, the largest producing gold mine in Idaho with an annual output of 63,000oz. Notably, it’s the second-largest new gold discovery in the US in the past 10 years.
The project comprises two mining claims and a further 268 mineral claims across ~21.85km2 in a Tier 1 mining jurisdiction with power, infrastructure and plant options nearby.
The tenure hosts numerous shallow pits and three adits located 800m southeast of the nearby Lone Pine vein zone, yet Diablo is looking deep considering previous results have returned significant gold grades from core samples.
Multiple mineralised zones
Gold mineralisation occurs in multiple mineralised zones hosted in highly altered (sericite-chlorite-tourmaline) and ferrugenised quartz veined zones in both metasediment and intrusive rocks and remains open in all directions, Diablo says.
From the latest nine holes, so far, assays have been received from holes LP23-5 to LP23-8, with results awaited pending for hole LP23-9. Significant intercepts from the program include:
- 0.86m @ 13.75g/t Au from 101.64m
- 2m @ 5.92g/t Au from 156m, including 1m @ 10.7g/t Au from 156m
- 0.52m @ 5.82g/t Au from 166.73m from hole LP23-07.
- 1.61m @ 3.79g/t Au from 31m incl. 1m @ 5.46g/t Au
- 1.5m @ 1.54g/t Au from 52m incl. 0.48m @ 3.56g/t Au
- 0.51m @ 9.62g/t Au from 52.74 from hole LP23-8.
“These encouraging results from King Solomon show the potential for high-grade mineralised zones at King Solomon and complement our initial high-grade results from LP23-04 (where core samples showed 13m @ 12.28g/t Au from 46m, including 4.1m @ 26.26 g/t Au),” Diablo CE Lyle Thorne says.
“Our drilling program, the first completed in 30 years, suggests multiple mineralised zones in varying geological settings.”
“Further interpretation and exploration are required to unlock the potential of King Solomon, both along strike and at depth.”
“We eagerly await the final assay results from our last hole at King Solomon, as well as the assays results expected in coming weeks from our recent 10 hole RC drilling programme at our Devils Canyon Gold-Copper Project in Nevada, where several shallow gold-copper targets were drill tested.”
This article was developed in collaboration with Diablo Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
