Spartan Metals Identifies 537 Feet (163.7 Meters) 0.23% WO3Eq or 0.31% MoEq During Historic Drilling Validation at Its Victorio Tungsten-Molybdenum Project, New Mexico
Spartan validates historic Victorio data, confirming project scale while a pending PEA determines economic viability.
Spartan Metals Corp. (W) released data validating historic drilling at its Victorio Tungsten-Molybdenum Project in New Mexico. The results highlight 34 drill holes that exceeded 100 feet (~30.5 m) of continuous tungsten-molybdenum mineralization. The most significant intercept reported is 537 ft (163.7 m) at 0.23% WO₃Eq or 0.31% MoEq.
The company noted that 26 holes were not included in the 2008 historic economic analysis, with 12 of those also excluded from the 2012 historic resource estimate. This omission suggests potential upside if these holes are incorporated into the upcoming Preliminary Economic Assessment (PEA). Additionally, Spartan Metals compared Victorio’s grade of 0.19% MoEq favorably to Freeport-McMoRan’s Henderson mine, which operates at 0.14% Mo. SRK Consulting’s PEA remains on target for early Q4 2026.
Spartan Metals Corp. released data that serves as an incremental validation of historic information rather than a new resource estimate or economic study. The market is already familiar with the scale of the Victorio project following the March 2026 acquisition announcement, which saw the stock rise from approximately C$0.40 to C$0.84 before retracing to C$0.53. The release confirms progress without introducing new material information that would alter the stock's valuation.
Spartan Metals Corp. (TSX‑V: W, OTCQB: SPRMF) is a junior explorer focused on critical minerals in the United States. The company’s Eagle Project, located in Nevada and 100% owned, covers approximately 36.5 km² and hosts past-producing high-grade tungsten-silver-rubidium veins, skarns, and CRD targets. Historic production at the site totaled approximately 8,379 t WO₃ at grades of 0.6–0.9% WO₃. Seven veins have been confirmed to date, with significant potential for silver, antimony, and copper.
The company also holds an option to earn 100% of the Victorio Project in New Mexico, which represents the largest historic tungsten resource in the US. A 2012 estimate identified 77.2 Mt Measured and Indicated resources at 0.09% WO₃ and 0.09% Mo, plus an additional 77.2 Mt Inferred. The option terms include $1.8 M in cash, a $14 M work commitment, and royalties. Both assets are considered early-stage, and no economic studies have been completed.