Spartan Metals Announces Increase to Private Placement
Download PDF of News Release Not for dissemination in the United States or through U.S. newswires All dollars are Canadian unless otherwise noted April
Spartan Metals Corp is exploring for critical mineral projects that are vital to American defense, innovation and supply chain independence.
Spartan Metals is focused on developing critical minerals projects in well-established and stable mining jurisdictions in the Western United States, with an emphasis on building a portfolio of diverse strategic defense minerals such as Tungsten, Rubidium, Antimony, Bismuth, and Arsenic.
Spartan’s high quality project portfolio includes an option to earn 100% of the Victorio Tungsten-Molybdenum Project in New Mexico and the Eagle Tungsten-Silver-Rubidium Project in Nevada.
Victorio hosts the largest tungsten resource in the United States and contains significant concentrations of beryllium and fluorspar, while the Eagle Project consists of the highest-grade historic tungsten resource in the United States which includes significant under-defined resources consisting of: high-grade silver; rubidium; antimony; bismuth; indium; as well as precious and base metals.
The Eagle Project presents a unique opportunity to delineate one of the largest and highest-grade Tungsten and Rubidium districts in the United States. The project consists of the past-producing high-grade Tungstonia (W) and Rees/Antelope (W-Cu-Ag) mines. Operations at these mines were from 1915 to 1942 with intermittent small-scale production occurring until 1956. Tungsten production from these two mines totaled 8,379 units at grades between 0.6%-0.9% WO3 (1)
The Project is ~36.5 km² in size and located approximately 120 kilometers northeast of the town of Ely, in the Kern Mountains of White Pine County, Nevada. The project covers 9,033 acres consisting of 445 Bureau of Land Management (BLM) unpatented lode mining claims.
Three deposit types are present at Eagle; Porphyry, Skarn, and Carbonate Replacement (CRD) that contain significant or anomalous grades of Tungsten (W) and Rubidium (Rb) plus Cu-Ag-Sb±Au-Pb-Zn-Bi-As across three project focus areas that includes the potential to recover W-Rb-Ag from the legacy Tungstonia Mill Tailings.
Learn more about Eagle – HERE
1 – Nevada Bureau of Mines and Geology (1988), Bulletin 105 p 213-217
1 – United States Geological Survey – Tungsten Resources in the United States (Ver. 2.0 August 2020) https://www.sciencebase.gov/catalog/item/5e3dce84e4b0edb47be3d6a6
2 – WO3% equivalent calculation using $750/metric ton unit (mtu) for WO3 and $21.6/lb Mo with 75% and 75% recoveries(1), respectively. WO3%_EQ = WO3%+(Mo% x (((Mo Price x lb/mtu) x Mo Recovery)/(W price x WO3% recovery))) 1 mtu = 1% or 10 kg (22.0462 lb).
Our proven leadership team has a proven track record in critical minerals exploration with over 35 years combined experience.
Download PDF of News Release Not for dissemination in the United States or through U.S. newswires All dollars are Canadian unless otherwise noted April
Download PDF of News Release Not for dissemination in the United States or through U.S. newswires All dollars are Canadian unless otherwise noted April 2,
Download PDF of News Release Historic Measured and Indicated Resources of 77.2 million tons at 0.09 WO3% and 0.09 Mo% (0.15 WO3% equivalent)* Historic Inferred
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