Spartan Metals Targets Nevada Tungsten Revival as U.S. Seeks Critical Mineral Independence

• Spartan Metals Corp is a Nevada-based exploration company focused on the Eagle project, a past-producing district with two historic tungsten mines and a high-grade copper-silver mine
• CEO Brett Marsh brings 25 years of geology experience and aims to leverage historic data from World War II-era mining operations to identify modern exploration targets at the Tungstonia tungsten deposit
• The company plans maiden drilling in early spring 2026 after completing surface mapping, soil sampling, and geophysical surveys (CSAMT/MT) to develop 3D geological models
• Approximately 10,000 tons of historic tailings grading 0.15% tungsten trioxide present a near-term monetization opportunity, with drilling scheduled to begin October 20th for metallurgical analysis
• Recent $2.25 million financing fully funds the Phase 1 exploration program, positioning Spartan to capitalise on U.S. government interest in domestic critical minerals production

As the United States seeks to reduce dependence on foreign critical mineral supplies, Spartan Metals Corp has emerged as a focused exploration company targeting domestic tungsten production in Nevada. The company's Eagle project encompasses a past-producing district that includes two historic tungsten mines and a high-grade copper-silver operation, all located within a geologically complex setting that presents multiple exploration opportunities. With tungsten classified as a critical mineral and virtually no domestic production in the past decade, Spartan's approach of combining century-old mining data with modern exploration techniques has attracted attention from both investors and government entities interested in reshoring strategic mineral supply chains.

Leadership and Strategic Vision

Brett Marsh, CEO of Spartan Metals, brings substantial industry credentials to the venture, with 25 years of experience as a professional geologist working across major mining companies, junior explorers, and consulting roles globally. His involvement in various aspects of the mining value chain has shaped his strategic approach to Spartan, which he describes as fundamentally tungsten-focused despite the presence of other valuable mineralization on the property.

"We founded the company on the basis of tungsten," Marsh explains, noting that the company's stock symbol ‘W’ was deliberately chosen to reflect this focus. This clarity of purpose distinguishes Spartan in a junior mining sector where companies often pursue multiple commodities simultaneously, potentially diluting management attention and capital resources.

The Eagle Project: Geological Setting and Historic Context

The Eagle project presents a geologically diverse setting characterised by carbonate host rocks intruded by a large igneous body, creating extensive contact metamorphism and skarns around the intrusion zone. This geological configuration has generated multiple mineralization styles including tungsten-bearing veins at Tungstonia, copper-silver carbonate replacement deposits (CRD) at the Antelope mine, and additional prospects at the Rees mine.

The Tungstonia deposit, which forms the cornerstone of Spartan's exploration strategy, was mined during World War II and earlier periods when tungsten commanded premium prices for military and industrial applications. Historic production records indicate grades between 0.6% and 0.9% tungsten trioxide, though recovery methods of that era were considerably less efficient than modern processing techniques.

"A lot of the work that was done in 2024 and what we did here in 2025 actually shows that some of the veins that were mined in that time period actually extend from approximately 700 meters or so where they were mined to almost 2 kilometers in length along a very discrete strike."

This continuity of mineralization along strike suggests significant depth potential that was never explored by historic operators, whose mining activities extended only to approximately 75 meters depth.

Exploration Strategy and Data Integration

Spartan's exploration approach centers on validating and expanding upon nearly century-old data through systematic modern exploration. The company faces the challenge of working with information that, while potentially valuable, requires verification before serving as a foundation for resource development.

"We need to go back and do some field verification or in our case, we might plant a couple of drill holes in areas where production had looked kind of interesting in the past and see to make sure we can validate that."

This validation process includes revisiting surface channel samples conducted in conjunction with the U.S. Bureau of Mines during the 1940s, along with underground assay maps from production control activities.

The structural geology of the district represents a particularly significant knowledge gap from the historic era. Understanding structural controls on mineralization has become fundamental to modern exploration targeting, especially for vein and CRD systems. Spartan plans to address this through integrated geological mapping, soil geochemistry programs, and geophysical surveys using Controlled Source Audio-frequency Magnetotellurics (CSAMT) and potentially standard magnetotellurics (MT) techniques.

"One of the biggest opportunities for us going forward is the structural fabric of the whole area is something that didn't get a lot of coverage back then. So it's going to be a focus for us as we go forward because that's pretty important for these vein and CRD-type systems."

All collected data feeds into 3D geological modelling software, enabling the team to visualise mineralization, structure, and lithology relationships in three dimensions before committing capital to drilling. This modeling work will guide the company's maiden drilling program, tentatively scheduled for early spring 2026.

Near-Term Tailings Opportunity

An immediate opportunity exists in the form of approximately 10,000 tons of historic tailings remaining at the Tungstonia site, grading approximately 0.15% tungsten trioxide. While this represents a relatively small tonnage compared to major tailings reprocessing projects, it offers several strategic advantages including rapid pathway to revenue generation and valuable metallurgical data for future mining operations.

"If it were significantly larger, say in the millions of tons, it might be something that we would look at. But as you know, just to scale it properly, I think it's really doable to work with somebody that has the downstream technology and capability already."

The company scheduled tailings drilling to commence October 20th with dual objectives: establishing the volume and grade distribution of the material, and conducting metallurgical testing to determine optimal recovery methods. The drilling program will also investigate whether tungsten has leached from the tailings into underlying native soils over the past century, which could expand the potential resource while addressing environmental remediation requirements.

Beyond immediate economic recovery, the tailings work provides crucial metallurgical baseline data applicable to future mining at Tungstonia. Recovery methods from the 1940s-1950s were considerably less efficient than modern techniques, suggesting that both the tailings and future ore could achieve substantially better metallurgical performance than historic operations.

Polymetallic Potential Through Portfolio Management

While tungsten drives Spartan's strategy, the Eagle project hosts additional valuable mineralization that management views as potentially complementary rather than distracting. The Antelope mine produced high-grade copper-silver mineralization historically, with reported grades reaching 4% copper and nearly 1,000 grams per tonne silver. Manganese exists as a constituent of the tungsten ore mineral (scheelite being a calcium tungsten oxide), and rubidium has been identified as a potential byproduct in some areas.

"As I look at it as a portfolio of projects, I think we've got three really great ones in one little package, right, in one area. Knowing that Tungstonia is the biggest and it's got the most potential, that's where we're going to start, but we're not going to ignore the other aspects of the project either."

This portfolio approach allows Spartan to maintain capital efficiency by conducting integrated exploration programs that address multiple targets simultaneously. Surface mapping, soil sampling, and rock chip sampling programs will cover both the Tungstonia area and the Reese claim block where Antelope is located, while geophysical surveys will focus initially on the tungsten vein system.

Building Technical Expertise for Complex Exploration

Spartan recently added Rebecca Ball to its geological team, whom Marsh describes as "one of the better geologists that I've worked with over my career." The team-building strategy balances permanent staff with specialised consultants who bring specific technical capabilities as project needs evolve.

"Initially more than likely we'll partner with really known consultants and other contractors that we know well and worked with in the past. As we grow and get bigger I will definitely build out the team in that manner."

The scarcity of tungsten-specific expertise in North America presents challenges, as the United States has had no tungsten production for at least a decade. Spartan addresses this by working with consulting groups that have global reach and can draw upon international tungsten experience, while acknowledging that partners may face learning curves in applying their expertise to this specific deposit type.

Financial Position in a Strategic Market Window

Spartan's recent $2.25 million financing provides adequate capital for the planned Phase 1 exploration program, which Marsh confirms is "quote unquote paid for." This financial position enables the company to execute its systematic exploration strategy without near-term capital pressures that might force premature drilling or compromise data collection quality.

The timing of Spartan's market entry aligns with heightened governmental interest in domestic critical minerals production. "I have actually fielded some from the government as well. So it's definitely coming from all directions," Marsh notes regarding inbound interest in the project.

The company's genesis involved acquiring the Eagle project from Ridgeline Minerals, with Marsh acknowledging: 

"They really set this project up to be successful. I think we probably wouldn't be as far along as we are without everything that Ridgeline's done."

Critical Minerals Context for Domestic Development

Tungsten's classification as a critical mineral by the U.S. government reflects its essential role in various industrial and defense applications, combined with near-total import dependence. The metal's high melting point, hardness, and density make it irreplaceable in cutting tools, drilling equipment, aerospace applications, and armour-piercing ammunition.

"We know that there's a high need or there is a high need to onshore domestic production of these metals. Having a tailings asset that we have, it's likely that we could monetise that relatively quickly compared to mining and extracting and doing the other kinds of things that are required to build a mine from a green field state."

This strategic positioning as a domestic critical mineral developer differentiates Spartan from exploration companies pursuing precious or base metals where established international supply chains exist. The combination of government support for critical minerals, private sector interest in supply chain security, and technical merit of the Tungstonia deposit creates multiple pathways for project advancement.

The Investment Thesis for Spartan Metals

• Critical Mineral Focus: Tungsten's designation as a U.S. critical mineral with virtually no domestic production creates strategic value beyond typical commodity exposure, potentially attracting government support and strategic partnerships
• Near-Term Catalysts: Planned drilling of 10,000-ton tailings pile beginning October 20th offers rapid data flow and potential monetization pathway through toll treatment partnerships, providing interim cash generation while advancing primary resource
• Proven Historic Production: Past mining at Tungstonia (0.6-0.9% WO₃ grades) and Antelope (4% copper, 1,000 g/t silver) de-risks exploration by confirming mineralization quality and providing baseline metallurgical understanding from historic operations
• Significant Expansion Potential: Vein extensions from 700 meters of historic mining to 2 kilometers along strike, with depth only tested to 75 meters historically, suggests substantial upside from modern exploration applying 3D modeling and geophysical targeting
• Funded Exploration Program: Recent $2.25 million financing fully funds Phase 1 systematic exploration including mapping, geochemistry, geophysics, and maiden drilling in spring 2026, eliminating near-term dilution concerns
• Polymetallic Optionality: Copper-silver (Antelope), tungsten (Tungstonia), and potential rubidium/manganese byproducts provide portfolio diversification within single district, allowing management to optimise development sequence based on market conditions
• Experienced Leadership: CEO Brett Marsh's 25-year career spanning majors and juniors, combined with recent addition of senior geologist Rebecca Bull, provides technical credibility for executing complex multi-target exploration program
• Strategic Transaction Structure: Acquisition from Ridgeline Minerals (ongoing relationship) provided advanced project with compiled historic data, reducing early-stage costs and accelerating timeline to meaningful exploration milestones

Macro Thematic Analysis

The United States faces acute strategic vulnerability in tungsten supply, with essentially zero domestic production despite the metal's critical importance to defense industries, manufacturing, and technology sectors. China controls approximately 80% of global tungsten supply, creating supply chain risks that have intensified amid geopolitical tensions and increasing recognition of economic security considerations in mineral sourcing. Federal initiatives including the Defense Production Act, Department of Energy loan programs, and various critical minerals tax incentives have created a uniquely supportive policy environment for domestic tungsten development. Spartan Metals enters this landscape with a historical producing district in Nevada's established mining jurisdiction, offering a credible pathway to production at a time when domestic alternatives command premium valuations. The convergence of national security imperatives, favorable policy support, and technical project merit positions tungsten explorers as potential beneficiaries of structural supply chain realignment that extends beyond cyclical commodity price movements.

"We founded the company on the basis of tungsten... we know that there's a high need or there is a high need to onshore domestic production of these metals. Having a tailings asset that we have, it's likely that we could monetise that relatively quickly."

TL;DR:

Spartan Metals offers exposure to U.S. tungsten production revival through its Eagle project in Nevada, combining near-term tailings monetization opportunity (10,000 tons at 0.15% WO₃, drilling begins October 20th) with significant exploration upside from 2-kilometer strike length of historic tungsten veins tested only to 75-meter depth. Recent $2.25 million financing funds complete Phase 1 program including systematic surface work and maiden drilling in spring 2026, while CEO Brett Marsh's 25-year geology experience and deliberate tungsten focus align with federal critical minerals priorities and growing government interest in domestic supply chains.

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