Spartan Metals Acquires Victorio Project, Largest Tungsten Resource in the US
Spartan Metals has acquired the Victorio Project in New Mexico, containing the largest historic tungsten resource in the US. The company will pay $1.8 million and invest $14 million in exploration over five years, culminating in a Feasibility Study. The project includes 34 Bureau of Land Management claims spanning 558 acres and has an estimated 77.2 million tons of measured and indicated resources. This acquisition aligns with Spartan's strategy to enhance domestic critical mineral assets.
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Spartan Metals has secured the Victorio Project, the largest historic tungsten resource in the United States, located in New Mexico. The deal includes a payment of $1.8 million and a commitment of $14 million in exploration over five years, with a Feasibility Study due by the eighth anniversary of the agreement.
The project consists of 34 BLM mining claims covering 558 acres, and historical estimates suggest it contains approximately 77.2 million tons of tungsten and molybdenum resources. The acquisition supports Spartan's strategy to strengthen US critical mineral supplies.
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