The Largest Tungsten Resource in the US Is Getting Its First Economic Study Since 2008: Inside the Victorio PEA Now Underway at Spartan Metals, W.v and SPRMF, on Target for Early Q4
Posted on behalf of Spartan Metals Corporation - Nevada has generated nearly all of the summer headlines for Spartan, W.v and SPRMF, but the most advanced asset in the portfolio sits one state over. The Victorio Tungsten-Molybdenum Project in Luna County, New Mexico 🇺🇸, which Spartan holds under an option to earn 100%, hosts the largest tungsten resource in the United States (a historic estimate) plus beryllium and fluorspar, and it is now heading toward its first comprehensive economic evaluation since 2008.
The PEA Machinery Is Moving
- SRK Consulting (U.S.) was appointed lead consultant for the updated PEA on May 5, 2026, supported by Teal CPG (see June 30, 2026 NR)
- The historic drill database has been validated: 147 core holes totaling 253,955.5 feet (77,405.6 m), per the same release
- Headline validated interval: 537 feet (163.7 m) at 0.23% WO3Eq, with 34 holes exceeding 100 feet of continuous tungsten-molybdenum mineralization
- 26 holes were never counted in the 2008 economic analysis, which the company says suggests upside once folded into the PEA update
- The PEA remains on target for an early Q4 2026 release
Why The Deposit Shape Matters
In the June 30 NR, Spartan compares Victorio's geology to Freeport-McMoRan's Henderson Mine in Colorado: a widespread stockwork system with historic grades of roughly 0.09% Mo and 0.09% WO3 (0.19% MoEq) against Henderson's 0.14% Mo resource grade, suitable for evaluating bulk underground mining methods. And the metallurgy has history too: historic Hazen Research test work (1992 and 2007) indicated molybdenum recoveries up to 85% and tungsten recoveries of 74-77%, per the Victorio page on Spartan's website.
The usual caution applies: these are historic figures, not a current NI 43-101 resource, and the planned verification work (twinning, infill drilling, re-sampling, modern QA/QC) comes first.
Meanwhile, drills mobilize to the Eagle Project in Nevada in mid-August. That sets up a second half where each of Spartan's two US tungsten assets carries its own catalyst, and Victorio's could be the first modern economic look at the deposit in nearly two decades.
The Victorio page on Spartan's site covers the geology, history, and metallurgy in depth.
Posted Jul 23, 2026, 5:08 AM UTC