# 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 *2026-06-30T05:00:00-04:00* 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 Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Spartan Metals Corp. (TSXV: W) (OTCQB: SPRMF) (FSE: J03) ("**Spartan**" or the "**Company**") validates historic drilling data which supports the upcoming Preliminary Economic Assessment ("**PEA**") announced [May 5, 2026](https://api.newsfilecorp.com/redirect/zADVxUyKEb)at its Victorio Tungsten-Molybdenum Project, New Mexico (Figure 1). **Historic Drilling Highlights:** - 34 holes exceed 100 feet (~30.5 meters) of continuous Tungsten-Molybdenum mineralization - Additional multiple stacked zones of mineralization over 50 feet (~15.2 meters) occur throughout deposit - 26 holes not included in 2008 historic economic analysis, including 12 holes that were not included in the [2012 historic mineral resource estimate](https://api.newsfilecorp.com/redirect/4YV03SWa1L), suggest significant upside potential once these holes are considered in the current PEA update - Tungsten and molybdenum combined establish molybdenum equivalent (MoEq) grades at Victorio 0.09% WO3 and 0.09%1Mo (0.19% MoEq) compare favorably to Freeport-McMoRan's Henderson Mine resource grade of 0.14% Mo2 - PEA on target for early Q4 2026 release Brett Marsh, Spartan's President and CEO, stated: _"The validation of these historic drill results marks an exciting milestone in our ongoing technical evaluation of the Victorio Project and further reinforces our conviction that acquiring this asset was a transformational opportunity for Spartan Metals. The identification of 34 drill holes with more than 100 feet of continuous tungsten-molybdenum mineralization demonstrates the impressive scale and continuity of the mineralized system. Equally encouraging is the fact that many of these large, mineralized intervals were not incorporated into previous resource estimates or historical economic evaluations, providing additional technical information as we advance the updated Preliminary Economic Assessment for Victorio._ _"Our ongoing data validation program continues to uncover the breadth of historical drilling completed at Victorio and is providing new insights into the size and characteristics of the mineralized system. The combination of extensive continuous mineralization, broad mineralized widths, and apparent bulk-tonnage characteristics highlights why we believe Victorio compares favourably, from a geological perspective, with large underground molybdenum systems such as Freeport-McMoRan's Henderson mine, while also benefiting from a significant tungsten component that distinguishes the Victorio Project. Although Victorio remains at a much earlier stage of technical evaluation, these historical results continue to reinforce our confidence in the project's strategic importance within the U.S. critical minerals sector._ _"As we move toward the completion of the updated PEA, our team remains focused on systematically validating the historical database and integrating this information into our geological and engineering studies where appropriate. Every phase of this work continues to strengthen our understanding of Victorio and further demonstrates why we believe the project has the attributes of a significant U.S. tungsten-molybdenum development opportunity."_ Spartan's current PEA is on target for early Q4 2026 release. The drilling database validation is the first step to ensuring accurate input information into the Mineral Resource Estimate that is the foundation of the PEA. The database contains 147 core holes totaling 253,955.5 feet (77,405.6 m). Significant intervals from selected holes are shown in Table 1 and a more complete list is located [here](https://api.newsfilecorp.com/redirect/jNGOetra7V). Figure 2 shows a plan view of the drill holes within the Victorio Project. Note several holes within the deposit footprint that have not been included in previous economic analyses or Mineral Resource Estimates. Victorio exhibits several geological and mining characteristics that are comparable to large-scale underground molybdenum systems such as Freeport-McMoRan's Henderson Mine in Colorado, one of North America's premier bulk underground molybdenum operations. Historical drilling at Victorio has outlined broad, laterally continuous intervals of tungsten-molybdenum mineralization, with numerous drill holes reporting intervals of more than 100 feet (30.5 m) of continuous mineralization and demonstrating vertical continuity over several hundred metres. Similar to Henderson, mineralization occurs as a widespread stockwork system capable of supporting evaluation of bulk underground mining methods such as those being evaluated in Spa