This is the Investing News Network. I'm Georgia Williams and we're here in Toronto for the annual PDAC conference. Joining me today is Brett Marsh, president and CEO of Spartan Metals. Nice to see you again, Brett. >> Yeah, thanks for having me. It's great to be here. >> It's nice to see you. >> Yeah. >> Um PDAC, this is the third day. How's it going? Yeah, it's it's been it's been nice. It's uh it's been really busy. We've had a lot of good response back at


the booth and and uh a lot of interested folks coming to to hear the Spartan story. >> Absolutely. It's exciting times. >> Yeah, it sure is. >> Um I was wondering if we could start with your your ticker symbol and the exchanges that you trade on. >> Sure. So, we're we're uh we're traded on the Toronto Venture Exchange under the ticker symbol W, which is the chemical symbol for tung tungsten. We are on the OTC under SPRMF and we're also on the Frankfurt Exchange with J03.


>> Nice. >> Yeah. >> Um, Spartan Metals is a tungsten focused company working in Nevada. Can you tell us about your project and what it's like working in the jurisdiction which just ranked uh the top jurisdiction in the world on the Fraser Institute? >> They did and it's it's welld deserved. So, we're in we're in Nevada. So we're in the eastern portion of Nevada, uh basically uh just outside of the town of Elely, south of Elco, about two hours. And uh it's been it's been really


wonderful. So we uh it's a it's a welldeserved uh acknowledgement on their part that uh that the the state is really uh pro mining, pro exploration, and they're very helpful, right? And they help us do do things the right way as well. So it's uh it's very refreshing. >> Yeah. You landed in the perfect place. Yeah, it's it was it was done on purpose. We we knew that Nevada was a great place to work uh from previous experience and uh it's uh actually been better than we expected.


>> Um last time we spoke in New Orleans in November uh the company had was about to release some news and in December you announced that you discovered two new tungsten silver and rubidium exploration targets at your Eagle project. What does that mean for the company and how do you plan to move ahead with this? Yeah, it's big news for the company because initially we had thought that we were only looking at uh at the the veins within tungstenium and it turns out after we did our soil sampling prog uh


program that uh you know we had potentially new discoveries associated with those tungsten veins. So it could actually could actually turn out that we have a tungsten scarring potential plus carbonate replacement deposit which could actually bring in you know very valuable minerals such as silver at high concentrations in addition to the uh the tungsten that we have at at very high grades >> and it's nice to have that silver um potential because silver is doing so great. Yeah, silver's doing great.


Tungsten's doing great, and it's uh you know, and they're both uh you know, they kind of trade in different ways, so it kind of gives us some exposure to different uh different investors in different different markets. >> Yeah. Um in early February, the company announced the staking of a new land package, which features a past producing tungsten mine. How does Yellow Jacket Mine complement your existing portfolio? Yeah, it's it's it's a fantastic uh inclusion for us because we when we were


doing the initial field work in the fall, we noticed that there was a lot of alteration. The tungst the yellow jacket mine was there and it was available and so we put it into the portfolio basically to make sure that we had, you know, the district scale that we think that we have um um claimed, you know, so we wanted to make sure we had enough land. The interesting thing about the u yellow jacket mine itself is it's past producing at about 1%. And so we've actually seen that 1% number be pretty


consistent throughout the Eagle package. And so we're very confident that as we get further along in our exploration, uh we'll have excellent grades that come with that. >> Yeah. And 1% is a great grade to have. >> Yeah. And it's very valuable right now as far as tungsten goes because the market's very strong. >> Yeah. Um, tell us about your relationship with the US Department of War and the US Department of Energy and how these may help Spartan obtain funding and supporting America's need,


you know, for critical metals domestically. >> Yeah. So, in the past, I've I've worked directly with the Department of Defense then, now Department of War, uh, and spent time directly in the Pentagon talking about critical metal projects and really getting a chance to understand the the the funding process. Uh so we know that really well and we still have the connections to get into and set up those meetings as uh when the time comes. Department of Energy I worked with directly as uh as a u uh in


kind of a research capacity uh with our project. And so those those uh those folks and some of the leaders from the department of energy have actually called uh to understand learn about the project, learn about the tungsten, learn about the ribidium potential and just understand uh and talk with us how how they could um you know help us progress. And it's interesting from the Department of Energy standpoint because, you know, they typically had in the past worked uh very far downstream with processing


plants they were funding and such. Now they're really got the mandate to go as far upstream as they can. So we're leveraging that relationship to see if there's something that can be done there. >> Yeah, it's nice to know that they're covering the whole value chain. >> It is. And it's, you know, nice to see that they have the mandate and they have the funding to do it and they're really being um I would call it aggressive and trying to get these get these projects


um you know through the pipeline, right? Get them identified and and uh you know really start getting them into production. >> Yeah, the sooner the better. >> That's right. >> Um aside from drill results, what other catalysts can investors be looking forward to this year? >> Yeah, that's really going to be the biggest thing. Uh but we're also, you know, we still have the outstanding metallergical results from our tailings and the work that we have uh associated


with that. And so it's uh definitely going to be be thrilling because that information from the tailings will give us a glimpse into what we can expect from performance as far as the the drill core and the and the and the mine itself once we make it that far. >> And can you speak to a little bit about the tailings because it's sort of like, you know, what was once waste is now another man's treasure. Well, you know, this was this was producing in the 20s and 30s and 40s, and so their processing


methods were not as sophisticated as we have today. So, there's a lot of material uh that they were unable to process just because they didn't have the had the technology to do it. And now we have uh you know, some intercepts in that program were 4% tungsten, which is relatively good grade in any resource today. So, we think that there's there's value there uh in addition to the silver that was left behind, which is, you know, multiple grams per ton. So, um there's there's potential value there


that we can feed back into the exploration program. >> It ends up being like a little bonus. >> Yeah. And it's nice and we can uh you know, it's it's not a very attractive thing on the on the ground. So, it's nice for us to be able to clean it up and reclaim it and and reveate the area. >> Yeah. And I think that's so important, you know, that miners are now focused on doing the best practices and, you know, making sure they're leaving the the environment as as the same way they


found it. >> Yeah. Yeah. And that's definitely what we're going to try to do and and that's going to be our focus is to be as responsible as we can. >> Fabulous. Well, it was lovely to catch up with you again. I look forward to speaking with you again soon. >> Yeah, let's do it. >> Once again, I'm Georgia Williams and that was Brett Marsh, president and CEO of Spartan Metals.