Business
Midasco Capital Corp. Completes Acquisition of Tungsten and Critical Metals Project from Ridgeline Minerals
(TheNewswire) Midasco Capital Corp. Announces Name Change to Spartan Metals Corp. V...
About this update from Spartan Metals Corp.
[{"type":"text","content":"Midasco Capital Corp. Completes Acquisition of Tungsten and Critical Metals Project from Ridgeline Minerals\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n Midasco Capital Corp. Announces Name Change to Spartan\nMetals Corp.\n \n\n\n\n Vancouver, Canada –\n \n\n TheNewswire -\n \n\n July 31, 2025\n \n\n –\nRidgeline Minerals Corp. (“\n \n\n Ridgeline\n \n\n ”) (TSX-V: RDG | OTCQB: RDGMF |\nFRA: 0GC0) and Midasco Capital Corp. (“\n \n\n Midasco\n \n\n ”) (TSX-V:\nMGC-H) are pleased to announce that they have completed the previously\nannounced arm’s length sale and purchase of Spartan Exploration\nNevada Corporation (“\n \n\n Spartan\n \n\n ”) in accordance with the terms of a\nshare purchase agreement dated June 2, 2025 (the “\n \n\n Agreement\n \n\n ”).  On\nclosing, Midasco acquired 100% of the issued and outstanding shares of\nSpartan, an entity which holds 244 lode mineral claims located in\nWhite Pine County, Nevada which are referred to as the Eagle Property\n(the “\n \n\n Property\n \n\n ”) (Figure 1).\n \n\n\n The Eagle Property is a tungsten-copper porphyry and skarn system\nwhich hosts one of the highest-grade past producing tungsten districts\nin the United States with the Tungstonia and Rees mine operations\nproducing a reported 8,352 tonnes of tungsten trioxide at average\ngrades of 0.6-1.0% between 1917-1956\n \n\n 1\n \n\n . The Property also exhibits significant\nconcentrations of rubidium, copper, silver, antimony as well as lesser\nlead and zinc, which is interpreted as part of the larger metal\nzonation pattern of the porphyry system across the district.\n \n\n\n In accordance with the terms of the Agreement on\nclosing, Midasco issued Ridgeline 5,830,466 of its common shares (the\n“\n \n\n Midasco Shares\n \n\n ”) representing 19.9% of Midasco’s total issued and\noutstanding shares.  In addition, on the one-year anniversary of the\nclosing date, Midasco will issue Ridgeline additional Midasco Shares\nequal to the lesser of: (i) 5,000,000; and (ii) such number of Midasco\nShares as would result in Ridgeline’s holding 19.9% of Midasco’s\ntotal issued and outstanding shares.\n \n\n\n\n Ridgeline has also been granted a 1% net smelter return\nroyalty on the Property as well as...