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New Listing: Metallum Resources (TSXV:MZN)

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The company is engaged in the mining and mineral development of base metals with a focus on zinc. It recently completed the acquisition of the Superior Lake Zinc Project from Superior Lake Resources which trades on the Australian Stock Exchange.

Additional Information:

Company: Metallum Resources
Website: http://www.MetallumZinc.com
Stock Symbol: TSXV: MZN
Date Published: Apr 9, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Metallum Resources is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “MZN”, following its reverse takeover of CROPS Inc. (TSXV:COPS).

The company is engaged in the mining and mineral development of base metals with a focus on zinc.

It recently completed the acquisition of the Superior Lake Zinc Project from Superior Lake Resources which trades on the Australian Stock Exchange.

Consideration was approximately $13 million with $737,640 in cash and the balance in shares.

The Superior Lake Zinc Project, located approximately 200 kilometers east of Thunder Bay, Ontario, covers 175 square kilometers and consists of two deposits, Winston Lake and Pick Lake.

The project can be accessed by vehicles year-round via the Trans-Canada Highway 17 and then by the Winston Lake Mine Road, of which the initial 3 to 4 kilometers are paved.

The town of Schreiber is approximately 10 kilometers east of the Winston Lake mine road and roughly a 30-minute drive.

The Pick and Winston Lake deposits are defined as VMS deposits and are characterised as being very rich in zinc and deficient in other metals, aside from minor copper and gold.

The project has a long history of exploration and mining.

According to the data presented by Superior Lake management, the property was initially discovered by prospectors in 1879 when high-grade zinc ore was discovered in the Zenith Lake area, adjacent to the Winston Lake deposit.

Superior Lake consolidated the Project ownership in 2017 and commenced the first exploration program in more than 20 years including drilling and a geophysical survey that allowed the Project to advance to a positive Bankable Feasibility Study.

The high-grade Zinc deposit has a 43-101 Indicated Resource of 2.07 million tonnes at 17.9% zinc, 0.8% copper, 0.4 g/t gold and 33.6 g/t silver, and an Inferred Resources at 0.27 million tonnes at 16.2% zinc, 1.0% copper, 0.3 g/t gold and 37.2 g/t silver.

The project has substantial infrastructure in place which allows the company to fast track the restart of the Pick Lake Mine at a substantially reduced cost and development timeline compared to the development of a greenfield.

The company recently raised gross proceeds of $2.7 million from the placement of 27 million shares priced at $0.10 per share, along with another $600,000 from the placement of approximately 5.5 million flow-through shares priced at $0.11 per share.

The shares are trading at $0.125.

For more information, please visit the company’s website www.MetallumZinc.com, contact Kerem Usenmez, President and CEO, at 604-688-5288 or email info@MetallumZinc.com.

I’m Cassandra Bolinski for Investmentpitch Media