Metallum Resources has launched its campaign on the Investing News Network.
Metallum Resources (TSXV:MZN) plans to commence an extensive drilling campaign and further its established exploration programs to identify additional targets across the Superior Lake property. acquired the Superior Lake zinc project from Superior Lake Resources (ASX:SUP). Superior Lake has a prospective JORC-compliant bankable feasibility study. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources.
Metallum Resources has advantageous positioning in the space of zinc developer valuation. Compared to other players in the market, Metallum Resources presents an excellent CAD$21 million market cap with a robust post-transaction share distribution portfolio. The company has no material debt.
Metallum Resources’ Company Highlights
- Metallum Resources’ flagship Superior Lake zinc project is near-production, with all infrastructure in place, in the mining-friendly jurisdiction of Ontario, and is one of the highest-grade zinc development resources in North America.
- Current resources estimates place Superior Lake with upwards of 2.07 million indicated tonnes of zinc at 18 percent zinc grades. The current mine life of Superior Lake stands at nine years and the asset has the potential for resource expansion with additional exploration.
- The Lower Pick Lake massive sulphide Deposit has exceptional historic intercepts but is still largely untested, leaving huge potential for undiscovered, high grade massive sulphide mineralization that is close to existing underground development.
- The Superior Lake zinc project’s 2 deposits, Winston Lake and Pick Lake, are both highly prospective VMS deposits that host very rich zinc and other metals mineralization.
- Superior Lake Resources released a JORC-compliant (but not NI 43-101 compliant) Bankable Feasibility Study for the Superior Lake Zinc Project in 2019. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources, at 3 percent cut off grade.
- The company is a significant proponent of stakeholder participation and mining best practices. It boasts strong relationships with community and local skilled workforces and emphasizes safety and sustainability while providing exceptional economic and project development potential.