Opportunity to Acquire High-Grade JORC Zinc and Copper Deposit in Northern Sweden

On behalf of its Joint Venture Partner, MRG Metals Limited’s (MRG) are seeking offers for the acquisition, or such other arrangement to the satisfaction of MRG, of the Norrliden Project (Norrliden or the Project), located in the Skellefte Belt in Northern Sweeden, ~75km Northwest of the city Skelleftea.

Norrliden hosts the Norra polymetallic volcanogenic sulphide deposit which has a current JORC-compliant MRE of 1.8Mt @ 4.13% ZnEq which is located on a granted mining concession. In addition to the granted mining concession, the Project also comprises two exploration concessions.

The Project also hosts a number of other similar polymetallic prospects and deposits including the Bjurfors deposits and the Södra. The global MRE for the Norrliden Project is 5.2Mt @ 2.1% Zn, 0.4% Cu, 0.2% Pb, 0.3g/t Au, 29g/t Ag calculated using a 1% ZnEq.

In April 2017, Mandalay Resources Corporation (Mandalay) entered into a non-binding HOA with MRG Metals Limited (Australia) at the Norrliden Project located in northern Sweden. Since commencing the Farm-In Agreement in early 2017, MRG has completed:

  • 2 rounds of diamond drilling for 5 holes totalling of 688m;
  • FLEM geophysical surveying;
  • DHEM geophysical surveying;
  • Structural geology review and model;
  • MRE and Mine Optimisation; and
  • 58-hole bottom-till geochemistry drilling program.

The Company and Mandalay are now seeking to divest 100% of the Project.