April 28th, 2021 – Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the “Company” or “Zimtu”) is pleased to announce the Company has sold two claim groups, collectively known as the Wicheeda North Property, located approximately 85 km northeast of Prince George, British Columbia to Marvel Discovery Corp. (TSXv: MARV; FSE: O4T1; OTC: IMTFF). The properties are located within the Rocky Mountain Rare Metal Belt (RMRMB), a geological zone stretching 2,500 km from just above the Idaho and Montana borders in the south to the Yukon border in the north, where Mother Nature has created the right environment for the emplacement of both rare earth elements (REE) and rare metals (RM) via carbonatite-hosted deposits. Zimtu Capital still maintains several interests in the Rocky Mountain Rare Metal Belt region, via equity holdings in Eagle Bay Resources and Commerce Resources.
Eagle Bay Resources Corp. is a privately held, early-stage mineral exploration company focused on exploring and developing the Cap Property, which is comprised of 21 mineral tenures covering 10,428 ha. believed to be prospective for rare earth elements and niobium. Zimtu Capital currently holds 10,500,000 shares of Eagle Bay Resources.
Some reconnaissance has occurred previously on the Cap Property, including sample collection, a flown airborne geophysical survey, and some limited drilling. Exploration highlights to date include three rock samples yielding 0.24% TREO and 0.77% Nb2O5 (sample 120957), 0.39% TREO and 0.04% Nb2O5 (sample 120961), and 0.21% TREO and 0.96% Nb2O5 (sample 120964), respectively. Drill hole CAP17-004 yielded 0.35% Nb2O5 across 10.42 m, including 0.63% Nb2O5 across 2.26 m; 19.63 m of 9.94% P2O5, including 20.97% P2O5 over 2.55 m; and 2.4 m of 0.81% TREO. The Cap Property is located approximately 15 km southeast of the Wicheeda North Property sold to Marvel Discovery Corp. (See figure 1).
Figure 1. Showing the locations of the Wicheeda North Property (Marvel Discovery Corp.) and the Cap Property (Eagle Bay Resources Corp.)
Further to the southeast within the Rocky Mountain Rare Metal Belt, Zimtu’s equity holding Commerce Resources Corp. (TSXv: CCE; FSE: D7H0; OTCQX: CMRZF) is developing the Blue River Tantalum and Niobium Project, located approximately 230 km north of Kamloops, B.C. The Blue Project comprises over 30 mineralized carbonatites, including the deposits that the company has defined resources on, including the Verity, the Fir and the Upper Fir, the latter being the world’s largest defined resource for tantalum. Commerce Resources started working on these claims in the winter of 1999 and has spent approximately $40M CAD on them in total since that date. Zimtu Capital currently holds 6,821,599 shares of Commerce Resources Corp.
About Marvel Discovery Corp.
Marvel Discovery Corp., listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The company is systematically exploring its extensive property positions in:
- Exploits Zone, Newfoundland (Slip and Victoria Lake – Au Prospects)
- Atikokan, Ontario (BlackFly – Au prospect)
- Red Lake, Ontario (Camping Lake – Au prospect)
- Elliot Lake, Ontario (Serpent River/Pecors -Ni-Cu-PGE discovery) & (Uranium- REE’s)
- Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium prospect)
- Prince George, British Columbia (Wicheeda North – Rare Earth Elements prospect)
For more information, please visit: https://montororesources.com/
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The company trades on the TSX Venture Exchange under the symbol “ZC” and Frankfurt under symbol “ZCT1”. For more information, please visit https://www.zimtu.com.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.