You can use mlvfs but you need a newer version with support for lossless compression.
This version was working for me 2 years ago:
https://bitbucket.org/ArcziPL/downloads/downloads/mlvfs_x86_x64.zip
This version was working for me 2 years ago:
https://bitbucket.org/ArcziPL/downloads/downloads/mlvfs_x86_x64.zip