Loyal Lithium Completes Acquisition and Performance Shares Issuance
Key Developments in Trieste Lithium Project
Loyal Lithium has made significant strides in its Trieste Lithium Project located in James Bay, Canada. The company has successfully issued Performance Shares to DG Resource Management (DGRM) and completed the acquisition of 228 mineral claims from General Partnership Osisko Baie James, covering approximately half of the 466 claims of the Trieste Lithium Project.
Loyal Lithium’s Expanding Footprint
With this latest development, Loyal Lithium emerges as the single largest landholder in the Trieste Greenstone Belt, boasting a substantial land position of 251 km². This strategic expansion strengthens the company’s presence in the region known for its lithium potential.
Partnership with DGRM
DGRM, recognized for its role in significant discoveries across various commodities including lithium, has been instrumental in the discovery of spodumene at the Trieste Lithium Project. The collaboration between Loyal Lithium and DGRM reflects a deepening of in-country relationships and a shared vision for the project's development.
Issuance of Performance Shares
The issuance of three tranches of Performance Shares to DGRM forms part of the consideration for the acquisition of the Brisk Project in October 2022. The successful rock chip assay results from the company’s summer field program, which revealed promising Li2O concentrations, have triggered the vesting milestone for the first tranche of Performance Shares.
