Pursuit Minerals Limited (ASX: PUR) has acquired Trilogy Minerals, a company specialising in lithium exploration and development, to form a promising player with valuable resources in a sought-after lithium-rich region. The acquisition has generated excitement among Pursuit’s Managing Director, Bob Affleck, and the industry.

On March 29, 2023, Pursuit Minerals Limited (ASX: PUR) announced the acquisition of 100% of the share capital of Trilogy Minerals. This acquisition marks an essential milestone for Pursuit, positioning the company as an emerging lithium exploration company with resources in a highly sought-after lithium-rich region. Bob Affleck, the Managing Director of Pursuit Minerals, explained, “We look forward to combining with the Trilogy team to grow the company for all shareholders.”

Ramsden Lawyers played a crucial role in the transaction that led to the formation of this emerging lithium exploration and development company. The acquisition of Trilogy will allow Pursuit to expand its operations and push forward with its proposed exploration programs on the Rio Grande Sur Project area.

Background to Trilogy and the Acquisition

Trilogy is a lithium exploration and development company with five option interests that are prospective for lithium located near Salta, Argentina, in the Rio Grande Sur Project. The five tenements cover approximately 9,233 hectares. In January 2023, Trilogy raised $8m and acquired four project tenements. The company has experience managing similar operations to the Rio Grande Sur Project.

Exploration Program

Trilogy has outlined a detailed exploration program to explore the tenements and outline a JORC-compliant resource. Prior drilling in 2011 returned results ranging between 350-400mg/Li consistent across all prior exploration programs. CS-AMY geophysical surveying and drilling carried out by LSC Lithium in 2017/2018 and ADY Resources in 2011 revealed several critical geological findings to confirm the viability of the Rio Grande Salar for Commercial and Corporate lithium production operations.

Furthermore, CSAMT surveys have identified Lithium enriched brines to a depth of 500m. Therefore, the Rio Grande Sur Project has a clear de-risked pathway to complete feasibility studies and potential production given its location and proximity

RAMSDEN LAWYERS – HOW WE CAN HELP

As a leading law firm with expertise in Commercial and Corporate transactions. Our team at Ramsden Lawyers worked tirelessly to ensure the transaction was successful, creating an emerging lithium exploration and development company with valuable resources in a highly sought-after lithium-rich region.

We understand the importance of effective legal representation at Ramsden Lawyers in Commercial and Corporate transactions. Our experienced Commercial and Corporate and Corporate team is equipped to handle all aspects of the transaction process, from due diligence to contract negotiation and beyond. Whether you’re a start-up looking to expand or an established company seeking to make strategic acquisitions, our team has the expertise and dedication to help you achieve your goals.

To learn more about how Ramsden Lawyers can assist with your Commercial and Corporate needs, please contact us today to schedule a consultation. We look forward to working with you.