Uranium Mining and Exploration

[Lone Clone]

Primary Cobalt Announces Initial Prospecting Study on Potential Vanadium - Uranium Claims in Utah and Colorado Uravan Belt

https://finance.yahoo.com/news/primary-cobalt-announces-initial-prospecting-130000223.html

FSCWireJuly 25, 2018

Vancouver, British Columbia (FSCwire) - Primary Cobalt Corp. (CSE-PRIM) ("Primary" or the "Company") is pleased to announce it has commenced a prospecting study on key vanadium - uranium claims in the highly prospective Uravan belt in Utah and Colorado.

The Uravan Mineral Belt has been explored since the late 1880s, when early prospectors discovered radium, vanadium and uranium in the carnotite minerals of the Paradox Valley.

Although vanadium and uranium occurrences are ubiquitous and are known to exist in over 20 distinctly different sedimentary units in the Uravan belt, the Pennsylvanian-Permian Rico Formation and the Upper Jurassic Entrada Sandstone are the only formations which have been mined previously for vanadium and uranium. Most of the past production has come from the Entrada Sandstone. Historically, there have been a number of uraniferous vanadium deposits developed in the Entrada Sandstone along a sinuous trend extending in a north-south direction for over 100 miles. This trend coincides with a major structural feature representing a transitional zone between the Colorado Plateau and the Southern Rocky Mountain physiographic provinces.

Patrick Morris stated, “Based on the results of previous exploration and past production within the Uravan belt, this coupled with recent US political focus on sourcing strategic metals locally represents an opportunity for Primary and its shareholders”.

The rising demand for vanadium as a steel alloy and the Vanadium Redox Flow Batteries (“VRFBs”) has sparked renewed interest in the vanadium deposits in the Uravan Belt. VRFB’s are getting more attention from utilities companies, and large battery projects have already been announced.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ Patrick Morris

President

Patrick Morris, CEO

Telephone: [phone]

E-mail: [e-mail]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.





To view the original release, please click here


Source: Primary Cobalt Corp. (CSE:PRIM)