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Primary Energy Metals to acquire vanadium-uranium-prospective claims in Utah

Primary Energy Metals Inc. said Sept. 5 that it signed a deal to buy 199 unpatented lode claims in Utah's Polar Mesa area from U.S. subsidiary Primary Nirvana Inc. and Green Energy Minerals Ltd.

Primary Energy Metals will pay US$180,000 to cover staking fees and payments to the county and the U.S. Bureau of Land Management and will issue 10 million shares.

The property, which is prospective for vanadium, has surface chip samples reporting vanadium grades as high as 5.63% and uranium grades of 2,100 parts per million.

The acquisition is in line with the company's new focus on battery mineral assets.