Drilling confirms and extends high‐grade nickel‐cobalt mineralization
Drilling confirms and extends high‐grade nickel‐cobalt mineralization
Highlights:
Results continue to confirm the continuity of high‐grade nickel mineralization over an area of 600
metres x 300 metres
Intersections of up to 7 metres @ 2.05% nickel and 0.10% cobalt & 12 metres @ 1.66% nickel and
0.10% cobalt
Shallow mineralization with elevated cobalt grades including intersections of up to
11 metres @0.89% nickel and 0.15% cobalt from surface
Vancouver, B.C. – September 10, 2019 – Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”)
(CSE: BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE) is pleased to announce results from its ongoing 2019
shallow diamond drilling program at its flagship Cyclops Project, focused on nickel/cobalt development, in
Papua Province, Indonesia. The drilling is part of a multi‐face ted exploration program aimed at confirming
historical results and structuring the go‐forward development plan.
The program was completed on the target plateau area developed over a lateritized upfaulted block of
peridotite in order to test the continuity of the mineralized laterite profiles. The total program involved the
following:
• 75 drill holes varying in depth from 10 ‐29 metres
• 1019.5 metres drilled
• 898 samples assayed to date
• 51 Auger holes drilled to a depth of between 1 – 3 metres
• 11 test‐pits completed for bulk sampling ranging in depth from 2 – 6 metres
The completion of this phase of the drill program was completed in the north block, a follow up with a 50
metre x 50 metre grid to test the continuity of previously encountered elevated zones of Ni and Co on the
broad 100 metre x 100 metre grid. The mineralized laterite prof ile within the drilled area was found to be
continuous over a zone of 600 metres x 300 metres with nickel values of interest from the surface to
maximum depths of 16 metres within the saprolite zone. The over lying surface limonite zone consistently
contains elevated cobalt and nickel values.
The eastern boundary of mineralized zone is confined by the edge of the up faulted block with the thickest
and better grade intersections occurring on the western boundary of this area which extends into the main
laterite area.
The drilled area overall is open to the west and south‐west as it forms the eastern part of the main laterite
zone where historic drilling encountered significant nickel and cobalt values.
Drill intersections with cutoff grades at 1.00% and 1.50% nickel:
Hole
From
(m)
To
(m)
Length
(m)
Nickel
(%)
Cobalt
(%)
NiEQ1
(%)
Cutoff
Grade (%)
DD276 3 10 7 1.67 0.05 1.76 1.00% Ni
And 4 8 4 1.98 0.04 2.05 1.50% Ni
DD220 5 11 6 1.74 0.16 2.04 1.00% Ni
And 6 11 5 1.87 0.10 2.06 1.50% Ni
DD240 1 4 3 1.43 0.21 1.82 1.00% Ni
And 2 3 1 1.65 0.21 2.04 1.50% Ni
DD241 2 7 5 1.67 0.08 1.82 1.00% Ni
And 3 7 4 1.78 0.06 1.89 1.50% Ni
DD288 3 15 12 1.66 0.10 1.85 1.00% Ni
And 7 14 7 1.89 0.05 1.98 1.50% Ni
DD295 6 13 7 1.29 0.12 1.51 1.00% Ni
And 9 11 2 1.74 0.11 1.94 1.50% Ni
DD282 3 8 5 1.38 0.09 1.55 1.00% Ni
And 4 6 2 1.78 0.09 1.95 1.50% Ni
DD290 1 8 7 1.35 0.06 1.47 1.00% Ni
And 2 4 2 1.91 0.04 1.99 1.50% Ni
DD289 4 11 7 2.05 0.10 2.25 1.00% Ni
And 5 10 5 2.33 0.08 2.49 1.50% Ni
DD299 2 8 6 1.58 0.09 1.76 1.00% Ni
And 4 8 4 1.72 0.03 1.78 1.50% Ni
DD300 5 12 7 1.39 0.10 1.59 1.00% Ni
And 8 10 2 1.70 0.03 1.76 1.50% Ni
DD301 6 12 6 1.23 0.17 1.58 1.00% Ni
And 11 12 1 1.58 0.03 1.64 1.50% Ni
All drill intersections reported in this press release are true widths. All holes are vertical and the mineralizing system is flat lying and
parallel to the surface topography.
"The Company is very pleased with this latest round of drill res u l t s . T h e e l e v a t e d nickel values are of
significant importance, considering the commodity’s recent price increase and the role it plays in the
battery metals supply chain. We are optimistic about the unique possibility of developing this project into
an asset that will add shareholder value," remarked Ranjeet Sundher, President and Chief Executive Officer
of Pacific Rim Cobalt.
This month, Indonesia’s president Joko Widodo said the country should process more of its own natural
resources, such as coal, bauxite, palm oil and nickel, rather t han just exporting them. Indonesia has said it
wants to use its abundant nickel reserves to build an electric car industry. Last year, Chinese battery
materials company, GEM, said it would work with battery giant C ATL and stainless steel producer
Tsingshan, to build a $700 million plant in Indonesia to produce nickel for batteries.
A s t h e C o m p a n y ’ s C y c l o p s P r o j e c t i s l o c a t e d i n P a p u a P r o v i n c e , Indonesia, it benefits from excellent
infrastructure, including proximity to a work force and supplie s, sealed roads, ocean access, nearby port
facility, and gentle topography. The road system enables year‐round access to the area and connects it with
the large town of Sentani, located about 15 kilometres to the e ast, and with Jayapura, the capital city of
Papua province, located about 40 kilometres to the east.
Sample Processing
All drilling results discussed in the press release are JORC co mpliant with all protocols in place. Assaying
was completed at the Geo Assay Laboratory ‐ PT. Geoservices, Cikarang, Jakarta. The Geo Assay Laboratory
analyzed the samples using the XRF fusion method. PT Geoservice s Ltd ‐ Geo Assay Laboratory employed
industry standard internal QA/QC methods that Pacific Rim Cobalt reviewed and found acceptable.
Exploration drilling and sample procedure protocols include: insertion of blank and certified samples;
photographing and weighing of core; recording of recovery %; samples half cored with the balance retained
for further analysis if required; sample intervals of 1 metre; sample recovery is core; all drill location and
elevations recorded.
National Instrument 43‐101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. Garry Clark, PGeo,
independent director of Pacific Rim Cobalt and a Qualified Pers on as defined by National Instrument 43‐
101.
1NiEQ
calculation basis: cobalt price per 3 months (LME data) $32.10/kg; nickel price per 3 months (LME data) $15.85/kg; C
= ratio between cobalt price/nickel price; C = $32.10/$15.85 = $2.03; NiEQ = (%cobalt x C) + %nickel. No metallurgical
recoveries were applied to either metal as it is expected that the metallurgical recoveries will be similar for both metals.
About Pacific Rim Cobalt
Pacific Rim Cobalt is a Canadian‐based exploration company focu sed on the acquisition and development
of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion battery
industry. Visit https://pacificrimcobalt.com/ to find out more.
Pacific Rim Cobalt Corp.
Ranjeet Sundher – President and CEO
(604) 922‐8272
Steve Vanry – CFO & Director
(604) 922‐8272
Sean Bromley – Director & Investor Contact
(778) 985‐8934
Reader Advisory
This news release may contain statements which constitute “forward‐looking information” that are subject
to risks and uncertainties. All statements herein, other than s tatements of historical fact, are to be
considered forward‐looking, including statements regarding the plans, intentions, beliefs and current
expectations of the Company, its directors, or its officers with respect to the future business activities of the
Company and with respect to the results of exploration and prospective plans in regards to the Cyclops
project. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”,
“expect” and similar expressions, as they relate to the Company, or its management, are intended to identify
such forward‐looking statements. Although the Company believes the expectations expressed in such
forward‐looking information are based on reasonable assumptions, such information is not a guarantee of
future performance and actual results or developments may differ materially from those contained in
forward‐looking information. Information provided in this document is necessarily summarized and may not
contain all available material information. Although Pacific Rim Cobalt has attempted to identify important
factors that could cause actual results, performance or achieve ments to differ materially from those
contained in the forward‐looking statements, there can be other factors that cause results, performance or
achievements not to be as antici pated, estimated or intended. F actors that could cause actual results to
differ materially from those in f orward‐looking information inc lude, but are not limited to, fluctuations in
market prices, success of the operations of the Company, continued availability of capital and financing and
general economic, market or business conditions. There can be no assurances that such information will
prove accurate and, therefore, readers should not place undue reliance on forward‐looking statements. The
forward‐looking statements in this news release are made as of t h e d a t e o f t h i s n e w s r e l e a s e , a n d t h e
Company does not assume any obligation to update any forward‐lo oking information except as required
under the applicable securities laws.
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.