Pacific Rim Cobalt Drilling Confirms Significant, Near Surface Cobalt and Nickel Mineralization
Pacific Rim Cobalt Drilling Confirms Significant, Near Surface Cobalt and Nickel
Mineralization
Shallow intersections with highly anomalous cobalt and nickel encountered in a continuous zone
overlying the previously reported nickel saprolite mineralization
Vancouver, B.C. – September 24, 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 drilling program at its flagship Cyclops, nickel/cobalt development project, Indonesia. The drilling
is part of a multi‐faceted exploration program aimed at confirm ing historical results and guiding a project
development plan.
Highlight Intersections include:
11 metres @ 0.89% nickel, 0.15% cobalt; from surface
8 metres @ 1.03% nickel, 0.29% cobalt; from surface
7 metres @ 1.19% nickel, 0.20% cobalt; from surface
8 metres @ 1.42% nickel, 0.16% cobalt; 2 metres from surface
10 metres @ 1.31% nickel, 0.15% cobalt; from surface
10 metres @ 0.80% nickel, 0.14% cobalt; from surface
10 metres @ 1.65% nickel, 0.12% cobalt; from surface
8 metres @ 0.96% nickel, 0.14% cobalt; from surface
As previously announced highly anomalous cobalt values together with elevated nickel were intersected in
the near surface zone. These intersections were encountered in the limonite zone and form a continuous
blanket over the entire 600 metre x 300 metre area drilled.
This zone varies in thickness from 2 to 11 metres and immediately overlies previously reported nickel values
in the saprolite zone and considerably enhances the potential size of the mineralized body of material.
" T h e C o m p a n y i s v e r y p l e a s e d w i t h t h i s l a t e s t r o u n d o f d r i l l r esults. The elevated cobalt values are of
significant importance, considering the commodity’s recent price increase and the role it plays in the
battery metals supply chain. Both our cobalt and nickel results continue to add to our optimism that the
Cyclops project will create shareholder value." remarked Ranjee t 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 US$700 million plant in Indonesia to produce nickel for batteries.
The zone has been bulk sampled for follow up metallurgical test work in the current on‐going bench scale
program. This style of mineralis ation from previous scoping tes t work is amenable to processing by acid
leach for the recovery of cobalt and nickel and will be subject to further test work in the current detail
bench scale work.
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
Drill intersections with cutoff grades at 0.05% and 0.10% cobalt included:
HOLE ID From To Length Nickel Cobalt NiEQ Cutoff
Grade
(m) (m) (m) (%) (%) (%) (%)
DD219 2.00 5.00 3.00 1.24 0.12 1.50 0.05% Co
And 3.00 5.00 2.00 1.43 0.16 1.75 0.10% Co
DD466 0.00 2.00 2.00 1.47 0.15 1.78 0.05% Co
DD201 0.00 3.00 3.00 1.21 0.10 1.42 0.05% Co
And 1.00 3.00 2.00 1.42 0.12 1.66 0.10% Co
DD202 0.00 4.80 4.80 0.91 0.16 1.24 0.05% Co
DD262 0.00 7.00 7.00 0.84 0.09 1.03 0.05% Co
And 4.00 7.00 3.00 1.29 0.13 1.56 0.10% Co
DD264 1.00 4.00 3.00 1.45 0.22 1.90 0.05% Co
DD266 0.00 6.00 6.00 1.32 0.20 1.73 0.05% Co
And 1.00 5.00 4.00 1.47 0.26 2.00 0.10% Co
DD268 0.00 8.00 8.00 1.03 0.29 1.63 0.05% Co
And 3.00 8.00 5.00 1.19 0.43 2.07 0.10% Co
DD242 0.00 3.00 3.00 1.17 0.13 1.44 0.05% Co
And 1.00 3.00 2.00 1.43 0.17 1.77 0.10% Co
DD267 0.00 4.00 4.00 1.06 0.13 1.33 0.05% Co
DD269 0.00 5.00 5.00 1.20 0.14 1.49 0.05% Co
And 2.00 5.00 3.00 1.48 0.19 1.87 0.10% Co
DD271 0.00 8.00 8.00 1.23 0.11 1.45 0.05% Co
HOLE ID From To Length Nickel Cobalt NiEQ Cutoff
Grade
(m) (m) (m) (%) (%) (%) (%)
DD273 0.00 7.00 7.00 1.19 0.20 1.61 0.05% Co
And 2.00 6.00 4.00 1.39 0.30 2.01 0.10% Co
DD260 0.00 2.00 2.00 1.09 0.25 1.59 0.05% Co
And 1.00 2.00 1.00 1.45 0.40 2.28 0.10% Co
DD276 0.00 5.00 5.00 1.09 0.11 1.31 0.05% Co
DD274 0.00 5.00 5.00 0.92 0.11 1.15 0.05% Co
And 1.00 5.00 4.00 1.02 0.12 1.27 0.10% Co
DD220 2.00 10.00 8.00 1.42 0.16 1.76 0.05% Co
And 3.00 8.00 5.00 1.30 0.23 1.77 0.10% Co
DD240 1.00 4.00 3.00 1.43 0.21 1.86 0.10% Co
DD222 1.00 9.00 8.00 0.80 0.10 0.99 0.05% Co
And 2.00 9.00 7.00 0.82 0.10 1.02 0.10% Co
DD241 1.00 5.00 4.00 1.48 0.11 1.69 0.05% Co
And 2.00 5.00 3.00 1.70 0.11 1.93 0.10% Co
DD288 0.00 10.00 10.00 1.31 0.15 1.61 0.05% Co
And 1.00 8.00 7.00 1.24 0.18 1.62 0.10% Co
DD295 0.00 10.00 10.00 0.80 0.14 1.09 0.05% Co
And 5.00 10.00 5.00 1.08 0.19 1.47 0.10% Co
DD305 0.00 3.00 3.00 1.00 0.17 1.34 0.05% Co
And 1.00 3.00 2.00 1.21 0.21 1.63 0.10% Co
DD294 0.00 6.00 6.00 0.66 0.13 0.93 0.05% Co
And 2.00 6.00 4.00 0.77 0.16 1.09 0.10% Co
DD304 0.00 4.00 4.00 0.82 0.14 1.11 0.05% Co
DD306 0.00 5.00 5.00 1.01 0.12 1.26 0.05% Co
DD282 0.00 7.00 7.00 1.12 0.11 1.34 0.05% Co
And 2.00 6.00 4.00 1.40 0.14 1.68 0.10% Co
DD291 0.00 5.00 5.00 0.87 0.18 1.23 0.05% Co
And 2.00 5.00 3.00 0.98 0.24 1.49 0.10% Co
DD289 0.00 10.00 10.00 1.65 0.12 1.88 0.05% Co
And 0.00 6.00 6.00 1.12 0.16 1.45 0.10% Co
DD299 0.00 5.00 5.00 1.24 0.13 1.51 0.05% Co
HOLE ID From To Length Nickel Cobalt NiEQ Cutoff
Grade
(m) (m) (m) (%) (%) (%) (%)
And 2.00 4.00 2.00 1.30 0.22 1.75 0.10% Co
DD300 0.00 8.00 8.00 0.96 0.14 1.25 0.05% Co
And 4.00 8.00 4.00 1.21 0.19 1.60 0.10% Co
DD301 0.00 11.00 11.00 0.89 0.15 1.20 0.05% Co
And 2.00 10.00 8.00 0.91 0.18 1.28 0.10% Co
DD310 0.00 6.00 6.00 1.05 0.14 1.34 0.05% Co
and 3.00 5.00 2.00 1.38 0.25 1.88 0.10% Co
DD314 0.00 5.00 5.00 1.17 0.14 1.45 0.05% Co
and 1.00 4.00 3.00 1.23 0.18 1.61 0.10% Co
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 Cyclops Project area located in Papua Province, Indonesia, benefits from excellent infrastructure,
including proximity to a work force and supplies, sealed roads, ocean access, nearby port facility, and gentle
topography. The road system enables year‐round access to the project and connects it with the large town
of Sentani, located about 15 kilometres (kms) to the east, and with Jayapura, the capital city of Papua
province, located about 40 kms 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
f o r f u r t h e r a n a l y s i s i f r e q u i r e d ; s a m p l e i n t e r v a l s o f 1 m ; s a m p le 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 (nickel equivalent)
calculation basis: cobalt price per 3 months (LME data) $36.50/kg; nickel price per 3 months (LME data) $17.60/kg; C
= ratio between cobalt price/nickel price; C = $36.50/$17.60 = $2.07; 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
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Company and with respect to the results of exploration and prospective plans in regards to the Cyclops
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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
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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
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