Pacific Rim Cobalt step-out drilling returns up to 1.91% nickel and 0.22% cobalt over 5 metres
Pacific Rim Cobalt step‐out drilling returns up to 1.91% nickel and 0.22% cobalt over 5 metres
Vancouver, B.C. – April 1, 2019 – Pacific Rim Cobalt Corp. (t he “Company” or “Pacific Rim Cobalt”) (CSE:
BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE) is pleased to announce r esults from its ongoing 2019 drilling
program at its flagship Cyclops, nickel/cobalt development project, Indonesia.
Drilling continues to confirm shallow intersections from surfac e with elevated cobalt up to 0.25% in the
limonite zone and nickel values of 1.91% in the underlying transition and saprolite zones. A total of 29 holes
for a total of 402 metres (m) have now been completed.
Highlights from the latest drilling results include:
Hole From (m) To (m) Length (m) Nickel (%) Cobalt (%) NiE Q1(%) Cutoff Grade (%)
DD265 0 1 1 0.53 0.06 0.68 0.05 Co
And 1 7 6 1.75 0.03 1.82 1.00 Ni
Including 1 6 5 1.91 0.03 1.98 1.50 Ni
DD266 0 5 5 1.12 0.22 1.66 0.05 Co
And 5 9 4 0.92 0.04 1.02 0.50 Ni
Including 5 7 2 1.26 0.06 1.41 1.00 Ni
* All drill intersections reported in this press release are true widths
KEY POINTS
Drilling consistently confirming elevated nickel and cobalt values
Shallow mineralization from surface to maximum depths of 12m
2019 drilling to date was focused on delineation of the eastern boundary of mineralization
Exploration to progressively expand to the west into core mineralized areas
Resource estimate expected in late 2019
Exploration funding in place for balance of 2019
“The strong drill results from an area that is historically underexplored indicates there’s room for expansion
of the mineralization footprint at Cyclops”, remarked Ranjeet S undher, Chief Executive Officer of Pacific
Rim Cobalt. “We will soon be focused in core areas of the project where drilling the full depth of the
mineralized horizons may provide further evidence of its true size potential.”
Indonesia is nickel
One of the world's largest sources of nickel production by natio n i s I n d o n e s i a . T h e c o u n t r y i s r i c h w i t h
deposits of the metal, many of which have yet to be effectively exploited.
The dominant source of nickel in country is laterite deposits w hich are composed of long, shallow tabular
bodies. The company's Cyclops project is such an occurrence.
Indonesia’s large nickel laterite ore reserves ‐ prized for nic kel pig iron used in sta inless steel production ‐
are also a vital ingredient for lithium‐ion batteries used to power EVs. (Reuters)
Other laterite projects in the region include MMC’s $2.1 billion Ramu nickel mine in Papua New Guinea @
1 . 0 % n i c k e l ; E R A M E T ’ s W e d a B a y @ 1 . 3 6 % n i c k e l ; a n d A N T A M ’ s G a g island @ 1.63% nickel, both in
Indonesia.
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 (km) to the east, and with Jayapura, the capital city of Papua
province, located about 40 kms to the east.
Additional drill results include:
Hole ID From (m) To (m) Length (m) Nickel % Cobalt % NiEQ1 % Cutoff Grade (%)
DD239 0 3 3 0.92 0.12 1.21 0.05% Co
And 3 13 10 0.90 0.02 0.95 0.5% Ni
Including 3 9 6 1.09 0.02 1.14 1% Ni
DD201 0 2 2 0.89 0.09 1.11 0.05% Co
And 2 7 5 1.58 0.04 1.68 1% Ni
Including 2 5 3 1.91 0.05 2.03 1.5% Ni
DD202 0 4.8 4.8 0.91 0.16 1.30 0.05% Co
DD262 0 7 7 0.84 0.16 1.23 0.05% Co
And 7 12 5 0.96 0.02 1.01 0.5% Ni
Including 7 10 3 1.18 0.02 1.23 1% Ni
Including 7 8 1 1.51 0.02 1.56 1.5% Ni
DD263 0 3 3 0.85 0.11 1.12 0.05% Co
And 3 5 2 1.07 0.03 1.14 0.5% Ni
Including 3 4 1 1.14 0.05 1.26 1% Ni
DD264 1 3 2 1.42 0.25 2.03 0.05% Co
And 3 8 5 1.10 0.04 1.20 0.5% Ni
Including 3 6 3 1.38 0.06 1.53 1% Ni
Including 3 5 2 1.54 0.09 1.76 1.5% Ni
1NiEQ calculation basis: cobalt price per 3 months (LME data) $32/kg; nickel price per 3 months (LME data) $13.07/kg
C = ratio between cobalt price/nickel price; C = $32/$13.07 = 2 .44; NiEQ = (%Co x C) + % Ni. No metallurgical recoveries were
applied to either metal as it is expected that the metallurgical recoveries will be similar for both metals.
Sample Processing
All drilling results discussed in the press release are JORC co mpliant with all protocols in place 2. Assaying
was completed at the Geo Assay Laboratory ‐ PT. Geoservices, Cikarang, Jakarta. The Geo Assay Laboratory
analysed 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.
2JORC compliant exploration drilling and sample procedure protoc ols include: insertion of blank and
certified samples; photographing and weighing of core; recordin g of recovery %; samples half cored with
the balance retained for further analysis if required; sample i ntervals of 1m; 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.
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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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
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