Pacific Rim Cobalt commences drilling at Indonesian Cobalt-Nickel project
Tuesday, Jun 26, 2018
Pacific Rim Cobalt Corp., a resource company with assets located proximal to the world’s largest cobalt market, has announced the commencement of drilling activities at its Cyclops Cobalt-Nickel Project (formerly known as the TNM Project) located in Papua Province, Indonesia.

The Cyclops Cobalt-Nickel Project, recently renamed for its close proximity to the Cyclops mountain range, is situated on the north coast of Papua Province, Indonesia, a country ranked among the largest hosts of nickel laterite occurrences in the world. The project’s tidewater location offers strategic access to China, the largest battery metals markets in the world.

Pacific Rim Cobalt’s efforts will focus both on historically identified and drill-tested prospects as well as previously un-drilled prospects. The goal of the program is to establish a maiden compliant resource on the project as well as to identify target locations for extraction of mini bulk samples required for upcoming metallurgical and process testing. The program will be ongoing and during the next 6 months is scheduled to include approximately 150 holes totaling 5,000 meters of drilling.

“With the commencement of our inaugural drill program guided by historical data, we are optimistic about the unique possibility of developing this project into an asset that will add shareholder value and position the company to play a future role in the battery metals supply chain,” remarked Ranjeet Sundher, CEO of Pacific Rim Cobalt. “We expect the near-surface nature of cobalt/nickel mineralization at the Cyclops project will lend itself well to low-cost, logistically straightforward drilling. Thus, we anticipate the opportunity to undertake a resource calculation study, as well as ongoing metallurgy and process option testing, will present itself in the near future. It's going to be a busy year ahead, and we look forward to getting the drills turning and building value."

The project area benefits from excellent infrastructure including proximity to a workforce and supplies, sealed roads, ocean access, electrical grid power, 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 to the east, and with Jayapura, the capital city of Papua province, located about 40 kilometres to the east.

Drilling will consist of shallow holes (up to 35-metre vertical depth each), which, based on historical information, is sufficient to intersect both the upper limonite zone, as well as the lower nickel saprolite zone. The Cyclops project was extensively explored by previous operators with a focus on nickel mineralization, during which time they completed 856 drill holes and 26 test pits.

The Company has also begun detailed drone-controlled topographic and photographic surveys. This information will provide control for ongoing development activities that include geological mapping, test pitting and diamond drilling.

An operations office in the capital city of Jayapura and a field operations facility in Sentani have now been established and are operational. The field operations facility will house sample preparation and storage as well as drilling equipment and consumables. The sample preparation setup is under construction and is nearing completion with related equipment on order. In addition, the Company has established an office in Jakarta for finance/accounting and support services for field exploration activities.

A core team of Company professionals together with geological contractors and local labor is already operating in the field. The team covers the key functions of geological support, drilling support, regional government relations, local community relations, logistics and finance.

For more information, please visit: https://pacificrimcobalt.com/

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