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Pacific Rim Begins Drilling at Indonesian Cobalt-Nickel Project
Jun. 26, 2018 10:58AM PST
Battery Metals Investing
Pacific Rim Cobalt is a Canadian listed company currently focused on the development of cobalt projects within Indonesia.
Pacific Rim Cobalt (CSE:BOLT,FWB:NXFE,OTCQB:PCRCF) has announced the commencement of drilling activities at its Cyclops cobalt-nickel project located in Papua Province, Indonesia. Pacific Rim Cobalt is a Canadian listed company currently focused on the development of cobalt projects within Indonesia.
As quoted from the press release:
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 six months is scheduled to include approximately 150 holes totalling 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.”
