BOLT: Canadian Securities Exchange
VANCOUVER, BC: Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”) (CSE: BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE) announces today it has engaged Moats Scientific and Metallurgical Consulting, LLC (“MSM”) to conduct a high level technical review of processing options for the nickel-cobalt bearing material present at the Company’s TNM project, Indonesia.
The review is expected to be completed by March 31, 2018 and will include:
1) Descriptions of previous plants that have treated similar material with specific focus on recovery of nickel and cobalt values
2) Descriptions of processes that could be used for the material-type but have not been built at a commercial level
3) Identification of pros and cons for each process flowsheet reviewed
4) Recommendations for future work to minimize testing and quickly focus on 1 or 2 flowsheet options for further investigation.
MSM’s principal is considered to be a global leader in extractive metallurgy of copper, cobalt and nickel, having written the book “Extractive Metallurgy of Nickel, Cobalt and Platinum Group Metals”.
Ranjeet Sundher, Pacific Rim Cobalt’s President and Chief Executive Officer, said, I believe we have an exceptional opportunity to build a company in the battery metals sector. Pacific Rim Cobalt plans on creating significant shareholder value by leveraging the “once in a lifetime” global shift from fossil fuels to renewable energy.
Demand for nickel and cobalt is expected to increase as production and adoption of electric vehicles (EVs) and their lithium-ion battery packs continue to grow. The EV market utilizes three principal battery types: lithium-cobalt-oxide (LCO), nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminium-oxide (NCA), which utilize nickel and cobalt.
About Pacific Rim Cobalt
Pacific Rim Cobalt is a Canadian-based exploration company focused on the acquisition and development of production grade cobalt deposits, a key raw material input for the growing lithium-ion battery industry.
Pacific Rim Cobalt Corp.
Ranjeet Sundher – President and CEO
Steve Vanry – CFO & Director
Sean Bromley – Director & Investor Contact
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Pacific Rim Cobalt’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “plan”, “estimate”, “expect”, “intend”, “potential”, “should,” and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding future oriented events and other statements that are not facts. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Pacific Rim Cobalt operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Such forward-looking statements should therefore be construed in light of such factors. Although Pacific Rim Cobalt has attempted to identify important factors that could cause actual results, performance or achievements 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 anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Pacific Rim Cobalt disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Pacific Rim Cobalt does not assume any liability for disclosure relating to any other company herein.