Company Advises Phase One Testing is Complete
VANCOUVER, British Columbia, July 17, 2018 — Pacific Rim Cobalt Corp. (CSE:BOLT) (FRANKFURT:NXFE) (OTCQB:PCRCF) (the “Company” or “Pacific Rim Cobalt”) a resource company currently exploring the Cyclops Nickel-Cobalt Project (“Cyclops”), located proximal to the world’s largest cobalt market, is pleased to announce that it has engaged the services of an extractive technology and mineral process development partner (“Processing Partner”) for the selection of a suitable process for recovery of cobalt and nickel from laterite material.
In an already completed first phase of testing, the Processing Partner carried out a preliminary bench scale scoping program to evaluate a proprietary leach technology on two (2) Indonesian cobalt and nickel bearing laterite samples at their facilities in Ontario, Canada. The analog samples were sourced from a regional property in which the Company has no interest.
The laterite samples were leached using a specific mixed chloride process, employing a unique mixture of hydrochloric acid (HCl) and magnesium chloride (MgCl2) within a bench scale environment.
The results of the phase one scoping tests have demonstrated that the Processing Partner’s mixed chloride leach technology was effective in the recovery of value elements, namely Iron (Fe), Nickel (Ni), and Cobalt (Co) from the two laterite samples tested.
Leach extractions were as follows:
Sample 1: 97.3%, 98.6% and 96.5% for Fe, Ni, and Co respectively.
Sample 2: 93.9%, 90.7% and 92.2% for Fe, Ni, and Co respectively.
Phase two of the program is designed to confirm that the optimal leach conditions established in phase one are suitable for leaching 3 or 4 samples sourced from Pacific Rim Cobalt’s Cyclops Project, in order to establish metal separation of value metals; nickel, cobalt and manganese. The selected samples will be processed to the stage where a nickel and cobalt product purity can be established. Phase two is expected to result in a sample of battery-grade cobalt and nickel for marketing purposes and to provide a preliminary process flowsheet.
Phase three of the program involves commissioning and operation of a mini pilot plant to provide process design criteria for subsequent CAPEX/OPEX estimation and also to produce enough nickel and cobalt-bearing product for independent evaluation by several prospective battery industry purchasers.
Mr. Garry Clark, P. Geo., Independent Director of Pacific Rim Cobalt, is the qualified person as defined in NI 43-101, who has reviewed and approved the scientific and technical content in this presentation.
About Pacific Rim Cobalt Corp. (CSE: BOLT) (FRANKFURT: NXFE) (OTCQB: PCRCF)
Pacific Rim Cobalt Corp. is a Canadian publicly listed company currently focused on the development of cobalt projects within Indonesia. The Company believes cobalt will be the next dominant investment trend related to the critical components of lithium-ion batteries. Cobalt is currently in a global supply deficit, has a vulnerable supply chain, and is part of an emerging sector with extraordinary potential. For more information, visit: www.pacificrimcobalt.com.
Pacific Rim Cobalt Corp.
Ranjeet Sundher – President and CEO
Steve Vanry – CFO & Director
Sean Bromley – Director & Investor Contact
Notice Regarding Forward-Looking Statements
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 the progress of a definitive offtake agreement, potential development and production at the Company’s Cyclops project, 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