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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Pacific Rim Cobalt Corp    BOLT   CA69480L1076

PACIFIC RIM COBALT CORP

(BOLT)
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Pacific Rim Cobalt : Phase 2 Nickel-Cobalt Extraction Process Testing and Evaluation Commences

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06/27/2019 | 12:06am EDT

VANCOUVER, British Columbia, June 27, 2019 (GLOBE NEWSWIRE) -- Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”) (CSE: BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE) is pleased to announce it has shipped mini-bulk sample materials from its Cyclops nickel-cobalt property to its extractive technology and mineral process development partner. The shipment initiates part 2 of three-phase testing for a suitable process in the 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 Indonesian cobalt and nickel bearing laterite samples at its facilities in Ontario, Canada. The samples were representative of typical nickel laterite mined in Indonesia for processing and 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 previously completed phase 1 scoping tests 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 per cent, 98.6 per cent and 96.5 per cent for Fe, Ni and Co, respectively;
  • Sample 2: 93.9 per cent, 90.7 per cent and 92.2 per cent for Fe, Ni and Co, respectively.

Phase 2, the current program, is designed to confirm that the optimal leach conditions established in phase 1 are suitable in metal separation of value metals nickel, cobalt and manganese for samples sourced specifically from Pacific Rim Cobalt's Cyclops project. The selected samples will be processed to the stage where a nickel and cobalt product purity can be established. Phase 2 is expected to result in a sample of battery-grade cobalt and nickel for marketing purposes and to develop process flow design criteria for subsequent mini pilot/pilot plant testing to be conducted in Phase 3.

Phase 3 of the program involves commissioning and operation of a mini-pilot/pilot plant to provide process design criteria for subsequent capex (capital expenditures)/opex (operating expenditures) estimation and also to produce enough nickel and cobalt bearing product for independent evaluation by several prospective battery industry purchasers.

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 Person as defined by National Instrument 43-101.

About Pacific Rim Cobalt

Pacific Rim Cobalt is a Canadian‐based exploration company focused 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
rsundher@pacificrimcobalt.com

Steve Vanry – CFO & Director
(604) 922-8272
steve@vanrycap.com

Sean Bromley – Director & Investor Contact
(778) 985-8934
sbromley@investfortuna.com

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 statements of historical fact, are to be considered forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company and with respect to the results of exploration and prospective plans in regards to the Cyclops project. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Information provided in this document is necessarily summarized and may not contain all available material information. 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. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, success of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, 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 the Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

pacificrim.jpg

Source: Pacific Rim Cobalt

2019 GlobeNewswire, Inc., source Press Releases

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Managers
NameTitle
Ranjeet Sundher President, Chief Executive Officer & Director
Toto Suarto Sajali Manager-Operations & Development
Steven Edward Vanry Chief Financial Officer & Director
Sean Bromley Independent Director
James Garnet Clark Independent Director
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