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Pacific Rim Confirms Drilling and Extends High-Grade Nickel-Cobalt Mineralization in Indonesia

Mining News - Published on Thu, 12 Sep 2019

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Pacific Rim Cobalt Corp announced results from its ongoing 2019 shallow diamond drilling program at its flagship Cyclops Project, focused on nickel/cobalt development, in Papua Province, Indonesia. The drilling is part of a multi-faceted exploration program aimed at confirming historical results and structuring the go-forward development plan. The program was completed on the target plateau area developed over a lateritized upfaulted block of peridotite in order to test the continuity of the mineralized laterite profiles.

The total program involved the following:
75 drill holes varying in depth from 10 -29 metres
1019.5 metres drilled
898 samples assayed to date
51 Auger holes drilled to a depth of between 1–3 metres
11 test-pits completed for bulk sampling ranging in depth from 2–6 metres

The completion of this phase of the drill program was completed in the north block, a follow up with a 50 metre x 50 metre grid to test the continuity of previously encountered elevated zones of Ni and Co on the broad 100 metre x 100 metre grid. The mineralized laterite profile within the drilled area was found to be continuous over a zone of 600 metres x 300 metres with nickel values of interest from the surface to maximum depths of 16 metres within the saprolite zone. The overlying surface limonite zone consistently contains elevated cobalt and nickel values.

The eastern boundary of mineralized zone is confined by the edge of the up faulted block with the thickest and better grade intersections occurring on the western boundary of this area which extends into the main laterite area.

The drilled area overall is open to the west and south-west as it forms the eastern part of the main laterite zone where historic drilling encountered significant nickel and cobalt values.

Mr Ranjeet Sundher, President and Chief Executive Officer of Pacific Rim Cobalt said that “The Company is very pleased with this latest round of drill results. The elevated nickel values are of significant importance, considering the commodity’s recent price increase and the role it plays in the battery metals supply chain. We are optimistic about the unique possibility of developing this project into an asset that will add shareholder value.”

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Posted By : Rabi Wangkhem on Thu, 12 Sep 2019
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