Apr 12, 2019 (NetworkNewsWire via COMTEX) -- Canada-based exploration company Pacific Rim Cobalt (otcqb:PCRCF) (xfra:NXFE) recently provided a Cyclops, nickel/cobalt project development update, as well as next steps for the company in 2018. Per the update, the company reported mini-bulk sample and drilling results indicating strong mineralization occurring from surface with nickel values of up to 2.65 percent and 1.78 percent, as well as cobalt of up to 0.24 percent and 0.16 percent. In addition, the company's partner for mineral process and extraction completed a successful bench scale scoping program yielding recoveries of up to 98.6 percent nickel and 96.5 percent cobalt. Pacific Rim continues to receive drilling results it expects to disclose regularly through the balance of 2019. This year's planned Phase 1 and Phase 2 drilling programs are approximately 15 percent complete with 50 percent of drilled holes assayed and made public. Further, the company aims to complete its maiden resource estimate at Cyclops in accordance with National Instrument 43-101 standards and may, in 2019, commence formal negotiations with Beijing Easpring Material Technology Co., Ltd. to achieve a binding Offtake Agreement for nickel and cobalt sulphates. The companies are currently party to a July 2018 Preliminary Offtake Agreement.
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About Pacific Rim Cobalt Corp.
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 the company's website at www.PacificRimCobalt.com .
NOTE TO INVESTORS: The latest news and updates relating to PCRCF are available in the company's newsroom at http://nnw.fm/PCRCF
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