Cypress Development Corp. : Cypress Drills 230 feet of 13% Zinc and 83 g/t Silver at Gunman Project in Nevada
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Cypress Development Corp. /
Cypress Development Corp. : Cypress Drills 230 feet of 13% Zinc and 83 g/t
Silver at Gunman Project in Nevada
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The issuer is solely responsible for the content of this announcement.
TSX-V Trading Symbol: CYP
Email: info(at)cypressdevelopmentcorp.com
October 14, 2014
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF)
(Frankfurt: C1Z) ("Cypress" or the "Company") is pleased to announce assay
results from the Phase 2 (2014) drill program recently completed at its 100%
owned Gunman zinc-silver project in Nevada. The 2300 acre Gunman zinc-silver
project is located directly west of Barrick's Bald Mountain gold mine complex on
the southern Carlin mineral trend in White Pine County, Nevada.
Gunman Project Southern Carlin Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
A further eleven reverse circulation (RC) delineation drill holes were completed
in the Phase 2 program at the Gunman project in Nevada. The drilling program
totaled 3370 feet and was directed at the main RH Zone located in the central
portion of the property. Delineation drilling within the RH Zone intersected
long intervals of strong dolomitic alteration containing abundant gossanous
polymetallic oxide zones. Assays from five foot interval samples within the
oxide zone and adjacent fractured dolomitized limestone show spectacular zinc
and silver mineralization.
Gunman Project zone target map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman2014Claims.jpg
The purpose of the Phase 2 2014 drill program was to further delineate the known
RH Zone. The majority of the holes completed in the Phase 2 program were
collared on the outside parameters of the main RH Zone to potentially increase
the size of the deposit. The Company is pleased it has increased the size of the
RH Zone, as indicated with the latest assay results below. Cypress is also
pleased that 2 holes of the Phase 2 drill program encountered intersections of
copper in the latest assays. Hole GMRC-20 assays indicate an intersection of 55
feet (15'-70') assaying an average of 0.18% Cu that contains a 10 foot
intersection (20'-30') averaging 0.26 Cu, and a 10 foot intersection (60'-70')
averaging 0.25% Cu. Hole GMRC-21 assays indicate an 50 foot intersection (10'-
60') averaging 0.18% Cu. The Company is pleased with these newest copper assays
in that the results continue to enhance the Gunman project.
The assays from the 2014 Phase 2 drilling within the RH Zone are summarized in
the table below.
RH Zone Phase 2 Zinc and Silver Assay Results
+-----------+-----------+---------+---------------+----------+--------+
| Hole ID | From (ft) | To (ft) | Interval (ft) | Ag (g/t) | Zn (%) |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-14 | 290 | 325 | 35 | 5.34 | 0.08 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-15 | 75 | 225 | 150 | 74.91 | 13.64 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 85 | 185 | 100 | 108.00 | 20.16 |
+-----------+-----------+---------+---------------+----------+--------+
| and | 345 | 415 | 70 | 18.88 | 1.06 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-16 | 0 | 230 | 230 | 83.41 | 13.35 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 125 | 220 | 95 | 164.75 | 26.84 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-17 | 165 | 240 | 75 | 5.15 | 0.25 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 215 | 225 | 10 | 16.45 | 0.68 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-18 | 155 | 240 | 85 | 14.08 | 0.46 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 160 | 185 | 25 | 20.10 | 0.74 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 215 | 240 | 25 | 17.50 | 0.25 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-19 | 0 | 250 | 250 | NSV | NSV |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-20 | 0 | 210 | 210 | 60.27 | 6.83 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 55 | 175 | 120 | 90.70 | 11.28 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 150 | 170 | 20 | 53.32 | 32.54 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 85 | 115 | 30 | 153.03 | 9.41 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 125 | 175 | 50 | 94.84 | 17.25 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-21 | 0 | 105 | 105 | 4.76 | 1.42 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 85 | 95 | 10 | 2.50 | 9.14 |
+-----------+-----------+---------+---------------+----------+--------+
| and | 130 | 135 | 5 | 2.40 | 3.89 |
+-----------+-----------+---------+---------------+----------+--------+
| and | 190 | 205 | 15 | 4.00 | 5.33 |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-22 | 90 | 150 | 60 | 34.41 | 16.21 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 105 | 145 | 40 | 43.82 | 23.89 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 105 | 130 | 25 | 60.44 | 25.94 |
+-----------+-----------+---------+---------------+----------+--------+
| and | 180 | 190 | 10 | 73.20 | NSV |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-23 | 0 | 260 | 260 | NSV | NSV |
+-----------+-----------+---------+---------------+----------+--------+
| GMRC-24 | 180 | 255 | 75 | 62.35 | 4.59 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 195 | 225 | 30 | 132.12 | 7.99 |
+-----------+-----------+---------+---------------+----------+--------+
| including | 210 | 225 | 15 | 205.30 | 11.04 |
+-----------+-----------+---------+---------------+----------+--------+
* NSV = no significant values.
* g/t = grams per metric tonne.
* True width lengths are estimated to be approximately 95% of downhole
intervals.
RH Zone Geologic Discussion
Evidence from both drilling and surface exposures of the RH Zone continues to
strongly suggest that the mineralization is structurally controlled and is
focused within an envelope of hydrothermally altered, fractured and brecciated
dolomite. Outcrop and drill data also indicate that the dolomite is of
hydrothermal origin.
Data gathered during the 2014 Phase 1 and Phase 2 drill programs point strongly
to base metal, precious metal veining within a focused zone of dolomite
alteration, fracturing and brecciation forming within an active zone of
faulting. Subsequent oxidation of the original poly metallic veining
mineralization has produced significant down hole intervals of spectacular,
silver and zinc rich oxide gossans with local sulfide cast boxworks. The RC
drilling to date of both the 2014 Phase 1 and Phase 2 programs continue to
expand the size of the known zinc-silver oxide deposit of the main RH Zone on
the Gunman property in Nevada. Cypress' management is very pleased with the
positive assay results and drill progress seen to date in 2014.
Based upon the exceptional exploration results to date, Cypress Development is
presently planning a Phase 3 RC drill program for the Gunman project expected to
begin prior to year end.
Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp. is
the Qualified Person as defined by National Instrument 43-101 and has supervised
both the project field work and the preparation of the technical information in
this release.
Quality Assurance
Detailed Notes on Chemex Assay Procedures Used: A basic aqua regia-ICP multi-
element package was run on 50 gram splits from 250 gram master pulps. Intervals
assaying >100 grams/tonne silver and/or 1% zinc were rerun using a complete aqua
regia digestion followed by ICP-AES analysis. Intervals assaying greater than
30% zinc following complete aqua regia digestion were then re-assayed from a
fresh 50 gram pulp using classical titration methods.
About Cypress Development Corp.:
Cypress Development Corp. is a diversified precious and base metals exploration
and development company with properties in Red Lake, Ontario, Canada, and in
Nevada, U.S.A.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Huston"
DONALD C. HUSTON
President
For further information contact myself or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)cypressdevelopmentcorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-
looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability of
capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Cypress Development Corp. via GlobeNewswire
[HUG#1862008]
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