Cypress Reviews 2014 Highlights and 2015 Exploration Plans
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Cypress Development Corp. /
Cypress Reviews 2014 Highlights and 2015 Exploration Plans
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Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYP Telephone: (604) 687-3376
Email: info(at)cypressdevelopmentcorp.com Facsimile: (604) 687-3119
NEWS RELEASE
January 20, 2015
Cypress Reviews 2014 Highlights and 2015 Exploration Plans
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF)
(Frankfurt: C1Z) ("Cypress" or the "Company") announces an update to
shareholders with a year-end review of the Company's activities in 2014 and is
providing exploration plans for 2015.
Cypress continues to expand its resource at its 100% owned 2,300 acre Gunman
zinc-silver project located directly west of Barrick's Bald Mountain gold mine
complex on the southern Carlin mineral trend in White Pine County, northeast
Nevada. The Company maintains a 100% interest in the highly prospective 4,700
acre Mackenzie Island gold property in the heart of the Red Lake gold camp in
northwestern Ontario. The McKenzie Island property is located west and adjacent
to Goldcorp's Cochenour / Bruce Channel gold mine.
Highlights for 2014:
* Completed a National Instrument 43-101 Technical Report on the Gunman zinc-
silver project, Nevada in February.
* Completed a very successful Phase 1 RC drill program on the Gunman zinc-
silver project on the RH Zone in May.
* Phase 1 results include Hole GMRC-9 assaying 175 foot interval that grades
121.0 g/t silver and 12.0% zinc starting at a depth of 50 feet.
* Completed a very successful Phase 2 RC drill program on the Gunman zinc-
silver project on the RH Zone in August.
* Phase 2 results include Hole GMRC-16 assaying 230 foot interval that grades
83.4 g/t silver and 13.4% zinc starting at surface.
* Doubled size of Gunman, Nevada land package in September.
* Completed a detailed surface sampling program (zinc, silver, copper) on the
Gunman, Nevada RH South Target in September.
* Purchased high resolution airborne magnetometer survey data over the Gunman,
Nevada project area in December.
* Purchased the remaining 20% interest in Red Lake, Ontario properties to own
100% of the Mackenzie island gold project.
* Maintained the Company's key gold properties on Mackenzie Island, Red Lake,
Ontario in good standing.
* Reviewed and compiled all past and current data relating to the Mackenzie
Island gold project.
Gunman Zinc-Silver Project, Nevada:
Gunman Project Southern Carlin Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
Cypress completed thirteen reverse circulation (RC) drill holes in May 2014 at
the Gunman zinc-silver project in eastern White Pine County, Nevada. The
drilling program totaled 3520 feet and was directed at three targets areas
located in the central portion of the property.
Table 1: May 2014 Phase 1 drill program highlights on RH Zinc-Silver Zone
Hole ID From FT To FT Interval FT Ag G/T Zn%
GMRC-4 20 175 155 128.0 7.2
including 125 175 50 87.7 17.1
including 135 150 15 83.9 30.6
GMRC-5 5 205 200 63.3 8.9
including 125 180 55 147.0 21.0
including 150 165 15 100.1 32.2
GMRC-9 50 225 175 121.0 12.0
including 130 215 85 209.2 19.7
* G/T = grams per metric tonne.
* True width lengths are estimated to be approximately 95% of downhole
intervals.
A further eleven RC delineation drill holes were completed in August 2014 in a
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.
Table 2: August 2014 Phase 2 drill program highlights on RH Zinc-Silver Zone
+-----------------------------------------------------------+
| Hole ID From FT To FT Interval FT Ag G/T Zn% |
| |
| GMRC-15 75 225 150 74.9 13.6 |
| |
| including 85 185 100 108.0 20.2 |
| |
| GMRC-16 0 230 230 83.4 13.4 |
| |
| including 125 220 95 164.8 26.8 |
| |
| GMRC-20 0 210 210 60.3 6.8 |
| |
| including 55 175 120 90.7 11.3 |
| |
| including 150 170 20 53.3 32.5 |
| |
| including 85 115 30 153.0 9.4 |
| |
| including 125 175 50 94.8 17.3 |
| |
| GMRC-22 90 150 60 34.4 16.2 |
| |
| including 105 145 40 43.8 23.9 |
| |
| including 105 130 25 60.4 25.9 |
+-----------------------------------------------------------+
* G/T = grams per metric tonne.
* True width lengths are estimated to be approximately 95% of downhole
intervals.
Geologic data collected during the August 2014 Phase 2 sampling program clearly
shows that the mineralized rock units at the RH South Target are nearly
identical to those known from drilling and limited outcrop at the strongly
mineralized main RH Zone.
Gunman Project, Nevada zone target map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman2014Claims.jpg
Assays from chip and grab samples confirm very high grade zinc, silver and
copper mineralization are present at surface at the RH South Target.
Table 3: August 2014 surface sampling highlights on RH South Target
Sample ID Chip or Grab Ag G/T Zn% Cu%
SRH CC-3 4 meter Chip 16.2 9.5 0.0
SRH CC-4 5 meter Chip 26.3 5.1 0.0
SRH CC-6 3 meter Chip 36.8 17.0 0.2
SRH CC-8 Grab 344.0 2.3 13.5
SRH CC-12 Grab 16.6 42.0 0.2
SRH CC-13 Grab 143.0 2.2 14.5
SRH CC-14 Grab 22.2 19.6 2.3
SRH CC-15 Grab 122.0 1.9 14.8
* G/T = grams per metric tonne.
* Grab samples are selective by nature and are unlikely to represent average
grades of any deposits.
Based upon the exceptional exploration results to date, Cypress Development is
presently planning its next phase drill program for the Gunman project, Nevada,
expected to begin this spring.
Mackenzie Island Gold Project, Red Lake, Ontario:
Cypress has compiled and completed an extensive review of all past and present
available data of its St. Paul's Bay and Mackenzie Island claims comprising the
Mackenzie Island gold project. Detailed available Magnetometer data presents a
strong case for potential gold targets along the southwest flank of the known
Dome Stock within the St. Paul's Bay claims. Cypress has encountered
intersections of 1.0 to 2.0 g/t gold over 5 meter widths including Hole M05-3
assaying 0.2 meter interval of 23.9 g/t gold and Hole M05--14 assaying 0.5 meter
interval of 17.0 g/t gold in past drill programs. The Company has also compiled
data available on the north side of the Dome Stock and it is evident that a
major geological contact exists between the greenstone host volcanics and the
intrusive. This contact stretches a few kilometers east to west across Mackenzie
Island in the middle of Cypress' claim group. The Company is in the planning
stage for an exploration program for the summer of 2015.
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.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Cypress Development Corp. via GlobeNewswire
[HUG#1888361]
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Datum: 20.01.2015 - 15:55 Uhr
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