Cypress Reports Up to 2,600 PPM Li from Clayton Valley Lithium Project in Nevada
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, May 10, 2016 (GLOBE NEWSWIRE) -- Cypress
Development Corp.(TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the
"Company") is pleased to announce, further to its news release April
5(th) and May 3(rd), the Company has received additional assays from Cypress'
ongoing Phase 2 exploration program at its Clayton Valley Lithium Project in
Esmeralda County, Nevada.
Cypress Clayton Valley Lithium Project, Nevada location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
Cypress' Clayton Valley Lithium Project is located in the heart of the Clayton
Valley lithium brine exploration area of Esmeralda County, Nevada. The Company's
1520 acre Clayton Valley Project is located within one half mile of lithium
brine wells belonging to the Albemarle Silver Peak Mine and the property shares
its western boundary with Pure Energy's Clayton Valley South project.
Cypress Clayton Valley Lithium Project, Nevada claims map:
http://www.cypressdevelopmentcorp.com/i/maps/Clayton-Test-Wells-Plan-Map.jpg
The Albemarle Silver Peak mine is the only operating brine based lithium mine in
North America with lithium concentration in production brines reported to
average 160 ppm lithium (160 mg/litre) (Garrett Report, 2004).
Cypress 2016 Phase 2 Clayton Valley Project Exploration Results:
Assays reported by Cypress to date show a continuously mineralized volume of
lithium in claystones at surface on extensive portions of Cypress' Clayton
Valley property. The compiled results of three sampling events show 2 kilometers
of north-south strike of outcropping claystones that assay approximately 1,100
ppm lithium on average and include a 1.0 kilometer strike length zone that
averages 1350 ppm Li.
The strong lithium mineralization is contained within calcareous evaporite
rocks, dominantly carbonate rich lake-bed claystones with minor interbedded
volcanic ash units. This rock section represents uplifted portions of the
stratigraphy within which the lithium brines of the basin are produced.
Limited sampling of volcanic ash units by Cypress has occurred, sample #123238
(reported here) is an unconsolidated, biotite rich volcanic ash that has assayed
710 ppm lithium. Lithium mineralization within this ash unit is highly
encouraging as it suggests that the lithium mineralization so far defined at
surface has invaded all lithologic units found to date in the western portion of
the property.
Other ash units show clear west dipping structure of 10 to 20 degrees (local
exposures of much steeper dips have been seen). As a consequence of the rock
package being tilted, the surface sampling is exploring a considerable thickness
of the exposed basin fill evaporates and interbedded ash tuffs. Detailed mapping
is planned for the next several weeks as part of the Phase 2 program.
Cypress Clayton Valley 2016 Phase 2 lithium sampling sites map, Nevada:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-Phase-2.jpg
The table below shows newly received lithium assays from the ongoing 2016 Phase
2 surface sampling program. These samples were collected from the northwest
portion of the Cypress' Clayton Valley property. Due to space constraints, only
lithium assays are being show. A more complete data set containing the assays
of typical evaporite sequence minerals will be added to the website shortly.
Sample ID Li ppm Sample ID Li ppm Sample ID Li ppm
123208 1910 123219 770 123230 1240
123209 1170 123220 1610 123231 QA/QC Blank
123210 1790 123221 1210 123232 1190
123211 1000 123222 850 123233 1330
123212 860 123223 900 123234 1510
123213 900 123224 1430 123235 2600
123214 1460 123225 1260 123236 2250
123215 1230 123226 2020 123237 QA/QC Blank
123216 970 123227 2120 123238 710
123217 1270 123228 950 123239 1010
123218 1060 123229 1320 123240 1100
*NOTE: (Li=Lithium, ppm=parts per million, 1 ppm=1 milligram per litre)
Lithium Leachability Study:
A number of Phase 2 sample pulps are being re-assayed by ALS Chemex by both a
deionized water leach and a weak Aqua Regia leach to provide further data on
potential large-scale extraction methods of lithium from the mineralized
claystones.
Cypress is further moving forward at this time with mineral Identification
(ID) by X Ray Diffraction (XRD) and has started a bench scale study of
additional very dilute acid leaching methods in an advancing effort to develop a
low cost lithium extraction method for the strongly lithium mineralized,
outcropping calcareous evaporates (claystones) on the property.
Planned Phase 3 Dill Program:
Cypress has filed a Notice of Intent permit with the Bureau of Land Management
(BLM), Nevada for a planned Phase 3 drilling program. Cypress' Phase 3 program
will target lithium brines within the targeted Main Ash Aquifer and will also
include the drilling of shallow auger holes to provide initial subsurface data
and assays under wide areas of lithium rich claystones discovered in the 2016
Phase 1 and Phase 2 sampling programs. The auger holes are planned to test the
depth of lithium mineralization in claystones and will be sampled on composite
5 foot intervals.
Cypress Clayton Valley Project proposed drill hole and auger hole map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-Drill-Plan-Map-small-
apr16.jpg
The surface sampling and reconnaissance geologic results received by Cypress to
date are viewed as being highly encouraging for the presence of lithium rich
brines within the subsurface aquifers below the mineralized claystone. In
Cypress' view, lithium rich brines are likely to be found below the water table
below the mineralized outcrops and may be especially well developed along the
arcuate fault zones where fracturing will have increased the permeability of the
rock section.
Clayton Valley is located within the Basin and Range Province in southern Nevada
and is an internally drained, fault bounded and closed basin. Basin-filling
strata compose the aquifer system which hosts and produces the lithium-rich
brines.
Quality Control and Quality Assurance
All samples were assayed by ALS Chemex using a four acid digestion / ICP-Mass
Spec method. Blind sample blanks are being inserted into the sample sequences at
a rate of approximately 1 per 20 samples.
Robert Marvin, P.Geo, Exploration Manager for Cypress Development Corp. is the
Qualified Person as defined by National Instrument 43-101 and has approved of
the technical information in this release.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded lithium and zinc-silver
exploration company developing projects in Nevada, U.S.A.
Cypress Development Corp. has approx. 24.1 million shares issued and
outstanding.
To find out more about Cypress Development Corp. (TSX-V:CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
"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#2011412]
Datum: 10.05.2016 - 18:05 Uhr
Sprache: Deutsch
News-ID 470023
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