Cypress Report Up to 3,830 PPM Li at Glory Lithium Project in Clayton Valley, Nevada
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Nov. 16, 2016 (GLOBE NEWSWIRE) -- Cypress
Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the
"Company") is pleased to announce that the Company has received results from a
property wide grid sampling program at Cypress' 1520 acre Glory Lithium
Brine/Claystone Project located in Clayton Valley, Esmeralda County, Nevada.
Cypress' Glory Project is located within a 0.5 mile of lithium brine wells
belonging to the Albemarle Silver Peak Mine and the property shares its western
boundary with the lithium resource area of Pure Energy's Clayton Valley South
project.
In August 2016, Cypress optioned its Glory Project to Pure Energy Minerals with
Cypress remaining the operator of the project until Pure Energy earns a 51%
interest. The agreement allows the Company to advance its Glory Project while
working with and utilizing the geological expertise of the Pure Energy team.
Cypress Glory Clayton Valley Lithium Project, Nevada location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP_Clayton_Valley_South_Cypress_Ad
dition.jpg
Highlights:
* 239 Glory samples were collected on a systematic 100m X 100m grid
* 133 Glory samples assayed greater than 900 ppm Li
* New Glory zone discovered with a high grade of 3830 ppm Li
* Several open zones of 1400 to >2000 ppm Li have been identified
* 3 km long by 1 1/2 km wide zone of strong lithium mineralization is
present at surface on the Glory property
* Data supports that the lithium is from uplifted and exposed lake bed
sediments
* Grid sample results definitively confirm earlier samples reported by Cypress
Cypress Development has now completed a grid sampling program over the exposed
mineralized mudstone - claystone rocks package and the surrounding thin gravel
units. Thin volcanic ash units, which occur within the mudstone section, were
also sampled. A total 239 samples were collected on a 100m X 100m grid pattern.
Assay results of the grid sampling program are displayed in Table 1 below.
Lithium mineralization averaging >900 ppm Li was returned from 133 samples of
thick bedded to massive mudstone and claystone outcrops. These occurrences are
typically from high calcareous and saline sediments that formed in a lake bed
setting prior to being uplifted. The grid sample results definitively confirm
the earlier samples collected and reported by Cypress Development.
Uplifted lithium claystone stratigraphy at Cypress Glory Clayton Valley, Nevada:
http://www.cypressdevelopmentcorp.com/i/maps/CYP_Clayton_Evaporite_Stratigraphy.
jpg
Included in the mudstone samples is a newly discovered zone of strong lithium
mineralization in a previously un-prospected area in the north central portion
of the Glory Lithium property. Sample number RKCV-00224 returned 3830 ppm
lithium from a highly saline and calcareous claystone outcrop. This northern
area of the Glory property, and on the adjacent portions of Cypress' Dean
Lithium property, is characterized by outcrops of mudstone and claystone poking
above widespread, thin gravel cover units occurring in several square kilometers
of very low topographic relief.
Cypress considers this highly mineralized area as a prime target for developing
a large surface footprint of lithium mineralization averaging >2000 ppm.
Detailed follow-up channel sampling of the area is being planned to determine
the size of the higher grade zone which would become a focus area for further
development work.
Table 1: Cypress Glory Grid Sampling Results
+--------------------+-------------+-------------+-------------+-------------+
| Lithology Type | Number of | Average Li | High Li | Low Li |
| | Samples | Assay ppm | Assay ppm | Assay ppm |
+--------------------+-------------+-------------+-------------+-------------+
| Mudstone/Claystone | 133 | 906 | 3830 | 340 |
+--------------------+-------------+-------------+-------------+-------------+
| Volcanic Ash Tuff | 46 | 366 | 1060 | 20 |
+--------------------+-------------+-------------+-------------+-------------+
| Gravel Cover | 51 | 112 | 250 | 40 |
+--------------------+-------------+-------------+-------------+-------------+
*Note ppm = parts per million, Li = lithium metal
Glory Clayton Valley Nevada grid sampling map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Glory-2016-Grid-Samples-
small.jpg
As Table 1 shows, samples of thin volcanic ash and volcanic sandstone units were
taken where they were encountered on the sample grid. These units are locally
well mineralized but overall contain lower lithium values. These units are
generally >0.5 meter thick versus the multi-meters exposed thickness of
surrounding mudstones.
The assay results in Table 1 of thin gravel cover units on the grid shows lower
level but still highly anomalous lithium values in these thin, variably
indurated cover channel wash units.
The proposed next phase of exploration will consist of the collection of a
series of bulk samples for further metallurgical testing for developing
extraction methods to extract lithium from the large area of defined surface
mineralization.
One of the keys to Cypress' project is to determine if lithium can be
economically extracted directly from the highly mineralized claystones.
Preliminary lab testing by ALS Chemex in Reno has shown an average recovery of
35% lithium using a deionized water leach and an average recovery of 95% lithium
using a modified Aqua Regia leach.
Discussion of Grid Sample Results
As was stated earlier, the results of the systematic sampling fully confirm and
in several important cases, surpass the previously announced results of sampling
done by Cypress in the early stages of exploration of the Glory property. A 3
km long by 1.5 km wide zone of essentially continuous lithium mineralization
within uplifted lake bed sediments is present at surface on the Glory property.
The assays of mudstones and claystones average >900 ppm lithium and several open
zones of 1400 to >2000 ppm lithium have been identified as a result of the grid
sampling.
The lithium assays in the thin gravel cover units supports the notion that
lithium is being leached from uplifted and exposed lake bed sediments.
For Cypress, this process of leaching of lithium from the strongly mineralized
mudstone/claystone rock sections on the property has important implications.
First, it appears likely that higher lithium values may be found in the
subsurface versus in the surface exposures.
Cypress believes that lithium bearing brines could exist on its Glory property
within the water table below the exposures of lake bed sediments as a result of
vertical infiltration along zones of higher porosity, fault zones for example.
Quality Control and Quality Assurance:
All samples were submitted to ALS Chemex Labs in Reno, Nevada, for analysis
using an ME-ICP61, 33 element four acid digestion ICP method.
Robert Marvin, PGeo, 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 exploration
company that continues to acquire and develop potentially viable mineral
projects in the State of Nevada, U.S.A.
Cypress is very active in Clayton Valley, Nevada with its team committed to
systematically exploring its properties for both a lithium-brine resource and
expanding exploration relating to the potential for lithium that exists within
the recently discovered non-hectorite "claystones", that has seen recent high
lithium assays recovered from these same "claystones".
Cypress Development Corp. has approx. 27.9 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
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Company expects, are forward-looking statements. Although management believes
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Source: Cypress Development Corp via GlobeNewswire
Datum: 16.11.2016 - 14:00 Uhr
Sprache: Deutsch
News-ID 507519
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