Cypress Samples Up to 3,730 ppm Li at Dean Lithium Project in Clayton Valley, Nevada
(firmenpresse) - Cypress Samples Up to 3,730 ppm Li at Dean Lithium Project
in Clayton Valley, Nevada
December 01, 2016, Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) (Cypress or the Company) is pleased to announce that the Company has received additional results from a Phase 2 sampling program at Cypress 2,700 acre Dean Lithium Brine/Claystone Project located in Clayton Valley, Esmeralda County, Nevada.
Cypress Clayton Valley Lithium Project, Nevada location map:http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
The Company's 2700 acre Dean Claim Group is located adjacent to producing lithium brine wells belonging to the Albemarle Silver Peak Mine on its west boundary, Pure Energy's resource area on its southwest boundary and Cypress' existing Glory Clayton Valley Project, optioned to Pure Energy, on its southern boundary.
In October, Cypress initiated a Phase 2 detailed surface sampling program on the Companys 100% owned Dean Project. Another 72 samples were collected and submitted for analysis for lithium content.
Highlights:
- Maximum lithium value in claystone/mudstone was 3,730 ppm lithium (0.82% Li20 equivalent)
- 8 samples assayed greater than 2000 ppm lithium (0.43% Li20 equivalent)
- 29 samples assayed greater than 1000 ppm lithium (0.22% Li20 equivalent)
- An area of >2 square kilometers has been identified as a new high-grade zone.
- The new zone has been named the Frontera Verde Zone and this zone is open for expansion to the north and south
- Initial chip channel samples demonstrate vertical continuity of mineralization to 3.25 meters (see table 1 below).
- BLM permitting is underway in preparation for drilling of the new zone
Table 1: Cypress Dean Outcrop Sampling Results Highlights
Sample Rock Li ppm Sample Rock Li ppm
# Type # Type
Dean-26Mudstone640 CV00802Clayston3730
e
Dean-27Mudstone900 CV00803Mudstone1660
Dean-28Clayston1350 CV00805Mudstone1000
e
Dean-41Clayston1100 CV00806Clayston1030
e e
Dean-44Clayston1890 CV00810Clayston1480
e e
CV00210Clayston2040 CV00811Clayston1320
e e
CV00221Clayston2310 CV00812Clayston1750
e e
CV00224Clayston3830 CV00813Clayston2130
e e
CV00225Mudstone920 CV00814Mudstone1000
CV00226Mudstone910 CV00818Mudstone1640
CV00790Mudstone2440 CV00819Mudstone1450
CV00792Mudstone510 CV00820Mudstone800
CV00793Mudstone510 CV00821Mudstone1150
CV00794Mudstone2530 CV00822Siltston810
e
CV00795Clayston1030 CV00823Ashstone570
e
CV00796Mudstone780 CV00824Clayston1090
e
CV00797Mudstone1770 CV00825Mudstone1110
CV00798Mudstone1780 CV00826Mudstone750
CV00799Mudstone1410 CV00827Clayston1060
e
CV00800Clayston1590 CV00801Clayston2220
e e
CV00828 2.5 1790 CV00829 3.25 1390
meter meter
chip chip
channel channel
*Note ppm = parts per million, Li = lithium metal
Dean sample locations and assay values map:
http://www.cypressdevelopmentcorp.com/i/maps/Dean-Sample-Map-Nov16.jpg
Several first order targets are now being defined on the property which include extensive outcropping of altered green evaporate-rich volcanoclastic claystone/mudstone exposure known as the Frontera Verde Zone. The Frontera Verde Zone covers an area of greater than 2 square kilometers. The average lithium grade of the Frontera Verde Zone is greater than 1500 ppm Li. The mineralization seen on the Dean Project is essentially identical to the Cypress Glory Project immediately to the south, now being jointly explored by Cypress Development and earn-in partner Pure Energy Minerals.
Outcropping lithium-rich mudstones at Dean Project:
http://www.cypressdevelopmentcorp.com/i/maps/Dean-Chip-Channel-Samples-Far-South.jpg
Donald Huston, President Cypress Development, stated the recent assay results from the sampling program on the Dean Project has returned some of the highest grade lithium numbers in claystone that has ever been reported in Clayton Valley, Nevada. It is evident, from the surface mapping and sampling completed, that the lithium-rich claystone extends over a large area of the property known the Frontera Verde Zone. Cypress management are very encouraged with the progress seen to date and will continue with work on potential lithium extraction methods for the claystones.
The Dean property is composed of the same claystones / mudstones as seen on the Glory property to the immediate south, and under option to Pure Energy Minerals (see their news release Nov. 28). The geology consists predominantly of uplifted claystone and mudstone sequences and ash tuffs, covered by thin (less than 2 meters) layer of channel wash gravels.
Additional assay methods recently carried out by Cypress on the Dean Project clearly show that the lithium in the uplifted exposed lake bed sediments is easily leached by a dilute acid solution and a deionized water method.
Cypress in the process of making application to the BLM, Nevada for a Permit to allow for a series of drill holes into the new Frontera Verda Zone on the Dean Project.
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. Blind sample blanks were inserted into the sample sequences at a rate of approximately 1 per 20 samples.
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
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
Email: info(at)cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYP
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.
Leseranfragen:
Cypress Development Corp. ist ein diversifiziertes Edel- und Grundmetallexplorations- und -erschließungsunternehmen.
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Datum: 01.12.2016 - 13:32 Uhr
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