Cypress Samples Up to 3730 ppm Li at Dean Lithium Project in Clayton Valley, Nevada
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Dec. 01, 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 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 2,700 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
Company's 100% owned Dean Project. Another 72 samples were collected and
submitted for analysis for lithium content.
Highlights:
* Maximum lithium value in claystone/mudstone was 3730 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 Type Li ppm Sample # Rock Type Li ppm
+----------+------------+--------+ +----------+-------------+--------+
| Dean-26 | Mudstone | 640 | | CV00802 | Claystone | 3730 |
+----------+------------+--------+ +----------+-------------+--------+
| Dean-27 | Mudstone | 900 | | CV00803 | Mudstone | 1660 |
+----------+------------+--------+ +----------+-------------+--------+
| Dean-28 | Claystone | 1350 | | CV00805 | Mudstone | 1000 |
+----------+------------+--------+ +----------+-------------+--------+
| Dean-41 | Claystone | 1100 | | CV00806 | Claystone | 1030 |
+----------+------------+--------+ +----------+-------------+--------+
| Dean-44 | Claystone | 1890 | | CV00810 | Claystone | 1480 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00210 | Claystone | 2040 | | CV00811 | Claystone | 1320 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00221 | Claystone | 2310 | | CV00812 | Claystone | 1750 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00224 | Claystone | 3830 | | CV00813 | Claystone | 2130 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00225 | Mudstone | 920 | | CV00814 | Mudstone | 1000 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00226 | Mudstone | 910 | | CV00818 | Mudstone | 1640 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00790 | Mudstone | 2440 | | CV00819 | Mudstone | 1450 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00792 | Mudstone | 510 | | CV00820 | Mudstone | 800 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00793 | Mudstone | 510 | | CV00821 | Mudstone | 1150 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00794 | Mudstone | 2530 | | CV00822 | Siltstone | 810 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00795 | Claystone | 1030 | | CV00823 | Ashstone | 570 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00796 | Mudstone | 780 | | CV00824 | Claystone | 1090 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00797 | Mudstone | 1770 | | CV00825 | Mudstone | 1110 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00798 | Mudstone | 1780 | | CV00826 | Mudstone | 750 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00799 | Mudstone | 1410 | | CV00827 | Claystone | 1060 |
+----------+------------+--------+ +----------+-------------+--------+
| CV00800 | Claystone | 1590 | | CV00801 | Claystone | 2220 |
+----------+------------+--------+ +----------+-------------+--------+
+----------+------------+--------+---+----------+-------------+--------+
| CV00828 | 2.5 meter | 1790 | | CV00829 | 3.25 meter | 1390 |
| | 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 result
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
as 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 a 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 is 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
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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cypress Development Corp via GlobeNewswire
Datum: 01.12.2016 - 14:00 Uhr
Sprache: Deutsch
News-ID 510378
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