Cypress Drills 281 feet of 1014 ppm Lithium in 2 mile step-out at Dean Project in Clayton Valley, Nevada
(Thomson Reuters ONE) -
VANCOUVER, B.C., June 06, 2017 (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 on May 15(th), that the Company
has received additional assay results from a 2017 Phase 1 core drilling program
completed at Cypress' 100% held 2,700 acre Dean Lithium Project in Clayton
Valley, Nevada.
Cypress' Dean Project is located to the immediate east of the Albemarle Silver
Peak Mine with Cypress' Glory Project, under option to Pure Energy Minerals,
located to the immediate south.
Cypress Clayton Valley, Nevada Lithium Projects location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
Highlights:
* Results for step-out Dean drill Hole DCH 9 are being reported here;
* All mineralized intercepts at Dean start at near surface;
* Average mineralized thickness at Dean is greater than 250 feet;
* Drill data to date outlines a mineralized zone of roughly 4,000 feet by
12,000 feet;
* The thick, tabular zone of pervasive lithium mineralization is considered to
be open in all directions;
* Cypress awaits further assay results for drill Holes DCH 6, 7 & 8;
* Targeting of more core drill holes is being planned;
* Laboratory studies continue to explore the highly soluble and reactive
nature of the large volume of lithium enriched rock seen outcropping at
Dean.
Dean drill hole DCH-9 is a nearly two mile step-out located in the northeast
eastern portion of the project area. Assays have been received from ALS Chemex
and average 1014 ppm Li over 281 feet from a depth of 27 feet to 308 feet.
The mineralization is continuous from surface as has been seen in previously
reported holes from the Phase 1 core drilling of the project. As with other
reported holes, the lithium is concentrated in a thick, tabular body of volcanic
ash and pumice rich mudstones. These mineralized, uplifted, sediments present an
attractive target with the potential of defining a large scale and potentially
highly reliable source of lithium. Cypress continues with ongoing laboratory
studies to explore the reactive and soluble nature of the large volume of
lithium enriched rock seen on the Dean Project so as to further understand a
method of extraction and ultimately production.
It is important to note that the uplifted and well mineralized lake bed
sediments that outcrop widely in the eastern portion of the Clayton Valley,
including those on the Dean Project, do not occur at surface elsewhere in the
basin. Cypress, through its 100% owned Dean Lithium Project as well as the
contiguous Glory Project area to the south, controls the heart of this newly
discovered, large-scale slab of outcropping mineralization.
Dean Project 2017 Phase 1 drill hole location map:
http://www.cypressdevelopmentcorp.com/i/photos/CYP-Dean-Phase-1-Drilling-
Satellite-Plan-Map.jpg
Assay Chart for Dean Drill Hole DCH 9:
+----------+-----------+---------+---------------+--------+------+------+------+
| SAMPLE | From (Ft) | To (FT) | Interval (FT) | Li ppm | Ca % | Mg % | Na % |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-236 | 0 | 19 | 19 | 150 | 5.94 | 1.49 | 2.26 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-237 | 19 | 27 | 8 | 270 | 6.36 | 1.94 | 1.42 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-238 | 27 | 37 | 10 | 890 | 6.62 | 2.17 | 0.99 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-239 | 37 | 47 | 10 | 1490 | 4.68 | 2.62 | 0.77 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-240 | 47 | 57 | 10 | 1350 | 5.11 | 2.32 | 0.80 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-241 | 57 | 67 | 10 | 1230 | 4.08 | 2.24 | 0.83 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-242 | 67 | 77 | 10 | 1260 | 4.32 | 2.27 | 0.95 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-243 | 77 | 88 | 11 | 760 | 3.48 | 1.48 | 1.26 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-244 | 88 | 98 | 10 | 1100 | 3.80 | 2.17 | 1.22 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-245 | 98 | 108 | 10 | 610 | 3.13 | 1.19 | 2.03 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-246 | 108 | 118 | 10 | 1020 | 3.09 | 1.88 | 1.59 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-247 | 118 | 128 | 10 | 1410 | 3.72 | 2.65 | 1.47 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-248 | 128 | 135 | 7 | 1440 | 4.07 | 2.74 | 1.01 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-249 | 135 | 143 | 8 | 1180 | 3.53 | 2.21 | 0.90 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-251 | 143 | 148 | 5 | 1200 | 3.97 | 2.34 | 0.86 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-252 | 148 | 158 | 10 | 860 | 3.65 | 1.73 | 0.88 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-253 | 158 | 168 | 10 | 1230 | 4.36 | 2.68 | 0.88 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-254 | 168 | 178 | 10 | 970 | 4.60 | 2.15 | 0.85 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-255 | 178 | 188 | 10 | 870 | 4.31 | 1.86 | 0.84 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-256 | 188 | 198 | 10 | 940 | 4.62 | 2.08 | 0.92 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-257 | 198 | 208 | 10 | 1070 | 5.37 | 2.62 | 0.88 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-258 | 208 | 218 | 10 | 800 | 3.68 | 1.73 | 0.88 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-259 | 218 | 228 | 10 | 1060 | 4.62 | 2.44 | 0.86 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-261 | 228 | 238 | 10 | 730 | 3.15 | 1.50 | 1.35 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-262 | 238 | 248 | 10 | 940 | 4.63 | 2.21 | 0.96 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-263 | 248 | 258 | 10 | 600 | 2.56 | 1.14 | 1.99 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-264 | 258 | 268 | 10 | 960 | 3.80 | 2.40 | 1.70 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-265 | 268 | 278 | 10 | 950 | 4.77 | 2.28 | 1.98 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-266 | 278 | 286 | 8 | 990 | 5.18 | 2.49 | 1.78 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-267 | 286 | 295 | 9 | 1090 | 6.69 | 2.73 | 1.44 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-268 | 295 | 304 | 9 | 840 | 4.82 | 2.04 | 1.60 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-269 | 304 | 308 | 4 | 810 | 4.05 | 1.93 | 1.63 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-271 | 308 | 318 | 10 | 690 | 4.13 | 1.75 | 1.73 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-272 | 318 | 328 | 10 | 540 | 5.39 | 1.38 | 1.82 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-273 | 328 | 338 | 10 | 590 | 6.53 | 1.70 | 1.74 |
+----------+-----------+---------+---------------+--------+------+------+------+
| DDCV-274 | 338 | 348 | 10 | 520 | 6.86 | 1.73 | 1.68 |
+----------+-----------+---------+---------------+--------+------+------+------+
*Note: Li=Lithium Metal, Ca=Calcium, Mg=Magnesium, Na=Sodium, kg=Kilograms
Cypress' exploration and core drilling results received to date from its Dean
Project have been very encouraging. A large amount of data has been gathered and
is being analyzed. A 2017 Phase 2 drilling program on the Dean Property is being
proposed for the 3(rd) and 4(th) quarters to provide further in-fill data.
"The Company is pleased with the results received from its 2017 Phase 1 drilling
program and is now advancing, with its data, into the scientific and engineering
stage of the project. Expertise has been engaged to consult with Cypress'
management as the Company advances towards a lithium extraction process," stated
Donald Huston, President of Cypress Development. "The Company's objective is to
determine an effective methodology to economically extract the lithium that is
now known to exist in a large, flat lying, tabular body of continuously
mineralized rocks at its Dean Project."
The continuous nature of the mineralization is very important in that bulk
mineralization is created. The mineralization is not interrupted by non-
mineralized intervals nor non-mineralized rock types.
Cypress believes the outcropping and consistent nature of the currently known
lithium mineralization at Dean is highly encouraging for both the potential size
and potential resource extraction methodologies. The drill data to date, which
outlines an area of roughly 4,000 feet by 12,000 feet (1300 meters by 3700
meters) presents a starting point for planning a resource estimation process.
Outcropping Li-rich claystone on Cypress Dean Project:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Dean-Lithium-Project-
Outcropping-Green-Claystones.jpg
Cypress awaits further assay results for drill holes DCH 6, DCH 7 and DCH 8 now
completed on the Dean property.
In other news, TSX Venture Exchange has consented to the extension in the expiry
date of 903,833 warrants previously issued with an original expiry date of June
29, 2017 to a new expiry date of June 29, 2018.
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, VP of Exploration and a Director of 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 Dean and Glory properties for both a lithium-brine
resource and expanding exploration relating to a lithium resource that exists
within the large area of non-hectorite "claystone" discovered at surface that
has seen recent high lithium assays recovered from these same "outcropping
claystone".
Cypress Development Corp. has approx. 35.0 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: 06.06.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 546520
Anzahl Zeichen: 16160
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