Cypress Announces Remainder of Phase 1 Drill Results from the Dean Lithium Project in Clayton Valley, Nevada
(Thomson Reuters ONE) -
VANCOUVER, B.C., June 20, 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 Releases on June 6th and May 15th, that
the Company has received final 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 holes DCH 6, 7 and 8 are being reported
here;
* All vertical mineralized intercepts at Dean start at near surface;
* Drill data to date outline a mineralized zone of roughly 4 km x 2 km;
* The thick, tabular zone of pervasive lithium mineralization is considered to
be open in all directions;
* 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.
Outcropping Li-rich mudstone at Cypress Dean Project:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Dean-Lithium-Project-
Outcropping-Green-Claystones.jpg
The mineralization at Cypress' Dean Project 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 is continuing with ongoing laboratory studies to explore the highly
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% held Dean 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 drill holes DCH-6, 7 and 8 are situated in a north-south fence pattern in
the middle portion of the Dean Project area.
Dean Project 2017 Phase 1 drill hole location map:
http://www.cypressdevelopmentcorp.com/i/photos/CYP-Dean-Phase-1-Drilling-
Satellite-Plan-Map.jpg
Table for Dean Drill Holes DCH-06, DCH-07 and DCH-08:
+-------------+---------+-------+-------------+--------+
| Hole ID | From Ft | To Ft | Interval Ft | Li PPM |
+-------------+---------+-------+-------------+--------+
| DCH-06 | 2 | 128 | 126 | 903 |
+-------------+---------+-------+-------------+--------+
| | | | | |
+-------------+---------+-------+-------------+--------+
| DCH-07 | 6 | 162 | 156 | 859 |
+-------------+---------+-------+-------------+--------+
| | | | | |
+-------------+---------+-------+-------------+--------+
| DCH-08 | 1.5 | 248 | 246.5 | 714 |
+-------------+---------+-------+-------------+--------+
*Note: Li=Lithium Metal, Li Grade is the average grade from continuous sample
assays taken on 10 foot intervals.
Cypress has discovered an extensive 60 to 100 meter thick blanket of lithium
mineralization underlying a large portion of its 2,700 acre Dean Property. The
mineralization covers an area of approx. 2 kilometers by 4 kilometers. The
consistent mineralized volume evident on the explored portion of the Dean
Property averages in excess of 1000 ppm Li.
Donald Huston, President of Cypress Development stated, "The discovered
mineralization at Dean sits within a basin that hosts the only significant
lithium production in the United States. Cypress' Clayton Valley, Nevada lithium
project is well located in close proximity to essential mining infrastructure.
Cypress Development believes this discovery has the scale to significantly
impact the future production of lithium in the Clayton Valley. Cypress also
believes this developing zone could very well represent a long term, reliable
supply of lithium given the known size, chemistry and geometry of the
discovery."
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 2 kilometers by 4 kilometers presents a starting
point for planning a resource estimation process.
Cypress maintains this large claim block known as the Dean Lithium Project as a
100% owned asset.
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 3rd and 4th quarters to provide further in-fill data.
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: 20.06.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 548907
Anzahl Zeichen: 10227
contact information:
Town:
Vancouver
Kategorie:
Business News
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"Cypress Announces Remainder of Phase 1 Drill Results from the Dean Lithium Project in Clayton Valley, Nevada"
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