Cypress Commences Drilling at Clayton Valley Lithium Project, Nevada
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Cypress
Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the
"Company") is pleased to announce it has commenced drilling on its Clayton
Valley Lithium Project, located just east of Albemarle's Silver Peak lithium
brine operation in the heart of Clayton Valley.
Cypress Clayton Valley, Nevada Lithium Projects location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
Cypress plans to drill 12 holes totalling 4,000 feet of NQ-size core. The 2017
fall program will be divided between Cypress' contiguous Glory and Dean claim
blocks, which cover an area totalling 4,220 acres and are 100% controlled by
Cypress. Drilling will be completed by Morningstar Drilling of Three Forks,
Montana. A drill is at the site and the first hole was collared on the Dean
claims.
Dean Project planned Phase 2 drill hole location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Dean-Drill-Holes-Phase-2-
Map.jpg
Glory Project planned Phase 1 drill hole location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Glory-Drill-Map-2017.jpg
To date, all of Cypress' drilling has been on the Dean claims, where a 9-hole
program was completed earlier this year. All nine holes encountered significant
values within claystone, which ranged up to 1790 ppm lithium and averaged 900
ppm lithium (or 0.48% Lithium Carbonate Equivalent) throughout the average
drill-depth of 243 feet for all nine holes. The program covered a large area,
measuring roughly 12,000 feet in length by 4,000 feet in width, and the lithium-
bearing claystone is considered open in all directions.
Dean Project 2017 Phase 1 drill hole location map:
http://www.cypressdevelopmentcorp.com/i/photos/CYP-Dean-Phase-1-Drilling-
Satellite-Plan-Map.jpg
Immediately south of the Dean claim block extensive sampling by Cypress on the
Glory claims has identified lithium mineralization in surface exposures of
claystone which ranged up to 3,800 ppm over 9,500 feet along the same trend
encountered on the adjoining Dean claims.
Cypress believes its claystone deposit in Clayton Valley has the potential to
contain a significant resource of lithium, and may have physical and logistical
features that could make it a productive, long-term source of lithium.
Cypress remains very active in Nevada, with its geological team focused on
systematically exploring its properties for lithium. In addition to the ongoing
drilling program, Cypress is continuing studies to determine the exact nature
and distribution of the lithium mineralization in the claystone, and identify an
effective means of extraction.
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 Development Corp. has approx. 35.5 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.
"Bill Willoughby"
WILLIAM WILLOUGHBY, PhD, PE
CEO, Director
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: 19.10.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 564431
Anzahl Zeichen: 5928
contact information:
Town:
Vancouver
Kategorie:
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"Cypress Commences Drilling at Clayton Valley Lithium Project, Nevada"
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