Cypress' Drilling Commences on Broulan Reef Gold Project
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Cypress Development Corp. /
Cypress' Drilling Commences on Broulan Reef Gold Project
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Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8
www.cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYP
Email: info(at)cypressdevelopmentcorp.com
October 3, 2011
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) is pleased to announce
that drilling has commenced on the eastern portion of its 84% owned Broulan Reef
gold property located in the heart of the Red Lake Gold Camp. Developments on
the Goldcorp / Premier Gold Rahill-Bonanza joint venture project adjacent to the
east of the Broulan Reef along with detailed analysis of compiled proprietary
and public data have resulted in the identification of a high quality drill
target in the eastern portion of the Broulan Reef property.
Broulan Reef drill hole location map, Red Lake, Ontario:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP_Gold_Eagle_Drill_Vi
ew.jpg
A diamond drill hole is being drilled to a depth of 1300 - 1500 metres by Rodren
Drilling of Winnipeg to test for the westward extension of west-southwest
striking structures that host recently discovered gold mineralization in
positions 600 to 800 metres to the east of the Broulan Reef property. These
recent discoveries made by the Goldcorp-Premier joint venture occur in
structurally controlled zones within the Balmer assemblage volcanic rocks at
depths ranging from 800 to 1000 metres below surface. The Balmer assemblage is
the known host rock for the gold deposits that are being discovered by Cypress'
neighbors and is the host environment for the gold that is produced in Red Lake
by Goldcorp.
Data on the Premier Gold Mines Limited website indicate that the gold
discoveries are hosted in and around sheared ultramafic bodies within the Balmer
formation. The current target in the eastern portion of Cypress' Broulan Reef
project is structurally controlled gold mineralization within the Balmer
formation at depths less than 1500 metres from surface. Geologic maps published
by the Geologic Survey of Canada (GSC) show the west-southwest striking
structures being explored by the Goldcorp-Premier JV continuing onto the Broulan
Reef property.
GSC and other publically available mapping clearly show the target area is
underlain by a structurally complex assemblage of the Bruce Channel Formation
and the underlying Balmer mafic to ultramafic volcanic units. This structural
complexity is considered to be very favorable for the existence of gold
mineralization.
Cypress looks forward to reporting on the progress and results of the drilling
of this key location in one of the world's most active and productive gold
camps.
Robert Marvin, PGeo., CPG, Senior Project Geologist for Cypress Development is
the Qualified Person, as defined by National Instrument 43-101, and supervised
both the project field and the preparation of the technical information in this
release.
About Cypress Development Corp.:
Cypress Development Corp. is a diversified precious and base metals exploration
and development company with properties in Red Lake, Ontario, Canada, and in
Nevada, U.S.A.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"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 news release may contain certain "Forward-Looking Statements" that may
involve a number of risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. For a more detailed
discussion of such risks and other factors, refer to the Company's filings with
Canadian Securities regulators available on www.sedar.com.
--- End of Message ---
Cypress Development Corp.
Vancouver, BC Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
This announcement is distributed by Thomson Reuters on behalf of
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Cypress Development Corp. via Thomson Reuters ONE
[HUG#1551393]
Unternehmensinformation / Kurzprofil:
Datum: 03.10.2011 - 10:01 Uhr
Sprache: Deutsch
News-ID 71600
Anzahl Zeichen: 5861
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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