Cypress Samples Up to 3730 ppm Li at Dean Lithium Project in Clayton Valley, Nevada

By GlobeNewswire,  December 01, 2016, 08:00:00 AM EDT


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

chip

channel
1790   CV00829 3.25 meter

chip

channel
1390  

*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@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.

Source: Cypress Development Corp

This article appears in: News Headlines

Referenced Stocks: CYDVF, CYP


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